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Free-trade zones in Dubai, (FTZs) are special economic zones set up with the objective of offering tax concessions and customs duty benefits to expatriate investors. There are 26 Free Zones operating in Dubai. FTZs in Dubai and the UAE are governed pursuant to a special framework of rules and regulations. A Free Zone Authority offers business ...
The Microsoft sign at the entrance of the Dubai Microsoft campus, Dubai Internet City Dubai Maritime City, Dubai under construction in 2008. A free zone authority is a designated economic area governed by its own set of regulations, which differ from those applicable to businesses outside the zone.
DAFZ was established in 1996. It came into being as a part of the Dubai government's strategic plan to make Dubai an investment-driven economy. Today, it is one of the fastest-growing and pioneering free zones in the region, contributing to around 4.7 percent of Dubai's gross domestic product) It allows international investors a completely duty-free business setup and execution of services ...
The opening of the Sheikh Rashid terminal at Dubai International Airport in 2000 saw the staff count at the various Dubai Duty Free locations throughout the airport rise to 900, which came with a 5,400 M 2 expansion of floor space. The turnover in 2001 rose to $222 million and in 2003, 20 years after it was established, finished off with a ...
As of August 2009, Dubai Duty Free was the biggest single airport retail operation in the world ahead of London's Heathrow and Seoul's Incheon airports. [citation needed] In addition to a wide array of duty-free shops and eating outlets, Dubai Airport has two open-air garden areas. Dubai Airport has numerous business centres located around the ...
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Dubai Airports Company was structured in 2008 to take control of Al Maktoum International Airport at Dubai World Central in Jebel Ali, Dubai International Airport, and Dubai Cargo Village. [1] In 2016, Dubai Airports started working on the expansion of the Al Maktoum International Airport, from 66,107 to 145,926 sq metres. [2]
The customs duty rate is 50% on CIF of alcohol, and 100% on CIF of cigarettes. VAT is also charged at the standard rate for the imported items. The UAE charges some anti-dumping duties on some products, with some duties as high as 106% for some ceramic imports, including those imported from the GCC Customs Union. [34] [35]