The Tradex Scheme allows exporters an up-front exemption from import tariff duties. Other taxes apart from excise taxes but including the Goods and Services Tax on imported goods. To be re-exported or to be incorporated in goods to be exported.
The application needs to be received prior to the importation of the goods.
Upon approval, Saving Point can guide their clients through the process. The customer with regards to active self-assessment and compliance with regulations. Including the keeping of appropriate records and reporting systems.
Tradex Scheme Eligible Criteria
The Tradex scheme thus largely removes the need to drawback these charges after export. The eligibility criteria applying to the Tradex Scheme include the following:
the applicant intends to import nominated goods that are to be subsequently exported;
the nominated goods will be exported within one year after entry into home consumption; and
adequate record keeping and accounting systems are in place in respect of the nominated goods until they are exported.
Saving Point can support prospective customers to complete a Tradex application form. For approval as a Tradex Order holder under the Scheme.