On 23 November comment was due on Sars’ draft rule amendment to the Act, 1964 for the registration of rebate users in schedules no 3 and 4, effective from 01 January 2017. These proposed amendments relate to the implementation of the 2017 version of the Harmonised System (HS) Nomenclature - HS2017 - which South Africa will implement in terms of section 48(1)(c) of the Act, 1964.
There are, however, numerous schedules to the Act, 1964 that would be impacted by the HS2017 amendments.
It is anticipated that the South African HS2017 schedules will be published by Sars by no later than 15 December 2016. With the festive season fast approaching, you may want to take some time to prepare for HS2017, as one would expect that there would be little change from the draft South African HS2017 version.