Saudi Arabia increases customs duty rates on imports

News Image

By MG News | June 04, 2020 at 06:30 PM GMT+05:00

0:00

June 4, 2020 (MLN): Saudi Arabia has announced an increase in various customs duty rates applicable to a wide range of highly consumed products which would be applicable from June 10, 2020 onwards.

The products that will see the upsurge in custom fees include, food products, mineral and chemical products, plastic, rubber, leather goods, textile, clothing and footwear, building materials,  metal prodcuts (e.g. steel, iron, nickel, copper, aluminium), ceramic, cement, electrical equipment, toys, furniture, machinery equipments, motor vehicles and spare parts and various other manufactured goods.

According to the revised Harmoninzed Tariff Schedule (HTS), the import duty on Mineral products, Textile, Rubber and Plastic items, Bulding materials, Machinery, Motor vehicles and Spare parts will rise upto 15% by June 10 from the current level of 5%.

The duty on Food and beverages (such as live animals, meats, seafood, milk products, yoghurts, vegetables, fruits, sugars, rice, sweets, juices, sauces and honey) ane Metal Products (such as iron or non-alloy steel, stainless steel, alloy steel, wire, pipes and tubes, steel bolts, and articles of copper) will rise upto 25% and 20% respectively, from the current level of 5%.

Whereas, the duty on Chemical Products (such as acids, sulphates, oxides, methane, magnesium and chlorides) will increase from 5% to 5.5 to 6.5%.

As the increase in customs duty rates are significant, this will affect all imports into Saudi Arabia.

Copyright Mettis Link News

 

Related News

Name Price/Vol %Chg/NChg
KSE100 133,538.13
11.85M
0.13%
167.98
ALLSHR 83,343.07
45.91M
0.32%
261.92
KSE30 40,728.01
3.54M
0.06%
22.71
KMI30 192,646.77
4.29M
0.03%
66.10
KMIALLSHR 55,939.83
16.73M
0.19%
104.12
BKTi 36,328.16
0.29M
0.03%
10.99
OGTi 28,521.58
0.54M
-0.07%
-21.38
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 108,120.00 108,880.00
107,680.00
-335.00
-0.31%
BRENT CRUDE 69.30 69.50
69.03
-0.28
-0.40%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
2.90
3.07%
ROTTERDAM COAL MONTHLY 106.00 106.75
106.00
0.25
0.24%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 67.61 67.97
67.40
-0.32
-0.47%
SUGAR #11 WORLD 16.25 16.46
16.07
-0.13
-0.79%

Chart of the Day


Latest News
July 08, 2025 at 09:31 AM GMT+05:00

NBP issues foreign exchange rates


July 08, 2025 at 09:25 AM GMT+05:00

Asia markets waver amid Trump’s new tariff threats


July 08, 2025 at 06:13 AM GMT+05:00

MG Morning Breeze: Updates to Skim before Market


July 07, 2025 at 05:30 PM GMT+05:00

CCP cracks down on anti-competitive practices in FY25



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg