- Saudi Arabia’s Zakat, Tax and Customs Authority (ZATCA) issued rules for bonded zones on January 26, 2024.
- Bonded zones are special customs areas where goods can be stored and logistic activities can be carried out without customs duties and taxes.
- These zones help with liquidity management, movement of goods, and flexibility in clearance, storage, and re-exporting.
- The rules clarify procedures for licensing and activities, requirements for acquiring licenses, and obligations for operators.
- ZATCA has powers related to bonded zones.
Source: premier-brains.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
