U.A.E. Excise Tax Starts in October in Drive to Boost Revenue - Bloomberg

U.A.E. Excise Tax Starts in October in Drive to Boost Revenue - Bloomberg:

"The United Arab Emirates will start imposing a tax on selected goods starting Oct. 1 as Gulf Arab nations seek to deepen government revenue to counter the drop in oil prices. A levy on designated goods -- tobacco, energy drinks and soft drinks -- will include those sold at airports and free zones, Younis Al Khoori, undersecretary at Ministry of Finance, told the state-run WAM news agency. Products purchased at airports by travelers taking the goods abroad will be exempt, he said. The move is one of the measures taken by the six-member Gulf Cooperation Council work to bolster non-oil revenue and is a milestone for a region that has attracted companies and workers largely through the promise of tax-free living. The bloc is also moving to implement value-added taxation though governments say they have no plans to introduce income tax."



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