Tax violations amounting to AED 71.48 million was uncovered by Federal Tax Authority (FTA) in local markets across the UAE.
The authorities conducted over 2,200 field inspections during the second quarter of this year, finding over 650 violations.
The FTA has intensified its inspection campaigns in collaboration with the Ministry of Economy, the Federal Customs Authority and other competent authorities to ensure compliance with tax legislation and procedures.
The field inspections conducted during the second quarter of 2021 detected 2.86 million unregistered tobacco products that did not bear the Digital Tax Stamp (DTS).
Another 202,000 excise goods, including carbonated beverages, energy drinks, and sweetened drinks, also failed the inspection, according to Sara Al Habshi, Director of the FTA’s Tax Compliance and Enforcement Department.
According to FTA Director-General Khalid Ali Al Bustani, these raids are essential to "protect consumers and combat tax evasion".
Jaguar Land Rover will pause shipments of its Britain-made cars to the United States for a month, it said on Saturday, as it considers how to mitigate the cost of President Donald Trump's 25% tariff.
U.S. customs agents began collecting President Donald Trump's unilateral 10% tariff on all imports from many countries on Saturday, with higher levies on goods from 57 larger trading partners due to start next week.
The tech-heavy Nasdaq Composite index was set to confirm it was in a bear market on Friday, down more than 20 per cent from a recent record high, as investors fled riskier assets on fears that tariffs imposed by President Donald Trump could spark a trade war and tip the global economy into recession.
UAE-based Dana Gas and Crescent Petroleum, alongside their partners in the Pearl Petroleum consortium, have said the cumulative production from their Khor Mor project, the largest non-associated gas field in Iraq, has exceeded 500 million barrels of oil equivalent (boe).