October 1, 2017 7:10 PM

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UAE begins collecting 'sin' taxes on tobacco, energy drinks

The United Arab Emirates today started collecting new "sin" taxes on tobacco products, energy drinks and soft drinks. <br/><br/>Tobacco and energy drinks will be taxed at 100 per cent and soft drinks at 50 per cent. Shoppers could be seen stocking up the day before.<br/>The new tax push comes as the UAE and other oil-rich Gulf nations have struggled with low global energy prices. <br/><br/>The UAE will start collecting a 5-per cent value-added tax on certain<br/>goods in January. <br/><br/>All six members of the Gulf Cooperation Council have agreed to begin collecting VAT taxes, though others may begin later than January.

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