WATCH: Billions tied up in overdue ITAC customs duty probes

I was facilitating the Steel Masterplan Conference recently where the theme of a bring-and-braai emerged around how we approach tariffs and industrialisation: if one your mates at a bring-and-braai keeps on only bringing peanuts while you bring the fillet, you are going to let them know, but does it ruin the friendship? Only if you are silent.

This was thrown into stark relief recently when the duties on imported chicken were lifted without prior consultation, in a surprising move to local poultry producers. As such, it has emerged that industry is no longer willing to remain silent over billions of rand that are tied up in overdue ITAC customs duty investigations, with far-reaching implications for the affected industries.

The delays inhibit both trade and investment and need to be resolved. XA Global Trade Advisors recently launched its first Open Cases Report, which outlines how long these cases are taking to be decided; how long they should actually take in terms of the law; and most critically, what the cost of these delays means for the fiscus and business uncertainty.   

Joining Michael Avery for this conversation is Donald MacKay, CEO and founder of XA Global Trade Advisors; Mike Benfield, CEO at Macsteel; and Duane Newman, partner at EY Cova.

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