On 11 August Sars published draft tariff amendments of Part 1 of Schedule No 1 to the Customs and Excise Act, 1964 to insert new provisions for vegetable oils marketed and supplied for use in cooking food.
The supply of vegetable oils (excluding olive oil) is Value-added Tax (VAT) zero-rated, provided the vegetable oils are marketed and supplied for use in the process of cooking food. The tariff amendment is required to align the relevant provisions in Schedule No 1 Part 1 of the Act, 1964 with those of the VAT Act, 1991.
Comment is due by 25 August 2016.