Customs duty decision delays are hampering billions of rands in investment.
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Consultancy XA Global Trade Advisors says billions of rands in revenue have been lost to the fiscus owing to long overdue customs duty decision-making, while also having more far-reaching implications for industries and trade and investment.
If all of the cases that required changes to customs duties had been finalised – and granted – on time, it would have ensured a collection of R1.25-billion by now, cumulatively, for every case that is long overdue.
If all of the cases that required changes to customs duties had been finalised – and granted – on time, it would have ensured a collection of R1.25-billion by now, cumulatively, for every case that is long overdue.
