Dear Valued Client
Please review the below notice from SARS with updated requirements for customs declarations. We highlight from the notice that Supplier invoices need to have Incoterm as well as Payment Terms as compulsory fields going forward. All clearances with more than one product will now be cleared individually.
‘From April 1st, SARS requires declarants to supplement Customs Declaration message with all relevant Commercial Invoice details that would normally appear on the Worksheet. This includes, but is not limited to, fields like INCO Terms, Payment Terms of the Invoice, SOB Date, Rate of Exchange, Date of R.O.E, Details of Dutiable Charges, Discounts, and the actual Common Factor used to determine the ZAR-based Customs Value.
These new requirements from SARS are mostly aimed at driving both classification and valuation compliance through the use of expanded data sources combined with AI and sophisticated analytics.
Most of the new data fields mentioned will not affect the end user since these data elements have always been available in the system. The biggest impact will typically be at line-item level where there will now be a separate field for the Commercial Invoice Description, Brand Name and Invoice Quantity. Furthermore, the Supplier’s Invoice section will now also require the INCO-Term and Payment Terms of the invoice to be selected.’
Should you have any queries, please reach out to our Head Office on 0318180320.