Saudi Customs and the General Authority of Zakat and Tax (GAZT) signed a memorandum of cooperation this Monday 03-02-1439 AH to boost cooperation and coordination in shares tasks. The memorandum was signed at the headquarters of Saudi Customs in the presence of HE Mr. Ahmad A. Al Hakbani, General Director of Saudi Customs and HE Suhail M. Abanmi, Governor of the GAZT.
This memorandum underlines both parties' drive towards integration in order to organize shared tasks, an important step in light of new additional shared tasks requiring further cooperation and coordination.
According to the memorandum, a joint committee will be created for coordination between both parties whose role will be to review the VAT implementing regulations of VAT and excise tax and make necessary amendments to align with the common GCC customs law and implementing regulations of GCC countries to avoid inconsistencies between articles of the law and the applied procedures.
The memorandum also covers shared work and tasks that require coordination through a framework regulating the areas of cooperation, exchange of information and data and training of human resources on collection procedures in import cases according to the business requirement documents approved by the two parties. The memorandum also contains an agreement to hold workshops for customs agents to raise awareness and qualify them to comply with the laws, regulations and instructions and any revocation, amendment or addition introduced to them.
According to the memorandum, the relevant departments at the two parties will cooperate to provide technical, legal and procedural support.