Definition
The local currency; its volatility is a major factor in South African landed cost calculations. Customs duty and VAT are assessed on the Rand value of goods at the time of entry, so exchange-rate movements between ordering and clearing can significantly alter the final import cost.
Frequently asked questions
What is ZAR (South African Rand)?
The local currency; its volatility is a major factor in South African landed cost calculations. Customs duty and VAT are assessed on the Rand value of goods at the time of entry, so exchange-rate movements between ordering and clearing can significantly alter the final import cost.
Which glossary terms are related to ZAR (South African Rand)?
ZAR (South African Rand) is a customs & sars term in the South African import/export industry. Related terms in the same area include 70707070 (Customs Code), Ad Valorem Duty, AEO (Authorised Economic Operator), Anti-Dumping Duty, B-BBEE (Broad-Based Black Economic Empowerment) — each has its own plain-English definition in the TradeCaravan glossary.