Webb Fontaine Group

Archive for January, 2016

TEST FR à venir – GCC Customs Union settlement of duties and taxes to reach the Cloud

The Kingdom of Bahrain is a member of a Customs Union with other five countries in the region. These countries are Saudi Arabia, Kuwait, Qatar, United Arab Emirates and Oman. This Union is called the Gulf Cooperation Council (GCC). As part of this Customs Union each country is responsible for collection of customs duty upon entry of foreign-origin goods into its domain. This is called the First Entry Point. If these goods are subsequently dispatched (wholly or partially) to another GCC country (Destination Country) for consumption then it is the responsibility of the first GCC country through its national Customs administration to remit the duty to the destination GCC country. The remitted duty is proportional to the value of re-exported goods.

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