In the name of God, the Most Gracious, the Most Merciful
No. 35/2/5/1008
With the help of God Almighty,
We, Saud bin Abdulaziz,
King of the Kingdom of Saudi Arabia,
Desiring to regulate the trade of automobiles and their accessories, and to protect consumers from the greed of certain importers,
We hereby decree the following:
1.
The profit margin permitted for automobile importers shall not exceed fifteen percent (15%) above the basic value and associated expenses.
2.
Importers must submit accurate and truthful statements regarding the types and prices of the vehicles they import, so that they may be reviewed by the competent government authority.
3.
Importers must provide all necessary automobile accessories and make them available to buyers.
The value of these imported accessories must not be less than twenty percent (20%) of the value of the vehicles.
A reasonable and fair profit margin—subject to regulation—shall be determined for them by the competent authority.
4.
Automobile importers shall not be permitted to import vehicles except under these conditions.
5.
This decree applies to all existing vehicles and accessories not yet sold prior to its issuance.
6.
The Minister of Finance and National Economy shall organize and implement this decree.
7.
The Prime Minister shall enforce this decree by publishing it and communicating it to all concerned parties.