DUBAI: Abu Dhabi industrial products and materials shipped into the emirate will be exempt from customs tax from January 15, officials said.
The exempted imports include raw material, machinery, equipment and spare parts, according to the Abu Dhabi Department of Economic Development and the General Administration of Customs, announced at a media event in the emirate on Wednesday, report agencies.The move is part of strategic initiatives that form Abu Dhabi Government's three-year Dh50 billion stimulus package for the emirate, unveiled in June. The exemption announcement, carried on state-run news agency Wam, did not specify to which projects the bulk of Abu Dhabi industrial imports are headed. The capital city has several industrial free zones, including Khalifa Industrial Zone (Kizad) and Khalifa Port Free Trade Zone, generating demand for machinery and supplies, as well as the oil refineries operated by Abu Dhabi National Oil Company, and a significant amount of construction activity taking place across the emirate and nearby in Dubai – particularly in the run-up to mega-event Expo 2020 Dubai. The tax exemption will be co-ordinated through the imports beneficiaries’ annual balance systems run by the General Administration of Customs in Abu Dhabi and the Industrial Development Bureau at the Department of Economic Development, Wam reported.