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DUBAI / WAM The Excise Tax Law shall come into play effective October 1 in the UAE, Ministry of Finance told Emirates News Agency (WAM). “The Tax shall impact all excise goods consumed inside the country, including all the country’s free zones and ports,” said Younis Haji Al Khouri, the Undersecretary of the Ministry of Finance, in exclusive statements to ...

Abu Dhabi / Emirates Business Non-oil trade between the UAE and the USA hit more than AED111.1 billion – US$30.3 billion- by the end of 2016, including free zone trade, against $27.8 billion in 2015, said Sultan bin Saeed Al Mansouri, Minister of Economy His Excellency Eng. Sultan bin Saeed Al Mansoori, Minister of Economy, recently met with HE Barbara ...

DUBAI / WAM Dubai Healthcare City Authority, the governing body of the Dubai Healthcare City free zone, announced a partnership with Dubai Silicon Oasis Authority (DSOA), the regulatory body of Dubai Silicon Oasis to enable healthcare providers operating in DHCC to swiftly open branches in DSO, the integrated free zone technology park. Signed by Dr Ramadan AlBlooshi, CEO of Dubai ...

Bloomberg Manufacturers of “Made in the UK” cars are facing a worrying dilemma: Their vehicles might not be British enough to escape expensive tariffs after Brexit. Current trade pacts generally require exporters to prove that 50 to 60 percent of a product’s components are from the originating country to avoid tariffs. But UK cars are now just 44 percent British-made ...

Bloomberg Verizon Communications Inc. is introducing a lower-priced, lower-quality unlimited mobile data plan to compete more aggressively with smaller rivals like T-Mobile US Inc., while raising the cost for those who want the clearest videos. Starting Wednesday, Verizon is eliminating its popular $80-a-month unlimited plan and replacing it with an $85 premium plan with high-definition video and a $75 unlimited ...

Bloomberg Facebook Inc. is lucky it owns Instagram. This year, the world’s largest social network will see a decline among teen users in the US, according to a forecast by EMarketer. It’s the first time the research company has predicted a fall in Facebook usage for any age group. EMarketer predicts 14.5 million people from the ages of 12 to ...

Bloomberg Donald Trump vowed as a presidential candidate to reduce America’s military involvement abroad and quickly defeat IS terrorists. His announcement of an open-ended commitment to Afghanistan to battle extremists is a concession that as president he cannot meet either promise. Trump’s shift on Afghanistan is the latest indication of how difficult it has been to deliver on his “only ...

Bloomberg North Korea’s saber-rattling is at last being felt in its southern neighbour’s bullet-proof bond market. Foreign investors have started to look for the exits, selling a net $415 million worth of Korean notes last week, only the second weekly outflow since November, according to the nation’s Financial Supervisory Service. That’s a precipitous drop from the $4.3 billion of net ...

Bloomberg Singapore’s government will support technology startups by doing business with them rather than having them rely on grants as the city-state pushes ahead with a plan to become a high-tech hub, a top minister said. The government wants to fuel private-sector innovation, especially among small and medium-sized firms, in a bid to create a digitally integrated economy, Vivian Balakrishnan, ...

The FTA may exempt a Person from registration, but not payment of tax, if they can demonstrate that they will not regularly import Excise Goods. However, anyone who has been exempted from Tax Registration must immediately inform the Authority of any changes to his/her circumstances that would make them subject to tax, and they must do so within the allotted ...