New South African Revenue Service · 2013. 4. 8. · South African Revenue Service
South African Export Exchange Controls Pieter Ehlers Financial Surveillance Department South African...
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South African Export Exchange Controls Pieter Ehlers Financial Surveillance Department South African Reserve Bank
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Transcript of South African Export Exchange Controls Pieter Ehlers Financial Surveillance Department South African...
South African Export Exchange Controls
Pieter Ehlers
Financial Surveillance Department
South African Reserve Bank
Introduction
Unique Consignment Reference (UCR) compilation
Reporting: General Balance of Payment categories applicable to
exports FinSurv Reporting: All export transactions FinSurv Reporting: Third party export
transactions Matching Summary
• 2
Z A3 0 00 1 11 1 41 45• 1
2• 1
4• 1
5• 1
3• 1
7• 1
8• 1
6• 2
0• 2
1• 1
9• 2
3• 2
4• 2
2• 2
6• 2
7• 2
5• 2
9• 3
0• 2
8• 3
2• 3
3• 3
1• 3
5• 3
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• Last digit of the year of export (1)
• Last 24 digits: Unique number exporter will use to link export proceeds with a specific export. Can be
invoice, quotation, order, contract, client specific number or name of the foreign customer, etc.. (1 – 24)• Customs
Client • Number (8)
• SWIFT
• Country
• Code (2)
• 2• 3• 1 • 5• 6• 4 • 8• 9• 7• 1
0• 1
1
• 12 character minimum : 35 characters maximum
• No changes to first 11 characters
• 2 • 3• 1 • 5 • 6• 4 • 8 • 9• 7 • 10
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• Unique characters12-35 • Alpha numeric, no special characters
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• 14
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• 17
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• 23
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• Avoid certain specialised characters
Unique Consignment Reference compilation (Block 28 of SAD 500 and FinSurv Reporting System
Reporting
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SARB receives two streams of data. Customs provide SARB with export data. Banks report to SARB the cross-border transactions
via the FinSurv Reporting System.
AUTHORISEDDEALERS
Export proceeds withCCN & UCR
CCN or UCR
SARB
CUSTOMS
Export data post-clearance with CCN & UCR
101
01
02
03
04
05
06
07
08
0910
11
Excluding the below named
Capital goods
Gold
Platinum
Crude oil
Refined petroleum products
Diamonds
Steel
Coal
Iron Ore
Exported via the SA Post Office
CAT SUB CAT Description01 to 11 Advance payment101
Balance of Payment categories - exports
Exports excluding advance payments 101
Good purchased by non-residents where no physical export will take place – excluding Merchanting
01 to 11103
Consumables supplied in port105
Repayment of trade finance for exports106
Exports with customs value of less than R500.00107
Payments for export goods declared as luggage (no UCR)108
01 to 09109
Merchanting110
CAT SUB CAT Description01 to 11 Receipt of advance payments101
Balance of Payment categories – exports (ctd)
FinSurv Reporting of payment: All exports
The UCR is reflected in the field applicable to the UCR under the Import / Export data element of the transaction reported to the SARB.
The entity who receives the export proceeds is reflected as the account holder, with the Customs Client Code allocated to the account holder.
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FinSurv Reporting of payment:Where a third party is the actual exporter
In cases where the actual exporter, who completed the SAD 500, does not receive the export proceeds, the details of the actual exporter must be reflected under the Third Party Details of the transaction reported to the SARB.
The entity who receives the export proceeds is reflected as the account holder, with the Customs Client Code allocated to the account holder.
• 8
FinSurv Reporting of payment:Where a third party is the actual exporter
The Customs Client Code of the third party is reflected under the Third Party Details.
The UCR is reflected in the field applicable to the UCR under the Import / Export data element of the transaction reported to the SARB.
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FinSurv Reporting of payment:Where a third party is the actual exporter
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Matching of data: Micro and Macro
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Micro
0011111
SARB
Non SA
1st leg: Physical Export
RESIDENT EXPORTER 1
3ZA00011111454
USD 12,000,000.00
33ZA00011111454
USD 12,000,000.00
2nd leg: Payment for goods
2 4
NON-RESIDENTIMPORTER
Payment advice
00011111
CUSTOMS AUTHORISED DEALER
RESIDENT EXPORTER
Macro
Summary
Financial Surveillance Department (FinSurv) monitors exports with the Electronic Export Monitoring System.
Non receipt of export proceeds is followed up by FinSurv with the exporter’s Authorised Dealer.
Failure to comply with Exchange Control Regulations may lead to FinSurv applying remedies available, i.e. prosecution for transgressing the regulations.
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