SA companies may have paid too much in import duties, report shows
The lack of regular reviews makes it impossible to determine whether duties are still necessary
02 September 2024 - 11:48
Businesses paid a staggering R81bn in import duties, which have not been reviewed for more than two decades, in the past year, a new report showed, laying bare the high cost of inefficiencies in the regulatory process.
The lack of regular reviews raises concern as it is impossible to determine whether duty protections are still necessary. In the past 20 years, the International Trade Administration Commission of SA (Itac), which acts as a watchdog to ensure fair competition and protect domestic industries, has identified 52 products that should have their duties reviewed...
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