On17 March the South African Revenue Service (SARS) informed stakeholders of the release of draft tobacco products excise forms – DA260 (Excise Account) Tobacco products (Special Storage - SOS) and (Manufacturing Warehouses -VM) – on which comment is due by 31 March.
According to SARS’ Explanatory Note excise duties are payable by manufacturers of tobacco products on the DA260 account. As a result of Budget 2021 proposals in respect of heated tobacco products, the current DA260 Excise Accounts must be amended to reflect certain additional fields.
The draft amendments are accessible at:
Story by: Riaan de Lange