South Africa implements a three-year defense tax on imported steel screws, bolts and hexagon nuts

According to the latest announcement of the International Trade Administration Commission of South Africa (ITAC), from July 24, 2020, except for certain developing countries, which may obtain exemption (such as: Brazil, Mexico, Russia, Indonesia, Thailand, Turkey, Vietnam The ad valorem defense tax will be imposed on steel screws, bolts and hexagon nuts (Customs Code: 7318.15.41, 7318.15.42 and 7318.16.30) imported into South Africa. China is also in the affected countries.

The three-stage defense tax rates are as follows:

Stage I: 54.04% (2020 / 07 / 24-2021 / 07 / 23)

Stage II: 52.04% (2021 / 07 / 24-2022 / 07 / 23)

Stage 3: 50.04% (2022 / 07 / 24-2023 / 07 / 23)