Taxation Provisions on Imports of Consigned Goods & the Simplification of Customs Registration

Taxation Provisions on Imports of Consigned Goods & the Simplification of Customs Registration

Newsletter - Taxation Provisions on Imports of Consigned Goods & the Simplification of Customs Registration

DDTC Newsletter Vol.03 | No.02

25 January 2020

Total Downloads 802

This edition reviews some provisions related to the exemption of import duties for taxable goods, including for oil-gas and geothermal sectors and for scientific research and development. Under the new regulation, the government has also lowered the maximum threshold of the customs value of imported consigned goods for personal use that are exempt from import duties, from USD75 to USD3. Moreover, there is a new regulation concerning the customs clearance of completely built up (CBU) motor vehicles imports. In addition, new regulations concerning the taxation aspects for transit and transhipment means of transport and the simplification of customs registration provisions have been issued

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Newsletter - Taxation Provisions on Imports of Consigned Goods & the Simplification of Customs Registration

DDTC Newsletter Vol.03 | No.02

25 January 2020

Total Downloads 802

This edition reviews some provisions related to the exemption of import duties for taxable goods, including for oil-gas and geothermal sectors and for scientific research and development. Under the new regulation, the government has also lowered the maximum threshold of the customs value of imported consigned goods for personal use that are exempt from import duties, from USD75 to USD3. Moreover, there is a new regulation concerning the customs clearance of completely built up (CBU) motor vehicles imports. In addition, new regulations concerning the taxation aspects for transit and transhipment means of transport and the simplification of customs registration provisions have been issued

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