Home » today » News » Fantastic news relating to taxes on overseas goods in obligation-totally free shops following approving the settlement in the ports of the Kingdom

Fantastic news relating to taxes on overseas goods in obligation-totally free shops following approving the settlement in the ports of the Kingdom

Al-Marsad newspaper: Whilst the Council of Ministers has ultimately accredited the establishment of free markets in land, sea and air ports, economists have confirmed that the totally free industry is about the exhibit of products intended for show or sale with the suspension of payment of customs duties and taxes.

Economist Hani Al-Jafri described, according to “Okaz”, that no cost markets can be found in customs ports for arrival or departure, be they air, sea or land, and markets can be situated on airplanes or ships. cruise.

Al-Jafri indicated that the entire body in charge of supervising these markets is the Ministry of Finance represented by the Zakat Tax and Customs Authority, according to the previously introduced draft of cost-free markets.

He stressed that the free market will assistance domestic industries, as a unique share of the merchandise provided in the pavilions are predicted to be of Saudi origin.

Relating to the system of entry of merchandise, Al-Jafri discussed that it is authorized to introduce in totally free marketplace parts all overseas products of any type or origin, as very well as to consider them out of the place or into other free of charge industry parts with out staying matter to taxes and customs service fees.

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