Description
Without a deferment account, import duties and VAT must be paid in full to the customs authorities at the time of import. A deferment account allows import duties and VAT to accrue on an account basis with SARS customs, and the account to be settled monthly via eFiling.
Having a deferment account for your business can help to ensure shipments are cleared quicker as there is no delay while customs waits for payment. It also reduces administration as customs payments are made monthly and not per shipment.
A separate deferment account is required per customs branch and per transport modality (air, sea, road) used. For example, Cape Town branch sea and air modalities are 2 separate applications. Cape Town branch sea modality and Durban branch sea modality are two separate applications.
**Applications are subject to SARS vetting and consent. This service does not include guaranteed approval.
