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July 17, 2026
Article 28 outlines the mechanism for paying Value Added Tax (VAT) on imported goods. It mandates the General Customs Department to collect the tax due on imports according to its established procedures, subsequently transferring the collected funds to a designated account agreed upon by the Ministry of Finance and the Authority. The article provides a key provision allowing the Authority to grant a Taxable Person a deferral on the payment of VAT for goods imported for their Economic Activity. This deferral is subject to terms specified in the Regulations, and the Taxable Person must declare the deferred amount in their Tax Return.
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