#WATCH I Join us on the 25th of October for a session on customs valuation in the world of trade and customs. We will explore the importance of customs value, the legislation surrounding customs valuation, and how the customs value is calculated.

Customs Valuations

The world of Customs and Excise is an exciting but somewhat intimidating landscape, particularly for those who are entering into this new trepidatious realm. Jump on board as SNG Grant Thornton’s Customs and Excise Senior Manager, Sipho Mhaga, takes us on a journey to easily and practically understand why customs value is essential to the calculation of the total duty to be paid on imported goods.

Learn more about important terminology and principles like Transaction Value, Customs Value Hierarchy, and Customs Valuation Database, enabling you to offer your clients comprehensive advice and insight.

Webinar Content

• Unpacking the Agreement on Implementation of Article VII of the General Agreement on Tariffs and Trade (GATT) 1994, also known as the WTO Customs Valuation Agreement.
• Why is a customs value necessary?
• Is the customs value used for any other purpose other than import duty?
• How to source the correct legislation covering the customs valuation?
• How is customs value calculated as well as the various methods of customs valuation, in descending order of precedence?
• Commentary analysis on the Customs value of imported goods.

Competencies developed in this webinar

• Gain an eloquent understanding of the various international agreements in place that govern the calculation and valuation of customs.
• Understand the purpose of customs valuation and where else these values can be applied.
• Obtain insights into the latest accurate customs legislation.
• Acquire the ability to practically implement the six stages of customs valuation in their descending order of precedence.
• Comprehend the Customs Valuation Database and how SARS makes use of it to reduce the likelihood of incorrect valuations or fraud.

Presenter

Sipho Mhaga

Customs and Excise Senior Manager: Indirect Taxes

Sipho Mhaga is a Senior Manager – Customs & Excise at SNG Grant Thornton. He has over 19 years’ experience in Customs and Excise environment,  Sipho joined the firm in 2023 and before that he spent13 years in the Oil & Gas Industry working for Total Energies, advising business and NBE subsidiaries,  conducing training on customs and excise compliance. He represented Total Energies at SAPIA “petroleum industry body” with engagements with National Treasury, DMRE, SARS and revenue authorities in the BNE countries. He also spent 6 years working for SARS Customs and Excise division as Audit Specialist and advisor to policy department for legislation amendments.

He has bookkeeping training and audit articles Sithole CA (SA) Incorporated.

CPD

Attending this webinar and the successful completion of the online assessment will secure a certificate of completion for 1 hour of Tax CPD.

Event Investment

Free for Tax Practitioner, Tax Accountant CPD subscribers and Practice Packages. Not a CPD subscriber yet? Click here to register now.

• Regular price:  R230.00
• Special rate for SAIT members:  R184.00
• Group booking discounts available when you register for a group.

Payments and cancellations

• All payments must be made by EFT or by credit card, at least three working days before commencement of an event.
• Kindly note that should payment not be received two days after the event, legal action will be taken.
• Proof of payment will be requested at registration if payment does not reflect in The Tax Faculty’s bank account.
• Only written notice of cancellation will be recognized.
• Conditions:
  • If the cancellation occurs more than four working days prior to the event no cancellation fee will be charged.
  • If the cancellation occurs less than four working days prior to the event, a 100% cancellation fee will apply.
• Delegates who book and fail to attend will be liable for the full event fee.
• The Tax Faculty’s liability in the case of an event being cancelled will be limited to a refund or credit of the event fee.
• Please click here for the full terms and conditions.