The new customs duty, which was to be levied on goods bought internationally with a value of more than AED 300 will no longer apply in Dubai as of March 1, 2023.
This is according to an email sent by Dubai Customs, which also announced that as of March 1, the previous threshold of AED 1,000 for the exemption of parcels and shipments has been reinstated.
In January this year, Dubai introduced new customs duty on goods bought internationally with a value of more than AED 300, which earlier only applied to goods exceeding AED 1,000.
The email said, “Kindly be informed that Paragraph (a) of Article (2) of Customs Notice 5/2022 related to exemption of consignments with value not exceeding AED 300 has been suspended and that it has been decided to re-establish the previous threshold for exemption of parcels/shipments of AED 1,000 effective March 1, 2023, until further notice.”
The duty rate was set at five per cent of the value of the goods, which meant that residents shopping internationally had to pay a five per cent import duty, in addition to the five per cent value-added tax (VAT).
US automaker Tesla has warned that it and other major American exporters are exposed to retaliatory tariffs that could be leveled in response to President Donald Trump's aggressive use of tariffs.
The Abu Dhabi Fund for Development (ADFD) has announced the launch of the “Sofitel Legend Pyramids Giza” project, a luxury five-star hotel intended to be a landmark addition to the hospitality and tourism sector in Egypt.
The value of transactions conducted in the banking sector within the country through the UAE Funds Transfer System (UAEFTS) rose to AED 19.898 trillion during 2024, according to the latest statistics from the Central Bank of the UAE (CBUAE).
Dubai Electricity and Water Authority (DEWA) announced a contribution of AED 20 million to the Fathers' Endowment campaign, launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and the Ruler of Dubai.