- Entrepreneurs no longer need to submit a “no objection or clearance certificate” for import duties exemption
- The change aims to improve efficiency and speed of services
- Exemptions apply to business assets, raw materials, auxiliary materials, and packaging materials
- Entrepreneurs can now submit exemption requests without the “clearance certificate”
- Tax obligations still apply and the Tax Authority will review the entrepreneur’s tax status
- Consider options for importing goods with an exemption from import duties
Source: hbnlawtax.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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