On 24 March 2023, ITAC initiated an investigation to consider increasing in the customs duty on stay wire, tariff code 7312.10.27, from 5% to the WTO bound rate of 15% ad valorem.
Wireforce brought the application, and all interested parties have been given 4 weeks from the date of publication to respond. The applicant provided the following reasons for the request:
- The domestic industry employs several people and has made substantial investments over the years.
- The applicant has identified an anomaly in the tariff structure where the main input material attracts a significantly higher ordinary customs duty than the finished product.
- The main input material used to manufacture stay wire is predominantly procured locally, which positively impacts the local industry.
- Stay wire imports originating from Asian countries continue to flood the domestic market at unsustainable prices, thus posing a threat to the domestic industry.
- SACU produces enough stay wire to meet domestic demand.
The applicant believes an increase in the general rate of customs duty will help the domestic industry increase production and reduce the importation of low-priced products.
Interested parties have to submit their responses by 21 April 2023.
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