UAE To Tax Tobacco and Soft Drinks
If thre was ever a time to give up on fizzy drinks and opt for a healthier lifestyle, this is it!
Soon. you may have to pay almost double for your can of coke or pack of smokes.
The UAE is implementing a tax on tobacco products as well as fizzy and energy drinks, it has been announced. The Minister of State for Financial Affairs announced the plans to tax the unhealthy products at the Federal National Council on Wednesday, and said it would be applied this year.
The taxes applied to tobacco are estimated to bring in AED2 billion. While a tax percentage on these products has yet to be announced, If the UAE plans to follow other GCC countries such as Saudi Arabia, tobacco could see a 100% tax whike fizzy drinks, 35%.
The move is in line with the UAE's plan to impletement VAT on all products by 208, along with the rest of the GCC.
Are you ready? We don't think we are!