SARS releases official info on storage of duty-free goods

Warehousing rules differ THE COMMISSIONER for South African Revenue Services has released the official notification allowing duty-free goods imported for re-exportation in the same condition to be stored in a bonded warehouse for a period not exceeding six months from the date of importation. While the Customs and Excise Act has not been amended to give effect to this ruling, SARS has illustrated its commitment to trade facilitation with the publishing of this notice, a Deloitte spokesman told FTW. The criteria for use of this facility will differ from that of a normal bonded warehouse in that : l Only goods intended for export will be permitted; l Goods may be consolidated or deconsolidated in the warehouse; l Contracts will only be considered for accredited clients; l Goods may only be removed by an accredited haulier; l The goods may only be stored in bond for a period of up to 6 months; l No substitution entries will be allowed; l Additional security will be required in terms of bonds, controls and regular audited reports.