The adjustments will affect consumers and the South African fashion industry
Lost your password? Please enter your username or email address. You will receive a link to create a new password via email.Imported goods are subject to customs duties and a 15% VAT rate based on their value, which must be paid to Sars.
Imported goods are subject to customs duties and a 15% VAT rate based on their value, which must be paid to Sars. The rate of customs duties differs depending on the type of goods imported and the country of origin. Goods that can be sourced locally through the local manufacturing industry would typically be taxed at higher customs rates. This ensures that South African manufacturers and suppliers are not disadvantaged.
Effective 1 September 2024, VAT is added to the current 20% flat rate customs duty as a temporary measure. By 1 November 2024, the 20% flat rate will be restructured to align with the WCO categories.are calculated based on the declared value of the goods, including any applicable shipping costs and insurance. Sars has adjusted the duty rates to make importing small, low-value items less economically attractive.
The South African textile and clothing market is characterised by a mix of locally produced goods and imports. The market is a mix of established local brands and retailers, with a growing interest in affordable, fast-fashion imports and luxury, local products for niche markets. The retail sector, which includes both huge chains and independent stores, is a key driver of demand.
The successes of Africa’s vehicle regional value chains teach us how to create “hub-and-spoke” supply chains with some countries acting as main hubs and others as supportive hubs depending on relative specialisation. Special Economic Zones also play an important role in the growth of manufacturing and industrialisation.
Protecting local production also highlights the industry’s ability to foster opportunities for skills development and entrepreneurship, particularly among young adults. The AfCFTA emphasises the importance of creating these opportunities for women and youth, a cornerstone of development which is critically important in Southern Africa.
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