? SARS' New Advanced Payment Notification System

Advance Payment Notification (APN) for Imports

Legalised in 2021, SARS'?Advance Payment Notification (APN) system is now operational and SARS is working towards making it mandatory by the end of the year. Designed to combat illicit financial practices in imports, all prepayments for imported goods now need to be registered on e-filing beforehand. This article details the application requirements?and a step-by-step guide for obtaining an APN reference number.

https://importexportlicense.co.za/blog/advanced-payment-notification-for-imports/

YOUR QUESTIONS ANSWERED

I've sold CPT by road, some of the goods were lost in transit before the border, the balance has arrived but possibly damaged. The Buyer refuses to receive these and refuses to pay me. What is my position?

In any model, the “Seller” is only one of several roles you may take. While the commercial term used by the Seller and Buyer may guide us on the Seller’s position, it will not influence your risks and obligations in respect of your other responsibilities.?Find the answer as supplied by Freight Training.?

INDUSTRY NEWS?

East African governments to fast track single currency

East African governments plan to have?a single East African currency?by 2031, to eliminate transaction costs of exchanging currencies and remove volatility in cross-border trading activity.

Facelift for land ports of entry

Home Affairs Minister says officials are committed to making the?country's border posts safer, less porous and more efficient, to facilitate trade and the movement of people.

Expansion and development at the Port of Cape Town

The proposed?Culemborg Intermodal Logistics Precinct?to create additional back-of-port capacity and increase mixed-use functionality.

SARS and Legislative Updates

SARS: Withdrawal of Through Bill Concession

SARS' Through Bill Concession has been discontinued, as per?SARS' response letter to the MSC.?

New SARS Service Charter

SARS has a new annual Service Charter with effect from 1 September 2023.?

Guide for Tax Rates, Duties and Levies

his guide provides a current and historical view of the rates of various taxes, duties and levies collected by SARS.?

Updated Drawback and Refund Guide

This updated guide includes the electronic submission of refunds and drawbacks which SARS is now making operational.

SARS releases the Merchandise Trade Statistics for July?2023

Foreign Exchange Account

Your foreign exchange account is the best means of international payment:

• Personalised service from your broker.
• Better exchange rates than your bank (0.5-2% average saving).
• Savings of up to 75% on incoming and outgoing transactions.
• ZERO monthly account of service fees & no hidden transaction fees or commissions.
• Safe and secure, fully SARS and Reserve Bank compliant trading.?

https://importexportlicense.co.za/services/foreign-exchange/