Business Regulations Brief
ZATCA Introduces New Bonded Zones Regulations in Saudi Arabia
The Zakat, Tax, and Customs Authority (ZATCA) has announced the issuance of new Bonded Zones Rules in Saudi Arabia. These regulations are designed to establish a clear statutory framework for the licensing, operation, and management of bonded zones within the Kingdom. The aim is to streamline and enhance the efficiency of logistic operations by setting out specific obligations for operators and detailing ZATCA’s supervisory and control functions over these zones.
The rules provide a comprehensive guide on the procedures for obtaining licenses for bonded zones, the conditions required for application, and the standards that operators must meet. Furthermore, they outline the regulatory obligations of operators and the extent of ZATCA’s authority in enforcing compliance and ensuring the smooth functioning of activities within these zones.
Bonded zones serve as crucial logistics hubs that enable importers, exporters, and logistic companies to store goods without the immediate imposition of customs duties and taxes. This suspension remains in effect until goods are either released into the local market or re-exported. Such areas are pivotal in enhancing liquidity management, supporting the efficient movement of goods, and facilitating the import and export processes. This regulatory framework is expected to significantly contribute to the Kingdom’s vision of becoming a global logistics center by improving the efficiency of clearance, storage, and re-exportation processes.
The Bonded Zones Rules are accessible through ZATCA's official website, providing stakeholders with essential information on compliance and operational guidelines. These regulations are a step towards reinforcing Saudi Arabia’s logistics infrastructure and enhancing its trade capabilities, aligning with the Kingdom’s strategic goal of establishing itself as a leading global logistics hub.