SARS Customs Duty Reduction 40 Year Old cars

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Madbones
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SARS Customs Duty Reduction 40 Year Old cars

Post by Madbones » Fri Nov 03, 2017 9:56 am

Just Gazetted.
For your information if you import a car manufactured 40 years or more. More importantly you MUST have an ITAC Import Permit to comply!

So in summary what this means is that Schedule 1 Customs Duty is now Zero instead of 25% on certain cars. (Different Tariff Headings)

*Certain smaller levies and duties are still applicable, complex but happy to explain if you need more.


Rebate Item Tariff Heading Rebate Code CD Description Extent of Rebate
460.17 87.03 04.04 44 Motor cars and other motor vehicles principally designed for the transport of persons (excluding commercial vehicles or buses) including station wagons and racing cars, classifiable in tariff subheading 87.03, which were manufactured 40 years or more prior to the date of importation and/or such motor cars of any age which are determined to be international collectors' vehicles by the International Trade Administration Commission (ITAC) and subject to the issuing of an ITAC import permit (subject to import control conditions) authorising the importation of the particular vehicle, under such conditions as ITAC may allow by specific rebate permit Full duty in Part 1 of Schedule No. 1



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Riaan.N
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Re: SARS Customs Duty Reduction 40 Year Old cars

Post by Riaan.N » Fri Nov 03, 2017 10:18 am

That is good news!

Does it also include a reduction on import duties on the parts of vehicles that are already in SA that are 40 years old or older?


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Re: SARS Customs Duty Reduction 40 Year Old cars

Post by Merlin » Fri Nov 03, 2017 12:34 pm

Riaan.N wrote:
Fri Nov 03, 2017 10:18 am
That is good news!

Does it also include a reduction on import duties on the parts of vehicles that are already in SA that are 40 years old or older?


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Madbones
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Re: SARS Customs Duty Reduction 40 Year Old cars

Post by Madbones » Fri Nov 03, 2017 1:59 pm

NO :lol:

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