UAE denies cancellation of duty exemption

The UAE Ministry of Economy has officially denied speculations that, the exemption allowing the cut end bend facilities in the country to import steel without paying the 5% import duty has been cancelled.

The Ministry stated that the cut and bend facilities in the UAE will be under strict control amid reports of serious illegal practices, as there are claims of imported rebars being sold in to the domestic market without any cutting and bending process despite being imported under the exemption.

With the introduction of new measures, the Ministry is expected to inspect the import records of the cut and bend facilities as well as their capacities, and all other records.

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