On 30 March 2023, the South African Revenue Service (Sars) announced the released its 6-page “Recordkeeping: Imported and Exported Goods” guide provides information on recordkeeping requirements for imported and exported goods under Section 101 (Business accounts, documents, etc, to be available for inspection) of the Customs and Excise Act, 1964.
The Guide is divided into the following headings:
- Purpose
- Introduction
- Customs and Excise Act, 1964
- Who is subject to recordkeeping and in what language can records be kept?
- What records must be kept?
- How long must records be kept?
- Where must records be kept?
- Must original records be kept?
- Can alternative methods of storage be used for records?
- When must records be produced?
- Consequences of non-compliance with recordkeeping requirements under Section 101
The ‘Introduction’ reads:
Keeping records substantiates information declared on bills of entry. The information declared on Bills of Entry (BOEs) is used to determine duty liability and to compile trade statistics.
Customs may request on-demand records to validate the information declared at time of clearance, during an enquiry, audit or investigation. Failure to produce correct and accurate records can result in administrative penalties and, in serious cases such as production of false records, prosecution of offenders.