Saudi Arabia Issues Updated Rules of Origin
Saudi Arabia recently issued rules for determining the origin of imported goods, KPMG said July 6. The rules, which took effect July 2, “reiterate” the Gulf Cooperation Council origin conditions and also require a minimum 25% nationalization threshold “with respect”…
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to the entity that manufactures the GCC-origin goods, KPMG said. Saudi Arabia also will treat goods manufactured by free-zone businesses as foreign goods even if those goods include raw materials of GCC origin. KPMG said the rules “appear to exclude any duty-exemption benefit to free zone businesses.” The rules also include more information about the definition for “direct consignment.”