Rise in import exemption permits passed through Bayan system

By ONA
January 20, 2018
Muscat - 

The number of industrial transactions cleared through Bayan system in 2017 reached 3,316 permits for the GCC countries to obtain exemptions from the import of industrial establishments compared to 3,165 permits in 2016.

The number of applications for exemption of customs during the past year amounted to 254 for import of equipment, spare parts and primary raw materials compared to 206 applications in 2016. For the exemption of customs, 132 decisions were issued by the Ministry of Finance in 2017, compared to 53 decisions in 2016.

Eng Mohammed bin Said al Mahrouqi, head of Exemptions Section at the Directorate General of Industry in the Ministry of Commerce and Industry (MoCI), said that the increase in exemption permits and applications for customs exemption is attributed to investors’ choice of electronic services provided by the Invest Easy portal.

He added that MoCI seeks to facilitate the flow of goods exported to and from the sultanate, reduce the cost of import and export operations, and strengthen the partnership between customs and various sectors of the commercial community.

The ministry also encourages domestic and foreign investment to attract capital.