Stealth Taxes: Customs and Excise

Customs and excise is as old as the human race. Duty and toll fees have always been part of the international movement of goods from as far back as biblical times.

Customs tariffs recently gained prominence when the President of the United States used tariffs (which are customs duties) to punish certain trade partners who refused to "dance to his tune." This is not the intended purpose of the international customs duty regime. Fortunately, the judiciary in the US ruled that the President acted outside of his powers by using tariffs as a punitive measure to achieve ulterior motives.

This article briefly touches on the purpose of customs and excise.

Why Customs and Excise?

The primary purpose of customs and excise declarations is to obtain accurate information on the value of goods entering and leaving South Africa. It is, therefore, primarily aimed at providing information for trade statistics.

Accurate statistics are essential to determine the trade balance in South Africa. The trade balance is the difference between the value of goods imported and the value of goods exported. If goods are imported without corresponding exports, the South African economy must finance the shortfall. A trade deficit cannot be financed indefinitely; you can only spend more than you earn for so long before you face bankruptcy.

Hence, the need for accurate and timeous statistics regarding the trade balance is the most important function of customs and excise.

Protecting Local Industries

A secondary purpose of customs and excise is to protect local industries. Where goods are imported more cheaply than they can be produced locally, or goods are "dumped" on the South African market at reduced prices to the detriment of local business, duties are imposed on imports. This equalizes the cost of imported goods versus the cost of locally manufactured goods.

In South Africa, this is specifically prevalent in the textile industry.

Making Money?

The primary function of customs and excise is not to make money for the fiscus, although it does contribute significantly. In the case of the proverbial "sin taxes," the contribution to the national budget is quite substantial.

Summary

Ultimately, customs and excise is about ensuring fair international trade and the protection of local industries where necessary.


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