Customs Duty is levied on imported goods in terms of the Customs and Excise Act [Chapter 23:02] whilst Excise Duty is levied on certain locally manufactured goods in terms of the same Act. Rates of Customs and Excise Duties are set out in the Customs Tariff, which is published in the form of a Statutory Instrument. The rates vary according to the category of goods.
Value Added Tax (VAT) is another tax levied on imported goods in terms of the Value Added Tax Act [Chapter 23:12].
A Special Excise Duty is charged on change of ownership of locally registered second-hand vehicles at a rate of 5% of the value of the second-hand motor vehicle in terms of the Customs and Excise Act [Chapter 23:02].
Duty may be reduced or waived where the following circumstances exist:
- Bilateral and multilateral agreements