Customs duty decision delays are hampering billions of rands in investment, says advisory

Consultancy XA Global Trade Advisors says billions of rands in revenue have been lost to the fiscus owing to long overdue customs duty decision-making, while also having more far-reaching implications for industries and trade and investment.

If all of the cases that required changes to customs duties had been finalised – and granted – on time, it would have ensured a collection of R1.25-billion by now, cumulatively, for every case that is long overdue.