Sars prepares for harmonised switch

SA REVENUE Service last Friday (November 17) released a draft of the revised Customs and Excise Act schedule in preparation for the introduction of the Harmonised System on January 1. ”The release of the draft of the revised Part 1 of Schedule No. 1 to the Customs and Excise Act, 1964 (excluding Section and Chapter Notes) that will come into effect on January 1, 2007 will provide stakeholders with additional time to prepare for the introduction of the Harmonised System 2007,” said Sars spokesman Adrian Lackay.“It will also provide stakeholders with an opportunity to comment on the proposed structural amendments introduced at a national level.” The draft deals with a number of reductions in tariffs that are described in more detail in its Explanatory Memorandum, both of which are available on the Sars website under the Legislation section. Comments on the draft are welcomed and should reach Laetitia Culbert at lculbert@sars.gov.za by no later than December 1. The publication of the final revision in the Government Gazette is scheduled for mid December. “The Harmonised System is reviewed periodically and the third major revision since it came into effect in 1988 will take effect on January 1," said Lackay.