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4 Nov 2016 1 min read Tax and Excahnge Control Alert Article

Draft amendments of forms DA260 for OS, SOS and SVM relating to excise duty on wine. The explanatory note provides as follows:

South Africa is a Contracting Party of the Convention on the Harmonized Commodity Description and Coding System (HS Nomenclature) elaborated under the WCO and has an obligation to adopt and implement the amendments to it. As a signatory to the HS Convention, South Africa implements the amendments in terms of section 48(1)(c) of the Customs and Excise Act, 1964. Due to amendments to Schedule 1 Part 2A of the Act, the DA 260 excise accounts for wine require changes to tariff items and subheadings.

Due date for comment: 14 November 2016.

Send comments to: C&E_legislativecomments@sars.gov.za

Correction notices published for Schedule 1 Part 1 as they relate to the preferential trade agreement between MERCOSUR and SACU.

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