NEW RATES of duty will mean cheaper tyres for the road freight and passenger industries. The import duty on these tyre grades has been reduced - retrospective to January 1. The general rate has been cut to 28%, while tyres qualifying for the EU (European Union) rate are taxed at 23%, and those from qualifying SADC (Southern African Development Community) countries at 20%. If you have imported tyres since the beginning of the year, you can apply for a refund of the over-paid duty. But this only applies to customs duty, not VAT.
