Saudi Arabia: Deferral of customs duty for 21-day period after importation
Saudi Arabia: Deferral of customs duty
The General Authority of Zakat and Tax (GAZT), and the General Customs Authority (GCA) launched an initiative to defer the payment of customs duties and taxes on goods imported into Saudi Arabia.
The program was effective 15 March 2021, and allows the postponement of import taxes for a period of up to 21 days following the date of the clearance of the goods for home consumption in the Saudi market.
The new mechanism also aims to provide incentives to enhance investment opportunities in Saudi Arabia’s postal logistics services sector and to encourage new entrants to the market.
Beginning 1 July 2021, suppliers and manufacturers will be required to obtain a national certificate of conformity for electro-technical equipment and components in order that the products can enter and be traded in Saudi Arabia including electrical cooking utensils (such as water boilers, all coffee-making devices), electric oil fryers, certain small electric pumps, electric power cables, and game devices and their accessories (video game equipment, controllers, wireless headsets, chargers, and accessories)
For more information on this topic or to learn more about KPMG’s Trade & Customs Services, contact:
Doug Zuvich | +1 312-665-1022 | firstname.lastname@example.org
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