The Excise Tax was introduced and imposed by the Federal Tax Authority (FTA) on October 1st, 2017. It was amended again on December 1st, 2019 by adding more taxable products. We have a group of accounting and tax professionals to offer you efficient excise tax services according to the excise laws in the UAE.
According to the FTA, the excise tax is a form of any indirect tax levied on those conducting business of products that are considered injurious to human health and the environment including tobacco, carbonated drinks, tobacco products, and energy drinks. By availing the right kind of tax consulting services, the excise tax liability will be reported accurately and submitted to the concerned authorities within the stipulated time period.
The companies that are engaged in these activities should register for excise tax such as stockpiling of excise goods, a warehouse keeper for excise goods, import of excise goods into the UAE, and the manufacture and production of excise goods.
The products included being registered as excise goods include- Tobacco and nicotine products, fluids used in electronic smoking devices and tools, sweetened drinks, carbonated drinks or aerated beverages except for unflavoured aerated water, electronic smoking devices, tools and energy drinks, which are either sold as an energy drink or which are marketed or
contain stimulant substances that give physical and mental stimulation.
The products exempted from excise goods include- Baby formula/baby food, beverages consumed for special dietary needs, for medical uses, ready to drink beverages with at least 75% milk or milk substitutes.
Our excise tax experts will help you at every stage to help shape your business with excise tax planning and advice. Our professionals help you manage excise taxes and understand the various opportunities to mitigate their impact. Next, our experts will verify all your documents related to excise goods and evaluate all the documents related to UAE tax laws. They also do a thorough tax check-up and ensure calculations are accurate.
Our professionals will review all your Excise tax records, returns, and reconciliation to ensure timely submission and maintain your tax records in the best way possible to save your money and avoid penalties. We can help your business to grow by providing the best strategies with systematic excise tax registration and excise tax advisory services.
With profound years of experience and adapting to the FTA standards, we are fully committed to accumulating your tax excise return in UAE.
We calculate and monitor invoices, records, invoices, and reconciliations with a team of certified auditors and advisors. Our team is compliant with Financial Tax Authorities (FTA) by ensuring complete guidance on excise tax issues. We are highly concerned about safeguarding your company assets by following a structured tax reporting as per the official UAE excise laws.
For more information, connect with us and let us help boost the financial position of your company.