UAE
Obaid Al Tayer, the minister of state for financial affairs has announced that a new law on excise duty on tobacco as well as fizzy and energy drinks is expected to be issued this year.
According to the minister, tax on tobacco alone is expected to bring in Dh2 billion in annual revenues. He said that it was too early to estimate revenues from drinks as consumption is likely to drop.
The cap for excise duty is 100%, but “it could be less (and) depends on the law for each country,” the minister said.