Trade index reflects buoyant outlook

Customs duties contribute to SARS revenue bonanza AN INCREASE in the value of customs duties collected by SA Revenue Service for the financial year ending March 31, 2005 was one of the contributors to the R354.9 billion collected by SARS. This was R9.6 billion up from the revised revenue target of R345.3 billion tabled during the February 2005 Budget speech and R11.6 billion up from the printed estimate announced in February 2004. Customs duties amounted to R13.15 billion, R1.65 billion up from the February 2005 estimate of R11.5 billion. According to Deloitte, the boost is mainly due to the increase in imported goods for domestic consumption fuelled by the strengthening of the rand and the higher available disposable income of consumers. Specific excise duties amounted to R13 billion, which was in line with the February 2005 and 2004 estimates. Ad valorem excise duties, at R1 billion, were R86 million down from the February 2005 estimate of R1.1billion.