South Africa is a signatory to the International Convention on the Harmonized Commodity Description and Coding System, which provides for a consistent system of classification for internationally traded goods. The Harmonized System is reviewed periodically and the third major revision since it came into effect in 1988 will take effect on 1 January 2007.
The South African Revenue Service (SARS) has made available the draft of the revised Part 1 of Schedule No. 1 to the Customs and Excise Act, 1964 (excluding Section and Chapter Notes) that will come into effect on 1 January 2007. The release of the draft today (Friday 17 November) will provide stakeholders with additional time to prepare for the introduction of the Harmonized System 2007. It will also provide stakeholders with an opportunity to comment on the proposed structural amendments introduced at a national level.
The draft deals with a number of reductions in tariffs that are described in more detail in its Explanatory Memorandum. The draft and its Explanatory Memorandum are available on the SARS website under the Legislation section.
Comments on the draft are invited and should reach Laetitia Culbert at lculbert@sars.gov.za by no later than 1 December 2006. The publication of the final revision in the Government Gazette is scheduled for mid December 2006.
ENDS
ISSUED BY THE COMMISSIONER FOR THE SOUTH AFRICAN REVENUE SERVICE
PRETORIA