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New UAE excise tax effective beginning October

New UAE excise tax effective beginning October
The tax will be imposed on tobacco products, as well as energy and soft drinks

Abu Dhabi - Mubasher: The newly imposed excise tax law will come into effect on 1 October 2017, the UAE Ministry of Finance told Emirates News Agency (WAM) on Tuesday.

"The Tax shall impact all excise goods consumed inside the country, including all the country's free zones and ports," Younis Haji Al Khouri, the undersecretary of the Ministry of Finance (MoF) said in a statement to WAM.

"Commodities carried away out of the country by outbound travelers shall not be impacted by the tax, while those carried into the country shall be subject to the new law," he added.

On Monday, the Emirati President Sheikh Khalifa bin Zayed Al Nahyan issued a federal decree-law on excise tax, which will be imposed on selected products, provided that the tax rates do not exceed 200% of the excise price.

Back in December 2016, the Supreme Council of the Gulf Cooperation Council (GCC) issued a resolution on excise goods list, which contains tobacco products, energy drinks and certain soft drinks.