Saudi Arabia

Saudi: Non-Citizens Now Allowed to Participate in ZATCA Auctions

The Zakat, Tax and Customs Authority (ZATCA) has updated the rules for public auctions to better organize auction procedures at all its land, sea, and air customs points.

The updates include improvements to the procedures for announcing public auctions through official channels and making all auction details available on the authority’s website. This ensures greater transparency and allows bidders to participate according to clear and defined policies, saving time and effort for all stakeholders.

Additionally, the updates allow both individuals and legal entities, including citizens and non-citizens, to participate in auctions. The updates also clarify the requirements and procedures related to auctions to enhance transparency and increase bidder compliance.

The aim is to provide a better experience for bidders by facilitating the sale of confiscated, abandoned, forfeited, or seized goods.

These updates are part of ZATCA’s ongoing efforts to develop its zakat, tax, and customs procedures to maximize the benefits of its services and to continuously apply best practices for all beneficiaries.

The authority invites interested parties to review the updated auction rules by visiting its website.

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Source
Saudi Gazette

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