Customs and Excise Act, 1964 (Act No. 91 of 1964)Chapter IXA : Advance Rulings74F. Validity period of advance ruling |
An advance ruling is valid for a period of two years as from the date of issue, unless—
| (a) | another period for the validity of the advance ruling is specified in the ruling; |
| (b) | the advance ruling is withdrawn by the Commissioner in terms of section 74K; |
| (c) | the advance ruling is set aside by a court; |
| (d) | section 74L becomes applicable to the advance ruling; |
| (e) | in the case of an advance tariff ruling, an amendment to an international instrument referred to in section 47(8) causes the advance ruling to lapse; |
| (f) | in the case of an advance ruling on a valuation criterion, an amendment to an international instrument referred to in section 74A causes the advance ruling to lapse; or |
| (g) | in the case of an advance origin ruling, an amendment to an international instrument referred to in section 49(2) relating to applicable rules of origin causes the advance ruling to lapse. |
[Chapter IXA(74F) inserted by section 17(1) of the Tax Administration Laws Amendment Act, 2022 (Act No. 16 of 2022), Notice No. 1542, GG47827, dated 5 January 2023 - comes into effect on a date to be determined by the Minister by notice in the Government Gazette (section 17(2))]