iPhone | iPad
Android
Huawei
Arab-Canadian public speaking coach and author of The Million Dollar Speaker Maher Elusini on how to make your speech command value for time and money
KT APPDOWNLOAD
UAE Cabinet okays VAT, excise tax regulations
Value-added tax will come into force in the UAE from January 1, 2017, on a range of goods and services.
dubai - The UAE will double excise tax on tobacco and energy drinks and 50 per cent on soft drinks starting from October 1, 2017
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, chaired the cabinet meeting on Wednesday where it approved a number of other regulations as well.
The UAE will double excise tax on tobacco and energy drinks and 50 per cent on soft drinks starting from October 1, 2017.
However, value-added tax will come into force in the UAE from January 1, 2018, on a range of goods and services. The five per cent tax is set to be imposed on the import and supply of goods and services at each stage of production and distribution, including what is deemed to be a supply. Some of the key sectors have been exempted while others are subjected to either zero-rated or five per cent tax.
Apart from the UAE, Saudi Arabia is the other GCC country to be joining in implementing VAT from early next year while other regional countries will implement at a later stage.
- waheedabbas@khaleejtimes.com
More news from
The legendary Greek-Russian conductor Teodor Currentzis, who is all set to perform at the Dubai Opera next week, on music transcending cultural and language barriers
Not every kid is meant to go to university or college. So, it makes sense to teach them entrepreneurial skills early
Some hotels quote Dh1,000 to Dh8,000 for standard hotel room that would usually start at around Dh345 per night
When feeling stuck in life, it's important to revise your thinking patterns
A guide on the channels to report complaints about violations at your workplace
The standout performances came from Arwa Saleh, Mohammed Al-Dhahouri and Amna Al-Loughani on the Taekwondo mat
The story of a non-resident Bangladeshi family establishing and running the famed perfume company Al Haramain and its successful subsidiaries
