ABU DHABI: The new ATA Carnet system to be implemented on Jan. 1, which would help ease the movement of goods between Saudi Arabia and other member states, a senior official from the Council of Saudi Chambers (CSC) told Saudi businessmen.
Khalid Al-Otaibi, secretary general of the CSC, made this comment during a workshop on the system at the organization’s headquarters in the capital. Local customs officials and businesspeople from the Dubai Chamber of Commerce and Industry also attended the event.
Al-Otaibi said it is a temporary admission system that allows goods to be brought more efficiently into the Kingdom. The ATA Carnet is an international customs document that allows the temporary importation of commercial samples, professional equipment or goods going to trade fairs or exhibitions, he said.
It permits tax-free and duty-free temporary export and import of goods for up to one year, eliminating the need to purchase temporary import bonds. As long as the goods are re-exported within the allotted timeframe, no duties or taxes are due. Failure to re-export all or some of the goods listed on the Carnet results in the payment of applicable duties and taxes. Failure to remit those duties results in a claim from the foreign customs service to the importer’s home country.
The Riyadh Chapter of the International Chamber of Commerce (ICC) signed a memorandum of understanding with Saudi Customs in May 2011 to implement the system. Currently more than 70 countries participate in the scheme.
