AFFECTED FLOWOutflow (subsidised)
ANNOUNCED AS TEMPORARYNo
Tax-based export incentive
On 2 May 2014, the South African Revenue Service issued Regulation 316 listing the new rules under which indirect exports may be zero-rated or when a recipient is entitled to a Value-Added Tax (VAT) refund when goods are exported.
In Section B of Part 2 of the VAT Act, an indirect export of goods via road or rail can be zero-rated. Previously, export incentives did not include a zero-rating for transport by road or rail, only by sea or air. This representeda disadvantage for exports into Africa, since most goods are transported by road or rail.
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