Abu Dhabi – Mubasher: The UAE will implement an excise tax before the end of 2017, according to a statement.
The Ministry of Finance (MoF) has launched the first phase of awareness workshops, which aim at preparing businesses for the excise and value-added tax (VAT).
Excise taxes aim to decrease the consumption of some harmful goods, like tobacco and beverages.
The UAE already imposes a 100% tax on tobacco, with expectations to reach 200% with the application of the excise tax.
In addition, the VAT should come into force in early 2018.
