NEWS ALERT - Importers: Advance Import Payments
The South African Revenue Service has implemented a new functionality on its eFiling platform for importers to notify SARS when they want to apply to an authorised dealer for an advance foreign exchange payment in respect of goods to be imported.
The Advance Import Payment (AIP) Notification as part of the Advance Payment Notification (APN) project is one of SARS’ Customs Modernisation Programmes that aims to combat illicit financial flows and customs valuation fraud associated with the misuse of advance foreign exchange payments in respect of goods that are to be imported.
This places additional responsibilities on the shoulders of clearing agents and their clients, the importers.
For more information, please visit https://www.sars.gov.za/customs-and-excise/advance-import-payments/
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