ACCOUNTANT EXPLAINS: SARS SKYROCKETS Customs duty and VAT When Buying Online To SA🇿🇦 (Calculations)

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ACCOUNTANT EXPLAINS: SARS SKYROCKETS Customs duty and VAT When Buying Online To SA🇿🇦 (Calculations)

Рет қаралды 2,035

2 ай бұрын

SARS has increased the taxes on clothing imports to 45% plus VAT. This will have a massive impact on clothes ordered from platforms like Shein and TEMU to South Africa. In this video, I quantify the impact of this change that’s coming into effect from the 1st of July 2024.

Пікірлер: 41

@thulisilemasimula4724 Ай бұрын

Buying from Shein is convenient. I don’t have to run around the mall looking for a specific item. Thank you for the video I’ll use this formula to estimate the import costs

@xireninsights Ай бұрын

Online shopping is very convenient. But locally we have the likes of superbalist and other stores, just not sure if they have a diverse range.

@matthewdoma3913 Ай бұрын

We are not buying from local cause they don’t have the quality clothes we get on shein that’s all their clothes looks like we still living in 80s. I don’t support local until they get us same clothes quality we getting over seas. If it’s boring them why they don’t just follow suit and buy there as we doing

@xireninsights Ай бұрын

I get you hey. Sometimes it’s not even about price but just being able to have options ❤️

@chikondimbewu3172 2 ай бұрын

Thank you for your explanation. So this applies to both orders under R500 and over R500? Because I see people arguing and saying it o ly applies to orders under R500

@modiengkoalagobe741 25 күн бұрын

Thank you for the explanation, I’ll still buy from SHEIN because our locals are also expensive and the quality of the products had declined drastically. I’ve placed an order for R1700 and as I follow your calculations I will be paying customs fees of approximately R950

@xireninsights 24 күн бұрын

That’s true, local is still expensive and there’s no variety. It’s also worth noting that not all items from shein are taxed at the same rate, non clothing items like bags, shoes, accessories etc can still be at a lower rate.

@karny2323 16 күн бұрын

How did you achieve the 950... And when bulk buying, are these rates charged on each item bought or only on the total of the order?

@motheontilane4005 2 ай бұрын

Fiscal policy w intent to support local industries is a good thing but Yoh hai this feels oppressive. Price price point aside (because you’ll be shocked that SAns have money to shop yeyi!), it’s really the range and convenience that international trader are giving us.

@xireninsights 2 ай бұрын

😂 South Africans do have money that’s why there are queues at diamond walk and the same group of people still buy from shein. I think we just want options so I still think people will still import and the Chinese will also just become smarter about it so that they don’t lose business.

@ThabisoRatlou 2 ай бұрын

International traders have shown that local traders are not giving us options we need hence people are supporting international traders. I support the move but local traders must also expand their options to encourage local spending.

@xireninsights Ай бұрын

💯 That’s so true, we need options.

Ай бұрын

Local traders are ridiculous like 3 times the amount on items , that's why we import.

@xireninsights Ай бұрын

True… I still think even with the increase in the taxes, the imported stuff is still cheaper compared to the local items

@meninpapin Ай бұрын

Do custom open packages to see what the content is to calculate import fees since the some of the parcels do arrived like it was in a war zone. Also I think the weight also increase import fees.

@xireninsights Ай бұрын

😂 I think they use a scanner but sometimes they do open. Yes with certain items weight also plays a role.

@enokbazillion3262 Ай бұрын

Sorry for being a bit of topic but is the import tax the same for buying cars overseas for example the UK?

@xireninsights Ай бұрын

Hi. Yes the concept is similar but with buying a car you’ll pay customs duty + ad valorem duties + VAT. So If you’re importing a car with a value of R200k, you might end up paying over 65% in import taxes

@dladlate7864 Ай бұрын

dankie msizo.. ke kgonne go tlhaloganya sengwe le sengwe nouyana. msuko SARS bannah🤦🏾‍♂️🤣🤣

@mphograce0 Ай бұрын

Will the taxes be calculated on the price I paid for goods even with discounts or will they look at the actual value of clothes?

@mapsmaps805 Ай бұрын

Thank you for the explanation dear. We will get used to the new cost. I for one will continue buying at SHEIN due to the variety they have, plus I'm not ready to go to rehab for my addiction 😂😂

@xireninsights Ай бұрын

You’re welcome. As for your addiction… not even the new cost can cure it 😂😂😂

@housemusic977 3 күн бұрын

Its funny how they say its meant to discourage us to help local....we all knw they doing it to eat our money

@xireninsights 2 күн бұрын

Hahaha 🤣 Maybe deep down they do have good intentions😅

@ZARO-7 Ай бұрын

Gov. Don't care about us

@xireninsights Ай бұрын

Not at all… we on our own

@user-ee9hy4nz7l Ай бұрын

My sister tell me something, are these taxes you are talking about are they only apply to clothing items not to any other items sold at Temu?

@xireninsights Ай бұрын

I was just browsing through the 700 pg SARS schedule of duty taxes 🤣. So it appears that clothing custom taxes are one of the highly priced one at 45% (but also. So other non clothing items are mainly around 15 -30%) So even footware, bags, linen is taxed below 45%. But there’s also luxury tax charged on certain goods called ad valorem excise duty like certain electronics, vehicles, perfumes, cosmetics etc

@user-ee9hy4nz7l Ай бұрын

@@xireninsights Thanks my sister

@meninpapin Ай бұрын

My previous purchase from Temu was R2300. I've paid R433,10 on custom duty & tax b4 the new law kicks in. tomorrow From July I would've paid R1380 on custom & tax on the above mentioned purchase. That's over 3x the amount I was paying on import fees.

@Unathiwealth Ай бұрын

Yooooh.. 😂I want to spend 5k my customs will be 3k mos😂

@lesegotseke2384 Ай бұрын

Is this strictly on clothes? Coz Temu also sells different items and not only clothing

@xireninsights Ай бұрын

Yes this is strictly on clothes, different items incur different taxes. The clothing items seem to be taxed on a higher %

@selaeloyolendah974 Ай бұрын

Hi, please clarify for me, where is the 10% coming from?

@xireninsights Ай бұрын

When it comes to imports, the VAT Act requires that they add 10% before they can calculate the 15% VAT.

@selaeloyolendah974 Ай бұрын

@xireninsights ohhh my word. I didn't know this, thank you so much for the insightful video

@tshepisomonyobo1675 Ай бұрын

Thanks for the information 🎉

@xireninsights Ай бұрын

You’re welcome ☺️ ❤️

@chikondimbewu3172 2 ай бұрын

Thank you for your explanation. So this applies to both orders under R500 and over R500? Because I see people arguing and saying it o ly applies to orders under R500

@chikondimbewu3172 2 ай бұрын

Thank you for your explanation. So this applies to both orders under R500 and over R500? Because I see people arguing and saying it o ly applies to orders under R500

@xireninsights 2 ай бұрын

The orders above R500 were already being taxed on a higher rate so now they’ve just standardised it. However, some wouldn’t declare it as clothing but other goods with a lower tax rate in order to reduce the import duties that’s why it seems like clothing above R500 is not being taxed at a higher rate