The South African Revenue Service wishes to advice that the ad valorem excise duty system has been restructured in line with an announcement made by the Minister of Finance in his Budget speech in February this year.
Ad valorem duty is tax one pays in addition to the normal duties and is applicable to luxury items.
The system has been restructured by abolishing the value-determination formula for domestically produced goods (except cars). This necessitated the revision of the Ad Valorem Excise duty account (form DA 75) and all the prescribed schedules to the account, namely forms DA75.20; DA75.22; DA75.24; DA75.30; DA75.32 and DA75.33.
The new system came into effect at the beginning of July.A guide on how to complete the new ad valorem forms has also been updated and it is, along with the forms, available on our website, www.sars.gov.za under the Customs section.
ISSUED BY THE COMMISSIONER FOR THE SOUTH AFRICAN REVENUE SERVICE