UAE Excise Tax On E-cigarettes, Sugary Drinks To Start On December 1

UAE's Federal Tax Authority called on producers and importers to register for the excise tax system at the earliest to avoid late registration fines

UAE excise tax on e-cigarettes, sugary drinks to start on December 1
The UAE initially introduced 50-100 percent excise tax on harmful goods such as soft and energy drinks and tobacco in October 2017 in a bid to improve public health.

The excise tax on electronic smoking devices and sweetened beverages will be effective as of December 1, 2019, according to the Federal Tax Authority (FTA).

The authority called on producers and importers of the products to register for the excise tax system at the earliest to avoid late registration fines.

The UAE initially introduced 50-100 percent excise tax on harmful goods such as soft and energy drinks and tobacco in October 2017 in a bid to improve public health and cover the costs of public services through the newfound government revenue.

At the time, over 1,700 items were subjected to the excise tax, with 60 percent being soft drinks, 26 per cent being tobacco products and 14 per cent being energy drinks.

For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
RECENT NEWS

BNY Mellon Lands A Big Ally For Expansion In Saudi Arabia

NCB Capital is the kingdom's biggest asset manager and investment bank Read more

Coronavirus, Low Oil Prices Set To Speed Up Gulf Bank Mergers

Moody's Investors Service says financial concerns in the region will play a larger role in encouraging deals Read more

Abu Dhabi Fund Buys $750m Stake In Retail Arm Of Indian Giant Reliance

Subsidiary of the Abu Dhabi Investment Authority will buy a 1.2% stake in Reliance Retail Ventures Read more

How The Lebanese Private Sector Is Coping In The Eye Of A Storm

Businesses extremely pessimistic about future as layoffs continue and wages plummet Read more

Lebanese Pound: The Most Undervalued Currency In The World

As political and economy chaos ensues, leading analyst says exchange rate needs sorting 'as soon as possible' Read more

How Coronavirus Is Changing Banking For The Better

Redefining finance for good: Virtual CXO Forum to take place on October 7 Read more