This issue is filled with great insights and expert commentary on areas that are relevant to the legal landscape and highlight how the business community is embracing technology, media and telecommunications. There are various topics covered, from new ways of working and digital transformation in the finance sector to data protection regulatory updates and guidance. We also have a series of articles that focus on e-commerce across a number of jurisdictions.
You will also find insights from our lawyers around real estate analytics, tech trends, and data centres.
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The KSA Zakat, Tax and Customs Authority has on 2 July 2021 issued an immediately effective new decision No. 3852 (the “Decision”) setting new customs regulations. The Decision relates to GCC countries only.
Goods that moved from free zones and duty-free markets to the customs department shall be treated as foreign goods, even if they include local raw materials or items for which customs duties were paid before entering the free zones and duty-free markets.
Verification of Origin
Rules and conditions of origin verification shall be issued under a resolution of the Governor of Zakat, Tax and Customs Authority.
Non-National Origin Commodities
A commodity shall be a non-national origin one, if any of its components is produced or manufactured in the Zionist Entity or any of the neutral elements set forth in Article (9) of the capital producing it is owned, in whole or in part, by Israeli companies or companies listed in the Arab Boycott of Israel.
There was no explanatory memo issued with the Decision. The scope of the Decision implementation including whether it will apply to all other GCC countries equally or if some countries will be exempted is still yet to be inquired.
Our Transport & Logistics sector team are available to advise on further details and product specific queries based on the Decision.