Customs

The South African Revenue Service (Sars) issued a letter dated 22 December 2010 with respect to the withdrawal of the F178 – Foreign Exchange Control form.
The letter reads as follows: Exchange Control Circular No. 46/2010 dated 20 December 2010 issued by the South African Reserve Bank (SARB) refers.
The Minister of Finance announced in the Medium-Term Budget Statement on 27 October 2009 that the current paper-based monitoring system of exports (Form F178) would be replaced with the more efficient electronic system.
The Financial Surveillance Department of the SARB informed this Office that the electronic monitoring system would formally be implemented on 03 January 2011. Consequently, exporters are exempted from the provisions of Exchange Control Regulation 6(10)(a) and therefore goods exported from South Africa for sale abroad need not be supported by an attested Form F178.
The introduction of the electronic export monitoring system will complement the Customs Modernisation Programme.