On 24 February 2023 ITAC initiated a review of the customs duties on certain aluminium plates, coils, sheets, can stock, strips and foil classifiable under tariff headings 76.06 and 76.07.
Previously, the Commission had recommended that the duty on tariff headings 76.06 and 76.07 be increased from free of duty to 15% ad valorem. This increase was implemented by SARS on 31 December 2020. It had further recommended a review of this customs duty after at least one (1) year, following its implementation to monitor the performance of the aluminium value chain.
Duty reviews are an incredibly important trade policy instrument as they allow a calibration of the duties to the new reality in the market. Duties are not meant to remain static. They should give relief when the industry requires it, but when duties are left in place without review, industries lose their competitive edge.