Saudi Arabia Establishes Operational Guidelines for Bonded Zones
Saudi Arabia has introduced new regulations for Bonded Zones set by the Saudi Zakat, Tax, and Customs Authority. These regulations will guide licensing, operational standards, and the responsibilities of both operators and the authority overseeing these specific customs areas. They outline the necessary procedures for obtaining licenses, as well as operating conditions and obligations.
Bonded Zones are areas where businesses can store and handle goods with deferred duties and taxes, improving trade efficiency. They offer financial flexibility, support commercial growth, and simplify customs processes, which is essential to Saudi Arabia's aim of becoming a major logistics hub.
