Saudi Zakat, Tax, and Customs Authority has established new regulations for the operation of Bonded Zones

New guidelines for the management of Bonded Zones inside the Kingdom have been developed by the Saudi Zakat, Tax, and Customs Authority. The purpose of these rules is to establish criteria for activities carried out within Bonded Zones and to explain the legal framework for licencing them. The laws also make clear the Authority's regulatory and supervisory authority over these zones, as well as the obligations of operators.

Important features of the rules include the criteria for licence applications, the precise standards, obligations, and requirements for operating inside these zones, and the thorough processes for licencing and activities related to Bonded Zones. The obligations of operators and the Authority are also covered under the regulations.

In bonded zones, importers, exporters, and logistics firms can keep goods and carry out logistical operations with suspended customs duties and taxes until the items are either reexported or introduced to the local market. Bonded zones are specialised customs regions.

Through flexible financial liquidity management, a regulatory environment that supports commercial growth, streamlined clearance, storage, and re-export procedures, and streamlined import and export procedures for shipments within the Bonded Zones, this arrangement plays a critical role in improving trade efficiency. These actions are a component of Saudi Arabia's strategic ambition to become a hub for global logistics.