Zakat, Tax, and Customs Authority (ZATCA), a government agency responsible for enforcing tax, customs, and zakat rule, has released important an advisory regarding customs regulations for people carrying cash, gold, and valuable items into Saudi Arabia.
According to ZATCA, people carrying SR 60,000 ($16,000) or more in cash or valuable metals are required to declare them in advance.
It also stressed that people arriving or departing must electronically declare currencies or negotiable instruments such as checks, deposit certificates, etc.
Travelers can declare their assets via the ZATCA app available on both Android and iOS devices or ZATCA’s website. It can also be done at declaration offices at customs ports when arriving or exiting.
Note here that the declaration is a mandatory process for all travelers carrying the above-mentioned sum or more, or something equivalent in other currencies. This rule also applies to travelers carrying negotiable tools, gold, precious metals or stones, or valuable jewelry, which is worth the same amount or more.
In addition, ZATCA also emphasized that legal proof of the declared items must also be submitted in order to avoid any inconvenience.
Penalty for Non-Declaration
If someone does not declare or provides wrong declaration information, they can be fined around 25% of the value of confiscated items in case of the first violation. However, in repeat violations, 50% of the item’s value must be paid in accordance with Article 23/6 of the Regulations for the Anti-Money Laundering Law.
If there is no evidence of a connection between the confiscation of assets and a crime or money laundering offense, only the above-mentioned amount will be seized. However, if the link between the assets and criminal activity is established, the entire amount will be taken, and the suspect will be referred to Public Prosecution in Saudi Arabia.
