Over 1,000 exemptions on imports for GCC industrial facilities in Q3
Muscat - The Directorate General for Industry gave exemptions on imports by industrial facilities for GCC Model (B) to 1,065 firms through the Bayan system in Q3 of 2017. The number of customs exemption requests stood at 75, for import of equipment, spare parts and primary raw materials.
Forty-one ministerial decisions were issued for custom exemption directly by the Ministry of Finance.
The ministry pointed out that having a commercial register is the main condition to get customs exemption, according to Nezam Act for the unified industrial organisation for GCC, issued by the Royal Decree 61/2008, its executive regulation, and the two Ministerial Decision No 56 and 66 in 2009 issued by the Ministry of Finance, stated a press release.
The Ministry of Commerce and Industry (MoCI) assured that Bayan system helps in facilitating procedures, decreasing transaction time, as it is possible for the industrial facilities to submit their claims online. Moreover, the company can follow up with its request and the direction of the transaction, along with any additional notes. This system conforms the names of material, equipment, and the systemic numbers that used to cause many problems.
MoCI provides services electronically to facilitate and increase the flow of goods coming into or leaving the sultanate.
It also helps decrease the cost of export and import processes, promote partnership between the Directorate General of Customs in the ROP and various segments of commercial society, encourage local and foreign investments and attract capital.
MoCI also promotes the sultanate’s position globally in border trade according to international standards and indicators, unite the procedures, save effort, time and money for businesses and traders, increase customs income, stop smuggling, stop tax and fee evasion, stop commercial fraud, and provide statistics about world trade which will be involved in setting economic and developmental plans and feasibility studies.
The number of customs exemption requests stood at 75, for import of equipment, spare parts and primary raw materials