Date post: | 18-Jan-2016 |
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Prepared and presented by
Ricky Pillay
EXPORT CYCLE(Roles and Responsibilities)
AGENT OF
EXPORT CYCLE - Roles and ResponsibilitiesINDENT or SALES contract
Banking rules - Commerical1 - SARB2
Contract of Carriage
Contract of Insurance
VAT Customs clearance other
Seller
Buyer
Goods
Price
Incoterms
Pre-inspection
Payment
Mode
Documents
Dispute
Clearing/shipping instruction Time periods for clearances Record keeping up to 5 years Delivery address, storage, disposal
INCOME TAX
Beneficiary | Resident
Applicant | non resident
Payment terms | payment method
terms | Payment Risk | SAD box 28
Bank docs | straight b/lading | “to order” b/lading
INDENT or SALES contract
Banking rules - Commerical1 - SARB2
Contract of Carriage
Contract of Insurance
VAT Customs clearance other
Seller
Buyer
Goods
Price
Incoterms
Pre-inspection
Payment
Mode
Documents
Dispute
Clearing/shipping instruction Time periods for clearances Record keeping up to 5 years Delivery address, storage, disposal
INCOME TAX
Shipper
Consignee
Procurement of carriage | unloading , THC ( C+D terms) | limited liability
Breakeven point | transport document
Freight statements
EXPORT CYCLE - Roles and Responsibilities
INDENT or SALES contract
Banking rules - Commerical1 - SARB2
Contract of Carriage
Contract of Insurance
VAT Customs clearance other
Seller
Buyer
Goods
Price
Incoterms
Pre-inspection
Payment
Mode
Documents
Dispute
Clearing/shipping instruction Time periods for clearances Record keeping up to 5 years Delivery address, storage, disposal
INCOME TAX
Insured
Insured
Clause A,B,C (clarify in the sales contract)
Proof of premium
EXPORT CYCLE - Roles and Responsibilities
INDENT or SALES contract
Banking rules - Commerical1 - SARB2
Contract of Carriage
Contract of Insurance
VAT Customs clearance other
Seller
Buyer
Goods
Price
Incoterms
Pre-inspection
Payment
Mode
Documents
Dispute
Clearing/shipping instruction Time periods for clearances Record keeping up to 5 years Delivery address, storage, disposal
INCOME TAX
Vendor
Qualifying purchaser
Zero rate (C+D, E+F) | STD rate | doc. requirements | tax fraction
Tax invoice | invoice currency
EXPORT CYCLE - Roles and Responsibilities
INDENT or SALES contract
Banking rules - Commerical1 - SARB2
Contract of Carriage
Contract of Insurance
VAT Customs clearance other
Seller
Buyer
Goods
Price
Incoterms
Pre-inspection
Payment
Mode
Documents
Dispute
Clearing/shipping instruction Time periods for clearances Record keeping up to 5 years Delivery address, storage, disposal
INCOME TAX
Exporter
Importer
Customs Valuation
Invoice | certificate of origin | packing list | other
Registration, licensing and surety Accreditation and penalties
Prohibition and Restrictions | Tariff classification | origin of goods
Customs Valuation
EXPORT CYCLE - Roles and Responsibilities
INDENT or SALES contract
Banking rules - Commerical1 - SARB2
Contract of Carriage
Contract of Insurance
VAT Customs clearance other
Seller
Buyer
Goods
Price
Incoterms
Pre-inspection
Payment
Mode
Documents
Dispute
Clearing/shipping instruction Time periods for clearances Record keeping up to 5 years Delivery address, storage, disposal
INCOME TAX
Barriers to export
Mandatory local laws may override incoterms (e.g. VAT)
Route | international sanctions | transit laws
Exports
Type of resolution | place of resolution
EXPORT CYCLE - Roles and Responsibilities
Shipping instruction Time periods for clearances Record keeping up to 5 years Delivery address, storage, disposal
INCOME TAX
AHome
B
Transit
H
Export
LOutward processing
K
Home processing
DTemp. import
I
Temp.
export
E
Bond store
StoresF
J
Inward
processing
H
AE
EXPORT CYCLE - Roles and Responsibilities
Clearing/shipping instruction Time periods for clearances Record keeping up to 5 years Delivery address, storage, disposal
INCOME TAX
Status Place of delivery
Delivery timeline
BOE submission
CODE 1 Notification of failure to export
Proof of Export
FCLG depot 6 hrs before goods are packed into a container
Not later than 2 hrs before goods are delivered
When cargo is received at depot
3 calendar days after release
When sea way bill is stamped SOB
FCL Terminal 12 hrs before the export stack closes
Not later than 2 hrs before container reaches terminal
Gate in at terminal
4 calendar days after release
When cargo has exited the gate
BBKBULK
Terminal 6 hrs before schedule departure
Not later than 2 hrs before goods are delivered
When goods are received at the terminal
4 calendar days after release
Code 8 – Failure to get release (code 1) is a failure to exportIncomplete clearance declaration for containerised cargo can be submitted without container number but supplementary declaration inserting container number must be submitted within time frames.
Exports - SEA EXPORT CYCLE - Roles and Responsibilities
Clearing/shipping instruction Time periods for clearances Record keeping up to 5 years Delivery address, storage, disposal
INCOME TAX
BOE submission CODE 1 Notification of failure to export
Proof of Export
Not later than 1 hr before the truck reaches the land border post
Gate 30 minutes after release until goods reach the land border post
When truck crosses export gate (CN2)
Code 8 – Failure to get release (code 1) is a failure to export
Other requirements for carriers Must carry hard copy manifest Must carry hard copy of customs declaration/s Must submit to SARS advance truck, crew and cargo departure notice
Exports - ROAD
EXPORT CYCLE - Roles and Responsibilities
Clearing/shipping instruction Time periods for clearances Record keeping up to 5 years Delivery address, storage, disposal, 522.02
INCOME TAX | transfer pricing
Records must be kept by means of an appropriate computer-based system, subject to any conditions and requirements as may be prescribed by rule.
The customs authority may allow a person to deviate from the above and to use any appropriate paper-based system for record keeping purposes, subject to such conditions or requirements as the customs authority may determine.
The person submitting the declaration, report, statement, return, notice, notification, application, request or other document or communication bears the burden of proving that the information contained therein is true and correct. (CCA 904)
Registered entities must obtain permission from SARS to store records and archives off-site
EXPORT CYCLE - Roles and Responsibilities
Ricky Pillay
AGENT OF