Arab News, Saturday, Jul 17, 2021 | Zul Hijjah 7, 1442
Saudi Arabia to expand duty free outlets beyond airports
Saudi Arabia intends to expand
its duty-free stores beyond airports to land and sea ports, and to ships and
planes, the Zakat, Tax and Customs Authority said.
A plan to update the rules for duty-free shops
will be on the Kingdom’s Public Consultation Platform (Istitlaa) until August
12, 2021. Previously, duty-free outlets were limited to departure halls at
international airports, the Authority said.
The draft rules also include canceling the
requirement that store owners provide a SR200,000 ($53,323) bank guarantee, but
they will need to hold third-party insurance policies for goods in warehouses
and halls for potential risks such as fire.
Products manufactured in the Kingdom will receive
a 20 percent subsidy, according to the draft rules. Sales of all products will
be limited to the quantities allowed for each passenger as defined by the