In the last decade, import duties of R670 million was overpaid and R1.5 billion was underpaid ion sugar imports. Unlike other products, the change in duties on sugar are automatically triggered when the global sugar price moves up or below a particular benchmark for a period of 20 days.
Stratalyze’s Trigger Tracker monitors the global price of sugar and automatically calculates when the duty should change and what it should change to. For the first time, there is now a tool to ensure these triggers are never missed again.
Notifications
As soon as a trigger has been hit, we notify SARS and ITAC of the change, so the changes are swiftly addressed. Unlike other changes, there is no investigation. When the trigger has been hit, the change should be automatic.
Also, you get….
- Complete history of every change since 2014, along with the supporting documents
- Copies of the court cases related to trigger duties
- Access to import and export stats of sugar back to 2010
