Customs & International Trade
An overview of customs, excise and international trade:
South African and SACU perspective.
Although many people may believe that the payment of duty on cross-border transactions is a recent development, it actually dates back to the days of the pharaohs. Essentially there is very little international terminology that is recent. The majority of these concepts have been in existence and even reported on in the definitive economics book called The Wealth of Nations by Adam Smith.
However, the immediate misconception is that since such terminology has been around for so many years, it is known and understood by all. This is not the case.
In recent years there has been a number of defining moments in the international trade landscape, but nothing more so than the establishment of the World Trade Organisation (WTO) on 1 January 1995, introducing a rule based system in international trade, covering all aspects of it. The WTO and the World Customs Organisation (WCO) form the definitive institutions in international trade.
Against this backdrop it is important to consider some of the aspects that will affect your business. Each heading below is addressed in more detail. Click on the relevant topic to view the information.
