On 02 August 2021, the South African Revenue service (SARS) announced the substitution of the safeguard duties (safeguards) in Item 260.03/7318.15.39/01.08 in Part 3 to Schedule No.2 to the Customs and Excise Act, 1964, in order to extend the safeguards on imports of screws fully threaded with hexagon heads made of steel, classifiable in tariff subheading 7318.15.39.
The safeguards can be rebated through Rebate Items 301.00 to 399.00, and 401.00 to 499.00, but excluding Rebate Item 317.06/00.00/03.00 and Rebate Item 460.17/00.00/03.00). The reasoning is contained in the International Trade Administration Commission of South Africa (ITAC) Report No.668.
The safeguard is imposed at a rate of 35.6% ad valorem, with effect from 02 August 2021 up to and including 01 August 2022; 30.6% ad valorem with effect from 02 August 2022 up to and including 01 August 2023); and 25.61% with effect from 02 August 2023 up to and including 01 August 2024.
The Notice is accessible at:
Story by: Riaan de Lange