In brief Proposed amendments to the Customs Rules (Rules) under sections 40(3), 41(4), and 120 of the Customs and Excise Act were published for public comment by the South African Revenue Service (SARS) in January 2024. The proposed Rules are intended to formalise the process for reporting transfer pricing adjustments impacting customs values declared to SARS at the time of importation. Public comments on the proposed rules close on 9 February 2024. In more detail…
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