The UAE's Federal Tax Authority (FTA) confiscated goods worth over AED 191.8 million in 2020 that failed to comply with the country's tax regulations.
It seized 9.4 million cigarette packs and 14,000 kg of shisha tobacco products that did not carry digital tax stamps.
Another 803,000 items that included carbonated beverages, energy drinks, sweetened drinks and electronic smoking devices (along with their tools and the liquids used in them) were also uncovered during the inspections last year.
The FTA relies on various field and electronic inspection procedures aimed at preventing the sale, circulation, and stockpiling of products that have not fulfilled their Excise or Value Added Tax (VAT) obligations.
The FTA's Director-General, Khalid Ali Al Bustani, emphasised that the Authority prioritises consumers' protection from harmful products that do not meet the UAE’s regulations and standards, while actively combating tax evasion.
US automaker Tesla has warned that it and other major American exporters are exposed to retaliatory tariffs that could be leveled in response to President Donald Trump's aggressive use of tariffs.
The Abu Dhabi Fund for Development (ADFD) has announced the launch of the “Sofitel Legend Pyramids Giza” project, a luxury five-star hotel intended to be a landmark addition to the hospitality and tourism sector in Egypt.
The value of transactions conducted in the banking sector within the country through the UAE Funds Transfer System (UAEFTS) rose to AED 19.898 trillion during 2024, according to the latest statistics from the Central Bank of the UAE (CBUAE).
Dubai Electricity and Water Authority (DEWA) announced a contribution of AED 20 million to the Fathers' Endowment campaign, launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and the Ruler of Dubai.