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Tax waiver for industrial imports in Abu Dhabi
There will be an immediate exemption of imported industrial inputs from customs duties in Abu Dhabi.
abu dhabi - These include raw material, machinery, equipment and spare parts
The move is implemented as part of the stimulus that Added provides to the industry sector in Abu Dhabi. It was announced during a media briefing in Abu Dhabi on Wednesday. Ali Alhumami, director of industrial organisation department at the Industrial Development Bureau, and a number of officials from the General Administration of Abu Dhabi Customs were present.
Ali Alhumami said that immediate exemption of imported industrial inputs from customs duties relies upon the yearly balance system of beneficiaries via direct e-connection between the systems used by the General Administration of Customs in Abu Dhabi and Industrial Development Bureau.
He said the volume of transactions pertaining to exempting industrial inputs from customs duties received by Industrial Development Bureau in 2017 amounted to 26,000 transactions with a total value of Dh1.5 billion.
- business@khaleejtimes.com
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