The UAE Is Going To Add Tax To Fizzy Drinks And Tobacco This Year
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.
The move comes ahead of the implementation in 2018 for VAT across the GCC
The tax could be up to 100%, as this is the cap for such a tax on products - though Saudi Arabia has recently placed a 35% tax on fizzy drinks, and a 100% tax on tobacco.