Sin Tax

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Old Aug 23rd 2017, 7:46 am
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Default Sin Tax

Sin tax coming for energy drinks, coke and tabacco from October.

President issues decree on Excise Tax | GulfNews.com

https://www.bloomberg.com/news/artic...-boost-revenue

The levy is estimated to generate around 7 billion dirhams ($1.9 billion) in annual revenue for the U.A.E. government, according to WAM. Energy drinks and tobacco products will be subjected to a 100 percent tax, while the levy on soft drinks will be 50 percent, Al Khoori said.

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Old Aug 23rd 2017, 8:04 am
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Default Re: Sin Tax

A pack of ciggies goes from 10 to 20 AED. That's still less than five quid and half the price as the UK. Don't see the Lebbos cutting back but the Egyptians will mightily complain. The Indians will delve into a black market.

A coke goes from 1.5 to 2.25 AED? Dang. That will screw up my budget.

Originally Posted by Millhouse View Post
Sin tax coming for energy drinks, coke and tabacco from October.

President issues decree on Excise Tax | GulfNews.com

https://www.bloomberg.com/news/artic...-boost-revenue

The levy is estimated to generate around 7 billion dirhams ($1.9 billion) in annual revenue for the U.A.E. government, according to WAM. Energy drinks and tobacco products will be subjected to a 100 percent tax, while the levy on soft drinks will be 50 percent, Al Khoori said.
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Old Aug 23rd 2017, 8:19 am
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Default Re: Sin Tax

Originally Posted by DXBtoDOH View Post
A pack of ciggies goes from 10 to 20 AED. That's still less than five quid and half the price as the UK. Don't see the Lebbos cutting back but the Egyptians will mightily complain. The Indians will delve into a black market.

A coke goes from 1.5 to 2.25 AED? Dang. That will screw up my budget.
Well, given that I don't smoke or drink soft drinks it won't affect me.

However, I'm surprised by the numbers (if they are true) - 1.9$ billion of cash taken out of the economy to the government. That's quite significant - especially when the GDP of Dubai is only around $100bn
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Old Aug 23rd 2017, 8:22 am
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Default Re: Sin Tax

Originally Posted by Millhouse View Post
Well, given that I don't smoke or drink soft drinks it won't affect me.

However, I'm surprised by the numbers (if they are true) - 1.9$ billion of cash taken out of the economy to the government. That's quite significant - especially when the GDP of Dubai is only around $100bn
And then VAT in January. I know its a new tax but surely that will also remove some disposable from that GDP budget as well??
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Old Aug 23rd 2017, 8:27 am
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Default Re: Sin Tax

A tax on coffee is what would affect me the most.

Why hasn't that been tried?

Originally Posted by Millhouse View Post
Well, given that I don't smoke or drink soft drinks it won't affect me.

However, I'm surprised by the numbers (if they are true) - 1.9$ billion of cash taken out of the economy to the government. That's quite significant - especially when the GDP of Dubai is only around $100bn
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Old Aug 23rd 2017, 8:45 am
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Default Re: Sin Tax

Originally Posted by TheShed View Post
And then VAT in January. I know its a new tax but surely that will also remove some disposable from that GDP budget as well??
Been thinking about the 1.9bn to the government... it doesn't say over which time frame so probably this is some discounted perpetual amount. Probably insignificant on an annual basis.

Fully agree though with your point, at some point it will have to bite. You can't just take from the economy and expect no negative effects, unless you believe that it all gets reinvested back in and there is the multiplier effect.
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Old Aug 23rd 2017, 9:59 am
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Default Re: Sin Tax

Originally Posted by Millhouse View Post
...

The levy is estimated to generate around 7 billion dirhams ($1.9 billion) in annual revenue for the U.A.E. government, according to WAM. Energy drinks and tobacco products will be subjected to a 100 percent tax, while the levy on soft drinks will be 50 percent, Al Khoori said.
That's poor syntax.
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Old Aug 23rd 2017, 10:00 am
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Default Re: Sin Tax

Originally Posted by TheShed View Post
And then VAT in January. I know its a new tax but surely that will also remove some disposable from that GDP budget as well??
Will VAT be added when a freezone co sells to an LLC? I have absolutely no idea how on earth I'm going to sort that shit shower out.
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Old Aug 23rd 2017, 10:10 am
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Default Re: Sin Tax

Originally Posted by Bahtatboy View Post
That's poor syntax.
I also wonder if they will start taxing the girls serving the cocks as well as the cokes.
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Old Aug 23rd 2017, 10:15 am
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Default Re: Sin Tax

Originally Posted by Millhouse View Post
I also wonder if they will start taxing the girls serving the cocks as well as the cokes.
And that would be an awful sin tax.
(Deliberately syntactically ambiguous.)
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Old Aug 23rd 2017, 10:17 am
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Default Re: Sin Tax

Originally Posted by Millhouse View Post
I also wonder if they will start taxing the girls serving the cocks as well as the cokes.
On a PAYE basis? Pay As You Enter...
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Old Aug 23rd 2017, 1:30 pm
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Default Re: Sin Tax

Originally Posted by Millhouse View Post
Well, given that I don't smoke or drink soft drinks it won't affect me.
Will you and DXBtoDOH stop hogging all the fun?
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Old Aug 23rd 2017, 3:57 pm
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Default Re: Sin Tax

so fags bought from duty free will be cheaper or more expensive now?
I dont smoke...anymore
I vape...yes I am cool, deal with it
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Old Aug 24th 2017, 5:05 am
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Default Re: Sin Tax

Originally Posted by DXBtoDOH View Post
A coke goes from 1.5 to 2.25 AED? Dang. That will screw up my budget.
So even diet 'soda' is covered.

Interesting.
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Old Aug 24th 2017, 6:08 am
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Default Re: Sin Tax

I'm pleased that booze isn't included.
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