As a signatory of the African Continental Free Trade Area (AfCFTA) agreement and the World Trade Organization (WTO) Trade Facilitation Agreement (TFA), South Africa has certain obligations regarding the issuance of advance rulings in relation to customs matters. The 2022 national budget documents released in February 2022 include a proposal for an enabling framework to allow the Commissioner of the South African Revenue Service (SARS) to issue this type of advance ruling, which would be provided in the Customs and Excise Act, No. 91 of 1964 (“Customs Act”).
Source Deloitte
Latest Posts in "South Africa"
- VAT Fraud Syndicate Threatens South Africa’s Economy, Costs Billions in Lost Revenue and Market Share
- SARS Limits E-Commerce Imports Under Customs Code 70707070 to R150,000 Per Year for Individuals
- How Edward Kieswetter Helped South Africa Avoid a 2% VAT Increase Through Tax Modernisation
- South Africa Clarifies VAT on Sale of Fixed Assets and Joint Venture Interests
- SARS Clarifies Tax on Reinsurance Business Transfer to Nonresident Branch; Dividend and VAT Implications
