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If health issues are not strong enough to make you stop smoking, the UAE’s Federal Tax Authority has established a new reason to quit the habit.
FTA said it will implement a selective tax of 100 percent on tobacco products and energy beverages starting January 1, 2018. Carbonated drinks, meanwhile, will be taxed 50 percent.
“The tax procedures law is in the final phase, and will soon be issued and published. The VAT law is being debated by the technical legislative committee in preparation for submitting it to the Cabinet for approval, while the selective tax draft law will be soon discussed by the committee,” His Highness Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and Minister of Finance, said during an FTA meeting.
Sheikh Hamdan said the UAE will impose value added tax on important goods and services in an effort to achieve economic diversification ahead of the post-oil era.
The new VAT rule states that international transportation, commodities, and exports, health and education services, as well as gold imported for investment purposes are exempted from taxes.
Residential buildings for sale or lease will also be exempted during the first three years.
Gulf News said business establishments with the minimum annual income of Dh375,000 are mandated to register on the VAT system.
Photo credit: GIPHY
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We listed over 1,000,000 jobs from United Arab Emirates monthly.
[/et_pb_text][et_pb_search admin_label=”Search” background_layout=”light” text_orientation=”right” exclude_pages=”off” exclude_posts=”off” include_categories=”2,3,9,10,11,4254,12,1,13,4259″ hide_button=”on” placeholder=”ei. Nurses, Engineer, Accountant, Sales…” field_bg=”#ffffff” placeholder_color=”#7c7c7c” module_class=”jobs-search” input_font_size=”14px” input_letter_spacing=”0px” input_line_height=”1em” button_font_size=”14px” button_letter_spacing=”0px” button_line_height=”1em” custom_css_input_field=”height: 50px !important;||max-width: 436px;||text-align: left !important;||float: left;||margin-left: 20px;” disabled=”off” /][/et_pb_column][et_pb_column type=”1_3″][et_pb_image admin_label=”Image” src=”https://filipinotimes.net/wp-content/uploads/2017/04/tft-rent.png” show_in_lightbox=”off” url_new_window=”off” use_overlay=”off” animation=”off” sticky=”on” align=”left” max_width=”164px” force_fullwidth=”off” always_center_on_mobile=”on” use_border_color=”off” border_color=”#ffffff” border_width=”1px” border_style=”solid” custom_css_main_element=”float: left;||position: relative;||top: 37px;||left: 20px;” disabled=”off” /][et_pb_text admin_label=”Text” background_layout=”light” text_orientation=”left” max_width=”280px” max_width_last_edited=”off|desktop” header_font_size=”28px” text_font_size=”20px” use_border_color=”off” border_style=”solid” custom_padding=”0px|||” custom_css_main_element=”margin-top: 123px;||font-family: Georgia;||margin-left: 20px;” disabled=”off”] Accomodation option available in the market. [/et_pb_text][et_pb_search admin_label=”Search” background_layout=”light” text_orientation=”right” exclude_pages=”off” exclude_posts=”off” include_categories=”2,3,9,10,11,4254,12,1,13,4259″ hide_button=”on” placeholder=”ei. 1 Bedroom Al Rigga, Flat, Bedspace…” field_bg=”#ffffff” placeholder_color=”#7c7c7c” module_class=”jobs-search” input_font_size=”14px” input_letter_spacing=”0px” input_line_height=”1em” button_font_size=”14px” button_letter_spacing=”0px” button_line_height=”1em” custom_css_input_field=”height: 50px !important;||max-width: 436px;||text-align: left !important;||float: left;||margin-left: 20px;||position: relative;||top:-30px;” disabled=”off” /][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section bb_built=”1″ admin_label=”Section” transparent_background=”off” background_color=”#1a1c1d” allow_player_pause=”off” inner_shadow=”off” parallax=”off” parallax_method=”off” custom_padding=”0px||0px|” make_fullwidth=”off” use_custom_width=”off” width_unit=”on” make_equal=”off” use_custom_gutter=”off” fullwidth=”off” specialty=”off” disabled=”on” disabled_on=”on|on|on”][et_pb_row admin_label=”Row” make_fullwidth=”off” use_custom_width=”on” width_unit=”on” custom_width_px=”1200px” custom_width_percent=”80%” use_custom_gutter=”off” gutter_width=”3″ custom_padding=”50px||50px|” allow_player_pause=”off” parallax=”off” parallax_method=”off” make_equal=”off” parallax_1=”off” parallax_method_1=”off” parallax_2=”off” parallax_method_2=”off” parallax_3=”off” parallax_method_3=”on” parallax_4=”off” parallax_method_4=”on” disabled=”off”][et_pb_column type=”1_2″][et_pb_text admin_label=”Text” background_layout=”light” text_orientation=”left” module_class=”slim-optin-text” use_border_color=”off” border_style=”solid” disabled=”off” border_color=”#ffffff” custom_css_main_element=”line-height: 1 !important;”][su_column size=”1/4″ class=”sub-optin”]Latest News[/su_column][su_column size=”3/4″ class=”sub-optin-2″]Subscribe to our free weekly newsletter and never miss a thing. No spam. Only hand-picked trending news.[/su_column]
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THE FILIPINO TIMES provides the information that the large Filipino community in the region wants and needs.
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