Since 2018-05-28 at 14:56 (Baghdad time)
[ltr]Follow - Mawazine News
Abu Dhabi's trade in raw tobacco and its derivatives declined during the first two months of this year to 9 million dirhams (2.5 million US dollars) and by 92 percent compared to the same period in 2017, About 31 million dollars).
According to the Emirates News Agency (WAM), Abu Dhabi's trade in tobacco and its derivatives (cigarettes, honey, tobacco, etc.) has declined for the fifth month in a row since the introduction of the selective tax on tobacco and its derivatives in October last year , Followed by the imposition of VAT on all goods and services, with limited exceptions.
In the last quarter of last year, Abu Dhabi's trade in tobacco and tobacco products declined by 53.4% compared to the same period of 2016.
The vast majority of Abu Dhabi's tobacco trade was classified as re-export in the first two months of this year, with a value of AED 8 million ($ 2.2 million), compared with AED 112 million ($ 30.7 million) in January 2017.
Abu Dhabi's exports of tobacco and its derivatives reached zero in the first two months of this year; imports amounted to only 1.1 million dirhams ($ 300,000).
The UAE began to apply selective tax on "health-damaging" goods early last October; the tax on tobacco and its derivatives was imposed at 100%; and the tax was imposed on different rates for soft drinks and energy drinks. Finished[/ltr]