Liquidate your PP's

Dec 8, 2007
Author: Hester Hopkins of Shepstone & Wylie

Thousands of rands are being given away to Customs by importers failing to liquidate their Provisional Payments, or PP's as they are known in the industry.

Hester Hopkins of Customs @ Wylie, an initiative of Shepstone & Wylie’s International Trade Departments says that there is a very definite trend showing a failure to liquidate PP's.

“In addition to loss of payment, this can lead to fines and penalties being levied by Customs,” she adds.

Hopkins explains that PP's made to Customs are used to secure revenue which is due or may become due.

“It does not mean that since you have deposited the PP, that you now have no further obligations to meet. One needs to consider what conditions have been imposed by Customs or look at the underlying reason for the PP,” she says.

Hopkins advises that by reviewing all PP's, substantial amounts of money may be able to be recovered and possible penalties avoided by simply complying with your obligations.

Anyone wishing to review their PP's or with queries, may visit
customs@wylie.co.za