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).
His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, Minister of Defense, and Chairman of the Dubai Executive Council, has announced that the Dubai World Trade Centre (DWTC) generated an economic output exceeding AED 22.35 billion in 2024.
OpenAI has announced the launch of a new version of its advanced tool 'Deep Research' integrated into ChatGPT, maintaining a high level of quality while introducing enhanced accessibility across user tiers.
Japan's Prime Minister Shigeru Ishiba on Friday said the government has compiled an emergency economic package to alleviate any impact on industries and households from new US import tariffs.
Bangladesh and the World Bank have signed two financing agreements worth $850 million to strengthen the South Asian country's trade capacity, create jobs and modernise its social protection system.
Saudi Arabia and India agreed to boost cooperation in supplies of crude and liquefied petroleum gas, according to a joint statement reported by the Saudi state news agency on Wednesday following a visit by Prime Minister Narendra Modi.