The Customs Authority announces lower customs release costs
Analysts expect no immediate effect on consumer prices: current stock covers market needs at least to the end of next quarter.
The meeting closed by forming a joint Chamber–ministry committee, meeting weekly to follow implementation and reporting monthly to the federation’s board.
He added that stock turnover improved by close to 12% over the last quarter, but that the cost of finance remains the first obstacle to expansion in the governorates.
What it means for traders
A number of importers argue that the proposed timetable needs a transition period of at least six months, so that small businesses can adapt their accounting systems.
Verdict
The fair, reviewed
Well organised, and busier than expected.
- Organisation 8.8
- Turnout 8.0
What we liked
- A wide turnout
What we didn’t
- Cramped floor space
Every day of delay in customs release costs an importer more than any tax cut saves him.
The Chamber had earlier launched a trader training programme on e-invoicing, taken up by more than 2,100 participants across six governorates.
Where the divisions stand
- fully digital shop licensing among next quarter’s priorities
- A review of the timetable with the trade divisions
- A monthly report to the federation’s board
Chamber figures put the number of registered businesses at 41,000, up by 3,400 on last year, most of them in retail and logistics.
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