Definition
The "generic" customs code used by private individuals for low-value imports; heavily regulated and limited by a R150,000 annual threshold. Goods cleared under this code are subject to a flat 20% customs duty plus VAT and are intended for personal, non-commercial use only.
Frequently asked questions
What is 70707070 (Customs Code)?
The "generic" customs code used by private individuals for low-value imports; heavily regulated and limited by a R150,000 annual threshold. Goods cleared under this code are subject to a flat 20% customs duty plus VAT and are intended for personal, non-commercial use only.
Which glossary terms are related to 70707070 (Customs Code)?
70707070 (Customs Code) is a customs & sars term in the South African import/export industry. Related terms in the same area include Ad Valorem Duty, AEO (Authorised Economic Operator), Anti-Dumping Duty, B-BBEE (Broad-Based Black Economic Empowerment), Bill of Entry — each has its own plain-English definition in the TradeCaravan glossary.