Media ININ Economy We Trust
Media In – Dubai May 6,
The Federal Tax Authority announced the launch of the “Marking System for Tobacco Products” project to track tobacco products, combat tax evasion and commercial fraud and collect taxes on these products through electronic markings that can be tracked electronically as part of the Authority’s efforts to complete the application of tax regulations Which will strengthen the mechanisms of guaranteeing the payment of selective tax on tobacco products as of the beginning of next year (2019), noting that the application at this stage will include all cigarettes imported, produced and traded in the UAE.
This came during a meeting organized by the Federal Tax Authority on the mechanisms and objectives of the “System of Marking Tobacco Products”, which was opened by Khalid Ali Al Bustani, Director General of the Federal Tax Authority with the participation of a large number of importers and producers of tobacco products in the UAE.
The new system has also been reviewed to ensure that the selective tax on tobacco products applied throughout the UAE is confirmed by installing digital labels on cigarette packs in the first stage. The system is gradually expanded to include all locally traded tobacco products by installing the digital label The product will be traceable at all stages, ensuring full and strict compliance with the selective tax payable on tobacco and tobacco products.
The system is an innovative solution to face tax evasion. Digital brands will facilitate the inspection and control of customs outlets and markets and prevent the sale of non-taxable products. The markings will be installed on tobacco product packaging and registered in the Authority’s database. Electronically can be read by a special device through which to ensure payment of tax on these products.
Khalid Al Bustani, Director General of the Federal Tax Authority, said in a press release that Media has received a copy of the report that the Authority has made great strides in its plan to implement the new system according to the best international standards. To be applied during the coming period in coordination with customs departments and economic development departments and producers and importers of tobacco and its products.
