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South Africa:Export benefits for textiles sanctioned by
trade and industry dept sanctioned by trade and industry dept |
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2005-2-22
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In a bid to encourage small clothing and textile exporters to take full advantage of the programme, the department of trade and industry has extended the benefits derived from the duty credit certification scheme (DCCS).
Earlier, if the exporters registered export less than 15 percent of their total revenue then they could claim only 15 percent of their export earnings in the form of duty credit certificates.
However, come April 1, and all exporters will be able to claim back duty credits as follows; 25 percent for clothing exports, 17.5 percent for household textiles, 12.5 percent for fabric and 8 percent for yarn.
In cases where a duty credit certificate was 35 percent, industry insiders say that percentage reclaimed would now stand reduced.
The DCCS has been amended as it potentially falls foul of World Trade Organisation (WTO) regulations and the minister of trade and industry has approved its replacement by the interim textile and clothing industry development programme, with effect from April 1.
The interim programme will run until March 31 2007 and it is hoped that the small textile and apparel exporters shall be able to exploit it to the utmost. |
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