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Metal Recycling News March 12, 2020 08:30:04 PM

South Africa Invites Public Comments on Scrap Metal Export Taxes

Paul Ploumis
ScrapMonster Author
The first phase will start immediately and will run up to end-April this year.

South Africa Invites Public Comments on Scrap Metal Export Taxes

SEATTLE (Scrap Monster): The South Africa National Treasury has invited public comments on the proposed taxes on scrap metal exports out of the country.

According to the basic approach for consultation, the consultation will take place in two phases. The first phase will be shorter and would welcome broader public comments. The second phase will be more intensive, where public could submit their input on the proposed legislative provisions towards effective implementation of specific taxes on scrap metal exports. The suggestions will be considered for inclusion in the 2020 draft Taxation Laws Amendment Bill (TLAB).

ALSO READ: Tanzania's Minister Hints at Revamping Scrap Metal Export System

The first phase will start immediately and will run up to end-April this year. The second phase will run from mid-July to end of August or September 2020. The treasury noted that all written comments on the proposal must be submitted on or before 9th April, 2020. It will organize technical workshops till end-April to discuss the comments received. Public hearings will be conducted on the TLAB before it is formally introduced in the Parliament, Treasury noted.

The proposed export duty on ferrous and non-ferrous waste and scrap metals is intended to replace the current Price Preference System (PPS).

 

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