Will the new Customs Control Act dig into your pocket?

Whenever draft legislation is presented to us, our primary concern is how this legislation will affect us financially, either directly or indirectly. The direct costs are usually quite obvious. It is the hidden costs that are often overlooked or miscalculated due to lack of adequate attention. It is therefore of utmost importance that all business concerns pay the necessary attention to proposed legislation and comment on it, providing alternative suggestions where possible. The draft Customs Control Bill is a case in point. Did you know that this Bill states that the Commissioner may impose processing fees for most applications, including licensing, registration, accreditation, tariff, valuation and origin determinations? Furthermore, it is proposed that current registration certificates will lapse six months from the date on which the new Act takes effect, meaning that fresh applications will have to be submitted within this period. If not, current registrants face being in contravention of the new Act and will be in danger of operating "illegally". In terms of the Draft Bill, warehouse licensees will be required to submit monthly reports to Customs and will not be allowed to store bonded cargo for a period longer than 12 months. These are just a few of the proposed changes to the way in which matters are currently being administered in terms of the Customs and Excise Act, 91 of 1964. As a reminder, the deadline for comment is 26 February 2010. Should you wish to attend a seminar/workshop on the Draft Customs Control Bill and Customs Duty Bill, please contact Customs @ Wylie on 0860CUSTOMS for more information.