The UAE's Federal Tax Authority (FTA) has completed preparations for the second phase of the digital tax stamp system for tobacco products.
Initially, it only applied to cigarette packs but from November 1, the scheme will cover waterpipe tobacco and electronically-heated cigarette plugs as well.
These products are required to carry digital seals that track the items all the way from production to end-use.
It’s aimed at combating tax evasion and protecting consumers from commercial fraud.
"Starting from 1st March 2020, importing any type of waterpipe tobacco and electronically-heated cigarette plugs into the UAE without the Digital Tax Stamps will be strictly prohibited," said the FTA's Director-General, Khalid Ali Al Bustani.
"Following that, another ban will come into effect on 1st June 2020, this time affecting any supply, transfer, stockpiling, or circulating of unmarked waterpipe tobacco and electronically heated cigarette plugs in UAE markets," added Al Bustani.
Manufacturers and suppliers can access the digital tax system by placing a request through the FTA website.
US-based investment bank Morgan Stanley has acquired regulatory approval to move its regional headquarters to Riyadh as the Kingdom increasingly attracts global companies.
The Environment Agency – Abu Dhabi, (EAD) has announced that Abu Dhabi will be the first in the Middle East and North Africa (MENA) region to implement the Enhanced Transparency Framework (ETF) on a subnational level, following last year’s national level launch by the Ministry of Climate Change and Environment (MOCCAE).
The COP29 Presidency announced on Saturday the end of the decade-long wait for the conclusion of negotiations on high integrity carbon markets under Article 6 of the Paris Agreement.
A US bribery indictment of Indian billionaire Gautam Adani is linked to one contract of Adani Green Energy that makes up some 10 per cent of its business, and no other firms in the conglomerate are accused of wrongdoing, the group's CFO said on Saturday.
The Emirates Red Crescent (ERC) has launched its winter aid campaign, aiming to support 250,000 people worldwide, especially in countries hosting refugees.