UAE: More Products To Be Taxed From December 1st

The Ministry of Finance in the UAE announced its decisions to expand the scope of excise tax starting December 1, 2019.

This move includes Cabinet Decision No. 52 of 2019 on excise goods, excise tax rates, the methods to calculate excise prices, amendment of Cabinet Resolution No. 38 of 2017 on excise goods, excise tax rates, the formula to calculate excise prices, as well as Cabinet Decision No. 55 of 2019 on excise price of tobacco products, a Wam news agency report said.

READ  UAE Expands Taxes To Target Unhealthy Products Next Year

Saeed Rashid Al Yateem, assistant under-secretary of resource and budget sector, noted that these decisions are based on the UAE’s efforts to reduce harmful consumer practices.

In addition to the taxation of tobacco products, energy drinks and soft drinks, excise tax has been expanded to include e-cigarettes and the liquids used with them, as well as beverages with added sugar.

The Ministry of Finance continues to assess its legislative system and is committed to strengthening the nation’s tax laws, thereby enhancing the country’s standing in various global competitiveness indicators, it said.

READ  UAE Expands Taxes To Target Unhealthy Products Next Year

 

Leave a Reply

avatar
  Subscribe  
Notify of