On 26 February the South African Revenue Service (SARS) announced the amendment to Part 6 of Schedule No.1 to the Customs and Excise Act, 1964, “Export Duty”, by the insertion of Note 4 as well as the substitution of various items under Export Tax Item 193.00, in order to insert the African Continental Free Trade Area (AfCFTA) column and reduce the rate of export duty as promulgated in the Taxation Laws Amendment Act, 2020, on 20 January to free until 31 July.
By the insertion of the following Note(s) in Part 6 of Schedule No.1 to the Act, 1964:
The rates of export duty specified in the rate of duty column headed European Union (EU) shall apply mutatis mutandis to the goods exported to the United Kingdom (UK).
193.00 EXPORT DUTY ON SCRAP METAL
193.00 72.04 Ferrous waste and scrap; remelting scrap ingots of iron or steel:
193.01 7204.10 Waste and scrap of cast iron
193.02 7204.2 Waste and scrap of alloy steel:
193.02.01 7204.21 Of stainless steel
193.02.03 7204.29 Other
193.02.05 7204.30 Waste and scrap of tinned iron or steel
193.03 7204.4 Other waste and scrap:
193.03.01 7204.41 Turnings, shavings, chips, milling waste, sawdust, filings, trimmings and stampings, whether or not in bundles
193.03.03 7204.49 Other
193.03.05 7204.50 Remelting scrap ingots
193.04 7404.00 Copper waste and scrap
193.05 7602.00 Aluminium waste and scrap
The notice is accessible at:
Story by: Riaan de Lange