ZATCA issues Bonded Zones Rules in Saudi Arabia

ZATCA issues Bonded Zones Rules in Saudi Arabia

Zakat, Tax and Customs Authority (ZATCA) of the Kingdom of Saudi Arabia has issued Bonded Zones Rules, which aims to outline the statutory provisions for licensing of bonded zones and for practicing the activities within these zones. In addition, the Rules specify the obligations of operators and ZATCA control and supervisory functions pertaining to the […]Zakat, Tax and Customs Authority (ZATCA) of the Kingdom of Saudi Arabia has issued Bonded Zones Rules, which aims to outline the statutory provisions for licensing of bonded zones and for practicing the activities within these zones.

In addition, the Rules specify the obligations of operators and ZATCA control and supervisory functions pertaining to the bonded zones.

The rules include clarifying the procedures for licensing and activities of the bonded zones, the conditions for applying for licenses, as well as the requirements, specifications and obligations, in addition to the provisions related to the obligations of operators and the powers of ZATCA in this regard.

Bonded zones are a special customs area that allows importers, exporters and logistics companies to store goods and carry out logistic activities and operations under suspension of customs duties and taxes until they are entered into the local market or re-exported, thereby increasing