Page 559 - SAIT Compendium 2016 Volume1

Schedule 1
ITEM NO
VALUE-ADDED TAX ACT 89 OF 1991 Schedule 1 (ii) the application for such extension is made prior to the expiry of the period of 3 years,
12 months or 6 months, as the case may be.
[Proviso (ii) to Note 2 to item 470.00 substituted by GN 995 of 7 December 2012.]
3. This exemption is allowed only if the Controller ensures that the tax is secured, in part or in full, by the lodging of a provisional payment or bond except where the Commissioner, in exceptional circumstances, otherwise directs, or in the circumstances contemplated in rule 120A.01 (c) of Chapter XIIA of the Rules under the Customs and Excise Act.
[Note 3 substituted by s. 121 (b) of Act 31 of 2005.]
4. If proof is not furnished to the Commissioner that the goods imported have been repaired, cleaned, reconditioned, processed or used in repairing, cleaning, reconditioning or processing and have been duly exported within the time period prescribed in note number 2, this exemption shall be withdrawn and tax, penalty and interest must be paid.
5. For the purposes of Item No. 470.03/00.00/02.00:
(a) Where the importer is contractually entitled to keep a portion of the goods manufactured,
processed, nished, equipped or packed in lieu of payment for the operations carried out, that importer must—
(i) also export those goods within the period of 12 months contemplated in Note 2 (a); or (ii) (aa) process a bill of entry at the of ce of the Controller for payment of the value-
added tax on the goods retained; and
(bb) adjust by voucher of correction the rebate bill of entry in respect of the quantity
and value of the goods used to manufacture the goods retained.
(b) The importer is required to maintain the records prescribed in terms of section 75 of the
Customs and Excise Act.
[Note 5 added by s. 143 (1) (a) of Act 24 of 2011 – date of commencement: 10 January 2012.]
DESCRIPTION
470.01/00.00/01.00
470.02/00.00/01.00 470.02/00.00/02.00 470.03/00.00/01.00
470.03/00.00/02.00
470.03/00.00/03.00
480.00
.. .
[Item 470.01/00.00/01.00 deleted by GN 995 of 7 December 2012.]
Goods (including parts therefore) for repair, cleaning or reconditioning Parts for goods temporarily imported for repair, cleaning or reconditioning
Goods for use in the manufacturing, processing, nishing, equipping or packing of goods exclusively for export
Goods free of duty, for use in the manufacture, processing, nishing, equipping or packing of goods exclusively for export.
[Item 470.03/00.00/02.00 added by s. 143 (1) (b) of Act 24 of 2011 – date of commencement: 10 January 2012.]
Goods for use in the manufacturing, processing, nishing or equipping of yachts exclusively for export
[Item 470.03/00.00/02.00 added by GN R506 of 6 July 2012.]
GOODS TEMPORARILY ADMITTED FOR SPECIFIC PURPOSES:
NOTES:
1. The exemption in terms of item no. 480.35 is allowed—
(a) only if the samples are imported by—
(i) commercial travellers and other representatives of rms abroad who visit the Republic temporarily with their samples for the purpose of securing orders;
(ii) persons or rms established in the Republic, including agents for foreign rms, to whom samples may be sent by rms abroad, free of charge, for the same purpose; or
(iii) a prospective customer in the Republic to whom a sample is sent on free loans for inspection and demonstration with a view to obtaining an order for similar goods;
(b) except with the permission of the Commissioner, for only one sample of each description, range, type or colour of an article; and
(c) only if each sample is an article representative of a particular category of goods already produced or to be produced abroad, imported solely for the purpose of being shown or demonstrated free of charge to prospective customers.
[Sub-para. (c) substituted by s. 122 (b) of Act 31 of 2005.]
SAIT CompendIum oF TAx LegISLATIon VoLume 1 551
VALUE-ADDED TAX ACT