In Support of Investment in the Postal Services Sector.. Launch of the Deferred Payment Initiative for Customs and Tax Fees on Imported Shipments for 21 Days

The Communications and Information Technology Commission announced today, in cooperation with the General Commission for Zakat and Income and the General Commission for Customs, an initiative for the deferred payment of customs and tax fees due on shipments imported through licensed international parcel transport companies, for a period of 21 days from the date of customs release. This comes within the framework of cooperation among all relevant entities to empower service-providing companies and encourage further investment in the postal and logistics services sector in the Kingdom.

This initiative embodies the cooperation of the relevant entities in taking all measures that serve the interest of the sector, and in supporting the companies providing the service by allowing deferred payment of these fees due on imported shipments.

This initiative also aims to facilitate the sector's regulatory procedures, in order to enhance investment opportunities in the postal and logistics services sector in the Kingdom, and encourage new companies to enter the market, in fulfilment of Saudi Vision 2030's goal of making the Kingdom a leading global logistics hub.

This initiative comes as a result of studying the current state of the postal and logistics services market in the Kingdom, measuring its needs, monitoring the challenges facing service-providing companies, and offering solutions that would help overcome these difficulties, thereby contributing to enhancing companies' cash flows, and consequently improving the management of their operations and the quality of the service provided to the end beneficiary.

The three entities involved in this initiative also confirmed that it applies to all postal and logistics companies licensed by the Communications and Information Technology Commission, and that the collection of deferred customs duties and value-added tax will be in accordance with the collection procedures officially followed by the General Commission for Customs.