Riyadh, 26 January 2024<\/p>\n\n\n\n
Zakat, Tax and Customs Authority (ZATCA) issued Bonded Zones Rules. These Rules outline the statutory provisions for licensing bonded zones and practicing the activities within these zones. In addition, the Rules specify the obligations of operators and ZATCA control and supervisory functions about the bonded zones.<\/p>\n\n\n\n
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 duties of operators and the powers of ZATCA in this regard.<\/p>\n\n\n\n
Bonded zones are a particular 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 liquidity management flexibility, providing an environment supporting the movement of goods, and increasing flexibility of clearance, storage and re-exporting to different destinations. <\/p>\n\n\n\n
In addition, bonded zones facilitate import and export procedures for shipments received in bonded zones and raise the efficiency of trade exchange to promote the Kingdom\u2019s position to become a global logistics hub.<\/p>\n\n\n\n
Bonded Zones Rules can be accessed via ZATCA\u2019s website (zatca.gov.sa).<\/p>\n","protected":false},"excerpt":{"rendered":"
Riyadh, 26 January 2024 Zakat, Tax and Customs Authority (ZATCA) issued Bonded Zones Rules. These Rules outline the statutory provisions for licensing bonded zones and practicing the activities within these zones. In addition, the Rules specify the obligations of operators and ZATCA control and supervisory functions about the bonded zones. The rules include clarifying the […]<\/p>\n","protected":false},"author":13,"featured_media":46938,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_yoast_wpseo_meta-robots-noindex":"","_et_pb_use_builder":"off","_et_pb_old_content":"","_et_gb_content_width":"","_pr_autopilot_social_copy":"","_yoast_wpseo_opengraph_title":"","_yoast_wpseo_opengraph_description":"","_yoast_wpseo_opengraph_image":"","_yoast_wpseo_opengraph_image_id":0,"_yoast_wpseo_twitter_title":"","_yoast_wpseo_twitter_description":"","_yoast_wpseo_twitter_image":"","_yoast_wpseo_twitter_image_id":0,"_yoast_wpseo_primary_category":24,"_extra_hide_author_box":"","_extra_featured_post":"","_partner_post_id":0,"footnotes":""},"categories":[24],"tags":[],"class_list":["post-46937","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","et-has-post-format-content","et_post_format-et-post-format-standard"],"yoast_head":"\n