More 'harmful' products could be added to the UAE's excise tax list
The excise tax increased the price of tobacco and energy drinks by 100 per cent in October 2017…
The UAE is considering adding more products to the excise tax list, according to a statement from the Ministry of Finance.
The excise tax currently applies to three categories; tobacco products, energy drinks and carbonated drinks. When it was introduced in October 2017, it increased the cost of carbonated drinks by 50 per cent, and doubled the price of tobacco products and energy drinks.
According to Gulf News, the Ministry of Finance stated that it is conducting a technical study alongside officials in Saudi Arabia on the “addition of new goods to the selective tax list, as well as to determine tax rates on certain harmful substances.”
While a list of products up for consideration has not yet been detailed, when the excise tax was introduced in 2017, the government advised that the move is designed to discourage the consumption of products that negatively affect people’s health.
So it could be that your mid-afternoon sugary snack might be about to get a lot more expensive.
We’ll keep you updated as soon as we know more.