Legal and Policy
2021 Legal and Policy

Legal and Policy - 22 July 2021



  • 20 July 2021 – A temporary solution for over carried cargo was implemented. It has been noted that the withdrawal of the DA 31 for over carried cargo has left a void in the treatment of over carried cargo. SARS further acknowledges that the temporary solution that was put in place regarding the usage of the DA 6 until a more permanent viable solution is provided may not be a legally viable solution and the incorrect usage of the DA 6 as it was not intended for the purpose of over carried cargo.

Clients are advised that the newly approved interim procedure for over carried cargo will be to submit a manual voucher of correction (VOC) under the provisions of Section 40(3)(a)(i)(C) to the respective Branch Office where once processed a manual release will be provided to the declarant. See the signed letter here.

  • 20 July 2021 – An updated Venture Capital Companies’ list was published. One of the main challenges to the growth of small and medium-sized businesses and junior mining exploration is access to equity finance. To assist these sectors in terms of equity finance, Government has implemented a tax incentive for investors in these enterprises through a Venture Capital Company (VCC) regime.

VCCs are intended to be a marketing vehicle that will attract retail investors. An investor is any taxpayer who qualifies to invest in an approved VCC. They have the benefit of bringing together small investors as well as concentrating investment expertise in favour of the small business sector. There are no special tax benefits for the VCC itself, only standard tax rules will apply. To see the list and for more information, see the Venture Capital Companies webpage.

  • 17 July 2021 – Customs officers of the South African Revenue Service (SARS) seized 32 pieces of rhino horn, weighing 160kg, at a cargo transit shed at the OR Tambo International Airport earlier today.
  • The Customs officers were conducting manifest profiling with the Detector Dog Unit at the airport when one of the dogs identified a suspicious shipment destined to Malaysia (Kuala Lumpur). For more information, see the full statement here.
  • 16 July 2021 – The eFiling pop up message for the filing of the Income Tax Return for companies (ITR14) for the 2021 year of assessment that intend to deregister with CIPC ONLY has been removed. SARS apologises for any inconvenience caused. A company must submit its ITR14 tax return within 12 months of its financial year-end. For more information, see the Guide on How to complete the Income Tax Return ITR14 for Companies.



Date22 July 2021