The beachfront resort in Ras Al Khaimah's Al Marjan is being built on an island of almost 62 hectares
Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai, Minister of Finance and Chairman of the Federal Tax Authority (FTA), issued a decision regarding the implementation of the Marking Tobacco and Tobacco Products Scheme.
The decision stated that the scheme will go into effect on January 1, 2019, affecting all types of cigarettes sold locally - whether imported or locally produced - with plans to gradually expand the scheme to include all tobacco products. They will be digitally tracked, from production until they reach the end-consumer. This will help comply with excise tax requirements on tobacco products.
The FTA stressed the need for tobacco suppliers to abide by the scheme in order to avoid penalties, which could include being banned from trading until full compliance is achieved.
Marks will be placed on the packaging of tobacco products and registered in the FTA's database; they contain data that can be read using special devices.
As of January 1, 2019, the marks will be made available for importers or producers of designated excise goods, including cigarettes, to purchase and place on their products, indicating that due taxes have been settled.
As of May 1, 2019, it will not be permissible to import designated excise goods which do not have marks into the UAE. As of August 1, 2019, it will not be permissible to supply designated excise goods which do not have marks in the UAE.
- business@khaleejtimes.com
The beachfront resort in Ras Al Khaimah's Al Marjan is being built on an island of almost 62 hectares
With a proficient staff and cutting-edge technology, the hospital ensures accurate and timely test results, minimising any delays in the application process
Dubai's rental market thrives as the city attracts a growing population of residents, while Metahomes greets home hunters with a user-friendly experience and a vast selection of listings
Business expert presents cutting-edge solutions to clients in emerging and newly developed markets
PhysioTherabia has partnered with the leading insurance provider Takaful Al Arabia, in addition to Tawuniya, and has started engaging with other health insurance companies to ensure business scalability
The multi-million dollar project is expected to be completed before the end of the year
The event not only celebrated the chapter's annual gathering but also marked a significant milestone as the chapter commemorated its 10th anniversary
The event will be a deep dive into the latest trends, opportunities, and challenges confronting the banking and fintech sectors