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News & Press: Customs and Excise

Draft Rule Amendment of section 120 – Currency conversions for determining value of goods exported

10 November 2015   (0 Comments)
Posted by: Author: SARS
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Author: SARS

The proposed rule amendment extends currency conversion to the value of goods exported if that value is expressed in a foreign currency (Customs Act).

Please click here to view the proposed amendments (5 November 2015).

Depending on the quality feedback received, SAIT will be making a submission to SARS.  Kindly submit all comments to by no later than 17 November 2015.


Section 240A of the Tax Administration Act, 2011 (as amended) requires that all tax practitioners register with a recognized controlling body before 1 July 2013. It is a criminal offense to not register with both a recognized controlling body and SARS.


The Act requires that a minimum academic and practical requirments be set to register with a controlling body. Click here for the minimum requirements of SAIT.

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