Q199: Why can’t I sell FOB or FCA from South Africa?

A199: In 2014 the VAT Export Incentive Scheme was replaced with Export Regulation R.316. This Regulation is broken into parts. Part Two of the Regulation outlines the procedure for Indirect Exports, that is, exports where the Qualifying Purchaser (the buyer) appoints and pays the carrier, and where the SA vendor elects to zero-rate the supply, […]

Exchange Control & VAT for Exports

Day One Exchange control for exports and merchantingThe UCR SystemDefault positions and solutions.BoP Reporting Day Two Overview: A course covering the complexities of the vendor’s VAT position dealing with export and offshore supplies in international trade. Detail: Export Regulation R.316 and Indirect Exports;Zero-Rated Direct Exports & VAT;Special SuppliesReturn & Repair;Merchanting and offshore selling, etc.We will […]

Q198: What is the best Incoterm when exporting? (Part Two)

A198: This is Part Two of the answer; Part One is covered under A197. To summarize Part One – Assuming that they elect to use Incoterms Rules, then, as EXW and DDP are classed as domestic transactions and as the F-prefixed terms are prohibited, and further, with CFR/CIF and DPU all being physically unlikely if […]

Q195: When should I invoice a sale in a CIF contract?

A195: This question comes up frequently, often in this simple form, but there isn’t a simple answer. There are many variables at play and the ultimate answer is influenced by factors such as whether payment has been made and how; which version of CIF is being referred to; and crucially, by the type of documents […]

Q194: When may I sell my exports in a foreign currency?

A194: This seems like a simple question, with many sellers, I am sure, convinced that it is their choice when to price and sell their goods in a foreign currency, but there’s a bit more to it than that. There are three external and overriding issues to consider before contemplating the seller’s risk appetite for […]