On 04 March the South African Revenue Service (SARS) announced the reduction of the sugar variable tariff formula in terms of Part 1 of Schedule No.1 ‘Ordinary Customs Duty’ to the Customs and Excise Act, 1964 from 527.75c/kg to 414.85c/kg. The reasoning is contained in the International Trade Administration Commission of South Africa (ITAC) Minute M09/2020.
The reduction in the rates of customs duty pertains to beet sugar (1701.12), Cane sugar specified in Subheading Note 2 to this Chapter (1701.13), Other cane sugar (1701.14), Containing added flavouring or colouring matter (1701.91), and Other (1701.99).
Story by: Riaan de Lange
