On 04 November 2022, the South African Revenue Service (SARS) announced an amendment to Part 1 of Schedule No.3 of the Customs and Excise Act, 1964, “Industrial Rebates of Customs Duties: Goods Used In The Manufacture Of Other Goods” for the Volume Assembly Allowance Value-Added Tax (VAA) by the substitution of the definition of “value for VAA purposes”, where it appears under “Definitions” in Note 1.2 to Rebate Item 317.03, with retrospective effect to 01 January 2013.
The reasoning is contained in the International Trade Administration Commission of South Africa (ITAC) Minute 11/2021.
Rebate Item 317.03 reads “"value for VAA purposes" means the value, determined on the basis prescribed in Note 7.1, for the cumulative amount of all specified motor vehicles produced in terms of this item, during the most recent four quarters and ready for sale.”