Tax Alert

Amendment to Customs Tariffs

By:

Adel Daglas

12 Jun 2022Less than a minute

The Zakat, Tax and Customs Authority (“ZATCA”), have announced that effective from 12 June, 2022, the customs tariffs of 99 goods have been adjusted in order to protect and encourage national industries.

Contents

The full list of items can be found here.

The decision to adjust the tariffs, applicable only on imports, is essentially to increase the tariffs on foreign goods so as to encourage the sale of local industrial and agricultural goods.

This decision is aligned with the limits agreed by Saudi Arabia with the World Trade Organization (“WTO”). This type of decision is an expected step by the Saudi Tax Authority to assist in boosting local production and trade.

To discuss the alert and how this may impact your tax position, contact Adel Daglas.