Over 5,000 transactions for imports cleared through Bayan system

Oman Saturday 23/January/2021 12:54 PM
By: Times News Service
Over 5,000 transactions for imports cleared through Bayan system

Muscat: The number of transactions of clearance for the imports of industrial plants that were cleared through Bayan system during the period from January to the end of December 2020 reached 5,171 transactions via the Form B to obtain exemption of imports' duties, compared to 5,586 transactions in the same period of 2019, according to the Ministry of Commerce, Industry and Investment Promotion (MoCIIP).  

Engineer Mohammad Al Mahrouqi, head of the customs exemptions department, in the Directorate General of Industry at MoCIIP, stated that the number of customs exemption application during 2020 reached 662 exemption application for equipment, spare parts and raw materials imports, compared to 560 exemptions obtained in 2019, while 17 applications of income tax exemption for industrial establishments were studied in 2020.

He emphasized that the investors’ interest in utilizing electronic services provided by MoCIIP’s online portal "Invest Easy" and "Bayan" system of Royal Oman Police has contributed to speeding up the completion of transactions, facilitating and easing the movement of outgoing and incoming goods to and from the Sultanate and reducing the cost of import and export operations.

He pointed out that industrial establishments which are interested in custom exemption should apply for this facility in advance through the Bayan system of the Directorate General of Customs at ROP before importing their imports, while the application and its attachments will be studied in MoCIIP. The application will be referred to the Tax Authority, where the concerned committee for studying requests for exemption of industry inputs from customs tax will review the application and recommend exempting the industrial establishment from customs duties/tax.