The Treasury has heard the strong pleas made by players in the motor industry to revoke proposed changes to the customs and excise regime, which would have added about R2.5bn to its cost structure.

At issue are proposed changes to the Customs and Excise Act, which would require that all customs duty payable on imported goods be taken into account when calculating the value for the purposes of ad-valorem duty on such goods. Currently only nonrebated customs duty is used for the calculation...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now