Major tax and customs relief at RBIDZ
Enterprises will enjoy streamlined processes for licensing, registration and movement of bonded goods.
THE Richards Bay Industrial Development Zone (RBIDZ) is officially in business to offer investors a range of rewards at its Phase 1A industrial estate, adjacent to the Port of Richards Bay.
The South African Revenue Services (SARS) recently approved the site as a customs control area (CCA).
All investors established within the park and registered with SARS as Customs Control Area Enterprises will enjoy a long list of incentives, such as relief from customs duties at the time of importation into the CCA for any goods for storage, raw materials for manufacturing and machinery used in the manufacturing process.
Customs procedures will also be simplified for the clearance of goods; applications for designation licensing and registration; release of cargo; consideration of stage consignments and release under embargo.
Furthermore, enterprises will enjoy streamlined processes for licensing, registration and movement of bonded goods.
Fiscal incentives will also be given for imported goods and raw materials as well as exported goods and services at the estate.
No import duties and value-added tax will be payable on goods imported for construction and maintenance of infrastructure on site.
These benefits have been approved to apply onsite indefinitely.
RBIDZ two months ago officially opened a R16-million state-of-the-art gate complex at the estate, which will provide office accommodation for the CCA officer, property officer, SARS officials, security control and a small conference room for up to 12 people.
‘It is one of the greatest milestones for the RBIDZ and our tenants, and it indicates that indeed, Phase 1A is open for business,’ said RBIDZ CEO, Pumi Motsoahae.
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