Looking at how the world is changing in terms of trade behavior and international cooperation, it becomes clear that customs is shifting from a purely operational topic towards a strategic component of managing global operations. At the same time, local governments have expanded and fine-tuned their trade legislation, requiring companies to also increase scrutiny of their own import, export and indirect tax strategies to ensure that they comply with increasingly complex local laws. These matters require close attention, otherwise businesses could incur unnecessary indirect costs.
ZATCA has recently published the long-awaited “Guideline to Procedures to Issue Origin Reports”, clarifying the necessary steps for Chartered Accountants and GCC producers looking to issue and obtain an Origin Report, respectively, in accordance with the KSA National Rules of Origin.
An Origin Report issued in Arabic by a Chartered Accountant is one of the mandatory requirements to benefit from the customs duty exemption on GCC manufactured goods as per the Rules and Conditions for Verification of Proof of Origin published on 6 August 2021. This comes as a further development to the Ministerial Decree dated 22/11/1442 (02/07/2021) approving the new KSA National Rules of Origin.
Chadi Abou Chakra
Middle East Indirect Tax Network Leader, PwC Middle East
Tel: +966 11 211 0400 Ext: 1858
Carlos Garcia
Partner, Middle East Customs & International Trade, PwC Middle East
Tel: +971 56 682 0642