On 20 January 2021 amendments to the Customs and Excise Act were published in the following Acts

  • Rates and Monetary Amounts and Amendment of Revenue Laws Act 22 of 2020
  • Taxation Laws Amendment Act 23 of 2020
  • Tax Administration Laws Amendment Act 24 of 2020

Here is a summary of the most salient amendments to the Customs and Excise Act

  • As required by the Act, the yearly confirmation that all amendments made to the Schedules to the Act throughout the period 1 October 2019 to 31 October 2020, is confirmed as permanent.
  • Provision is now made in the Act to allow the Commissioner to publish tariff determinations that are issued in a manner that he will determine.  This is interesting, as the Act did not allow the publication of any tax payer information.  It further creates previously unavailable information to importers of like products.  We will watch this closely and provide updates to our readers.
  • Sections of the Act providing for for the levy of duties, and refunds, have been amended to provide for an export tax and the administration thereof.  Of particular interest is that the free on board price for export, is now detailed to mention the costs and charges that must be included when determining the export value for duty purposes.

If you want to know more, please mail us on info@xa.co.za.

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