Yesterday, the Federal Tax Authority published a new Cabinet Decision No.(59) with the List of all the Designated Zones in UAE which are following special rules for VAT application.
Article (51) of the Federal Decree-Law No. (8) of 2017 on Value Added Tax specifies that transfer of goods between designated zones is tax free.
On September 27th 2016, as according to the official website of the Administration for Quality Supervision, Inspection and Quarantine of the PRC (AQSIQ), the Chinese government ended the ban on Italian pork meat, which had already been lasting for 17 years.
China reduces the rate of the consumption tax on cosmetic products as part of a thirteenth five-year plan, approved by the PRC government, which aims to stimulate domestic spending and stir growth. A good sign for imported cosmetic brands.
Even the UAE will have their Federal Tax Authority (AFC). The decree establishing the new institution was issued at the end of October and in 90 days the new Authority will be ready to start.