Application Procedure for Warehouses and Rebates Facilities
Duration: 1 hour
Price: R99.00
Application Procedure for Warehouses and Rebates Facilities
Presenters : Christo Theron
Overview
The use of Customs and Excise warehouses is widely applied in the manufacturing and import and export processes.
Generally Customs and Excise warehousing is aimed at delaying the payment of import duty and VAT.
It is not generally appreciated that Customs warehousing can take many forms and that the compliance requirements for each are unique.
Warehousing includes normal Customs and Excise storage warehouses, special Customs and Excise storage warehouses as well as State warehouses.
Customs legislation also makes provision for rebate stores where materials for the manufacturing of specified goods may be imported into the rebate store under rebate of duty (and in certain instances VAT).
This video unpacks the different categories of storage and rebate facilities, the benefits of using each facility and the Customs and VAT implications of each.
This is essential knowledge for all businesses involved in the use or operation of Customs and Excise warehouses or manufacturing facilities, as well as for auditors who have clients operating in this field.
Video Content
- Introduction
- Types of storage facilities:
- State Warehouses
- Public Customs Warehouses
- Private Customs Warehouses
- Types and functions of rebate stores
- Customs Duty implications of each category of warehouse
- VAT implications
Competencies Developed
On completion of this video, practitioners are able to:
- Identify the different categories of warehouses for Customs and Excise purposes
- Understand the Customs duty implications for each category of warehouse
- Understand the nature and purpose of rebate stores
- Apply the VAT principles for each of the categories of warehouses and rebate stores