The Treasurer’s Guide to Trade Finance

(Martin Jones) #1

South Africa


Principal exports
Gold, diamonds, platinum, other metals and
minerals, machinery and equipment.

Import/Export documentation
Within SACU: no documentation
requirements, but a commercial invoice is
typically included.
Outside SACU: commercial invoice, customs
declaration, bill of lading, packing list and,
sometimes, a certificate of origin.
ƒ As of 2011, an electronic SAD 500 Customs
Declaration Form is required for all exports.

Licences

Imports
ƒ Armaments, radioactive materials, ozone-
depleting substances, waste, scrap, various
minerals (including fuels), gold, gambling
machines, pneumatic tyres, fish, shellfish
and molluscs.
ƒ Licences with quotas: various agricultural
and manufactured products (including textile
and clothing products from Zimbabwe).
ƒ Imports from Botswana, Lesotho, Malawi,
Namibia, Swaziland and Zimbabwe do not
usually require licences.
Exports
ƒ Agricultural and manufactured products
exported to countries outside SACU.
ƒ Permits from the Department of Defence:
military equipment, armaments and
ammunition.

Tariffs/Taxes

Imports
ƒ Only 14 percent VAT is levied on imports
from other SACU member states.
ƒ Tariffs of up to 45 percent for commercial
goods and up to 60 percent for motor
vehicles apply to imports from outside
SACU.
Exports
ƒ None.

Financing requirements for imports/
exports
ƒ Goods imports are allowed with advance
payment of up to 50% (previously 33.3%) of
the e-factory cost without requiring Reserve
Bank approval.
ƒ Exporters are usually permitted to grant
credit for up to one year.

Prohibited items

Imports
ƒ Imports prohibited in accordance with UN
Security Council resolutions, such as items
deemed a threat to fauna, flora and national
security or those deemed morally dubious.
Exports
ƒ Exports that are prohibited in accordance
with UN Security Council resolutions.
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