Positive results for first year of UAE excise tax: FTA

Abu Dhabi: The Federal Tax Authority (FTA) on Saturday said compliance with Tax Returns requirements for the UAE’s Excise Tax is one of the highest rates in the world.

According to a statement, the compliance rate stood at 97.7 per cent of registered businesses, while the total number of registrants reached 715 registrants.

The Excise tax, introduced on October 1, 2017, places a 50 per cent on all carbonated drinks, except for sparkling water, and a 100 per cent tax on all tobacco products and all energy drinks.