Wed 13-09-2017 18:02 PM
ABU DHABI, 13th September, 2017 (WAM) -- His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, addressed over a million students in the UAE and congratulated them on the beginning of the academic year. The UAE Cabinet also praised the ease in which the 2017 - 2018 school year began.
The Cabinet also commended the directives of the UAE President on unifying the education system in the UAE.
Presided by His Highness Sheikh Mohammed bin Rashid Al Maktoum, the Cabinet also approved a decision to determine the community service mechanisms in line with the UAE’s aims to develop its legislations to become at the forefront of leading countries that use alternatives to imprisonment in case of small crimes, by enforcing mechanisms that see convicted persons complete community service as a means of reform and benefit the society at the same time.
The Cabinet approved implementing regulations for the tax procedures and the tax of excise goods, the methods of its percentages and the calculation of the excise price, in line with the goals of the economic treaty among the GCC member States that attempts to reach advanced stages of economic integration, in addition to issuing legislations and similar laws in both the economic and financial sectors.
In this context, Implementing Regulation of the Federal Law No. 07 of 2017 regarding the tax procedures was adopted. The regulation covers the fiscal procedures related to tax management, and collection by the Federal Tax Authority to regulate the mutual rights and obligations between the authority and its clients of tax payers, agents and legal representatives, and to regulate the common procedures that apply to all tax laws in the UAE.
The Cabinet also approved implementing regulation of the Federal Law No. 07 of 2017 regarding the excise tax that will be applied starting October 2017. The implementation of the rules identified the scope and period of the tax imposed and method of calculation, the exemptions, in addition to the frameworks, procedures and measures and provisions of tax registration and annulment. The regulation also clarifies the procedures and conditions of movement of excise goods, the frameworks of calculation of the due tax, as well as the deductible tax, the tax period and declaration, and the mechanisms of tax payment, with an integrated evaluation of penalties and cases of tax evasion.
The Cabinet also issued during this session a decision regarding the selective goods and tax percentages imposed in addition to the method of calculation used which sets the mechanisms and rulings of imposing the excise tax on some products deemed harmful to the health of individuals and society in order to limit its consumption and minimise the negative impact of them while bringing in revenue streams for the government to be invested in developing public services.
The list of excise goods includes tobacco products, soft drinks, energy drinks, any goods that classify as harmful for the health. The decision specified the percentages of the imposed tax on these goods which include: 100 percent tax on tobacco, 50 percent for soft drinks, 100 percent for energy drinks and the other products of the same nature for a maximum of 100 percent.
The Cabinet also approved in the regulatory context; the restructuring of the management board of the Securities and Commodities Authority headed by Sultan bin Saeed Al Mansouri, Minister of Economy, with the membership of a number of experts and specialised professionals, to achieve the strategic and operational goals of the authority.
Concerning international affairs, the Cabinet endorsed the establishment of a UAE Embassy in Georgia, in addition to signing two agreements with the government of Samoa and the government of Croatia regarding the air services between their respective regions and beyond. It approved to grant Indian nationals of regular passports with a residency visa issued from the United Kingdom and the European Union, entry to the UAE from all entry points in line with the direction of the UAE to strengthen international relations.
The UAE Cabinet meeting was attended by H.H. Lt. General Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Interior, and H.H. Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs.