The South African Revenue Service (“SARS”) has been cracking down on compliance in respect of petroleum products, including the provision of bunkers to foreign going vessels.
The South African Revenue Service (“SARS”) has been cracking down on compliance in respect of petroleum products, including the provision of bunkers to foreign going vessels.
Historically, SARS allowed the refund against being furnished with a copy of the duly stamped Bunker Receipt and against processing of a customs clearance (SAD 500) using the appropriate rebate code.
However, SARS is now insisting on strict compliance with SARS’ Excise External Policy on Bunkering of Foreign Going Ships (SE-BFS-02) for the provision of bunkers to foreign going vessels.
Best practice dictates that copies of documents relating to bunkering operations at South African ports, should be retained for 5 years in terms of the Customs & Excise Act 91 of 1964.
Full advisory at the following link.