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Excise Tax Consultancy Services in UAE

Excise tax is an indirect tax imposed by the UAE government on the sale, purchase, and production of specific goods and services. These products harm human health and the environment. Excise is the inland tax that is levied to control the consumption of these goods and raise funds for public welfare. In the United Arab Emirates, businesses paid special attention to tax excise regulation to secure themselves from heavy fines. Bestax Chartered Accountants assist you in excise tax registration and compliance services to legitimate your business activities in this competitive market of UAE. 

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This detailed guideline will help you to understand excise tax laws in the United Arab Emirates and it’s the implementation:

Products Subject to Excise Duties

An excise tax is not implemented on all types of products, but the goods affecting living beings and the surroundings pay a certain amount of tax as per government regulations. It includes

  • Electronic Smoking Devices
  • Sweetened Drinks
  • Carbonated & Energy Beverages
  • Petroleum Products
  • Alcohol and beer.
  • Material used in electronic smoking products 
Excise Laws in UAE 

Excise laws in UAE are imposed by federal tax authorities (FTA) that are responsible for compliance obligations on excisable products in the United Arab Emirates. The excise tax law became effective in the UAE from 1st October 2017 through FTA. Later they amended the law on 1st December 2019 by adding more taxable products. FTA is the financial authority in UAE that conducts audits of taxable firms and imposes penalties on those businesses that do not comply with the excise law.

Now all excisable entities must register themselves for excise tax in Dubai. BestaxCA has a group of chartered accountants and auditors that offers efficient excise tax services according to UAE excise laws. 

Entities Should Register for Excise Advisory

There are the following companies that should comply and register themselves for excise tax consultancy in the United Arab Emirates: 

1- Manufacturers of Excise Goods

2- Importers of Excise Products

3- Warehouse Keeper for Excise Goods

4- Stockpilers in UAE

 

BestaxCA Excise Tax Consultancy Services Consist of: 

Bestax Chartered Accountants is one of the certified firms for tax consultancy in the United Arab Emirates. Our excise tax experts will help you in each stage of excise tax to shape the future of your business. 

Excise Tax Rates Planning 

As we know excise tax rates are different on each product, as per Cabinet Decision No. 52 of 2019 of UAE, the excise tax products rates are given as below:

  • 50% on carbonated drinks
  • 100% on tobacco products
  • 50% on sweetened drinks
  • 100% on electronic smoking devices and tools
  • 100% on energy drinks
  • 100% on electronic smoking devices
  • 100% on liquids used in such devices and tools
  • 50% on any product with added sugar or other sweeteners.
  • 100% on liquids used in electronic smoking devices
Excise Tax Return Advisory Services 

The excise tax return is a complex type of financial service, in which all the entities are concerned about the products selling, purchasing and manufacturing as per FTA standards. But the lack of knowledge and expertise on UAE tax compliance enforces businesses to take assistance from an independent tax advisor. Bestaxca professional services help to assure them that excise tax liability is correct and submitted to the tax authorities before deadlines.

Excise Tax Training and Awareness  

Bestax Chartered Accountants and tax advisors also assist employees, executives, managers and finance officers in understanding excise tax regulations, tax compliance services and other excise training. We aim to boost the financial position of your company by efficiently handling your taxes.

Excise Tax Registration & Submission

After analyzing your products are excisable and the foremost step is to do excise tax registration and its submission to Federal Tax Authority of UAE. A formal list of documents is required for excise tax registration and then the final report is submitted to FTA.

What is Excise Tax Return Filing Penalty?

Excise tax return filing penalty means that excise tax file is not submitted in at least 20 business days. Under the current amendments to the rule, a taxpayer has to pay an excise tax penalty on goods from which date it was originally due. If tax filing is not on time it will attract penalties and a certain amount of fines from federal tax authorities (FTA). 

Documents Required for Excise Tax Reporting in UAE

For excise tax consultancy services in Dubai, there is a list of documents that are needed for excise tax registration, such as:

  • Signatory passport copy and Emirates ID for authorization.
  • Company bank account details which include IBAN, account number & title, and Bank name.
  • Details of custom registration if applicable.
  • Records and supporting documents of all excise products.
  • Evidence of goods exported and sold outside the UAE.
  • Detail about your role of involvement for excise goods registration.

Business administration & operational activities and related information.

Our Strengths in Excise Tax Consultancy in Dubai, UAE

Bestax Chartered Accountants are experts in excise tax audit and compliance services. We are committed to accumulating your tax excise return in UAE by adapting the FTA standards. Our remarkable experience in these accounting and tax consultancy services makes us the top financial advisors in the United Arab Emirates. With 15 years of experience Bestaxca conquers its many weaknesses and gains strength in excise tax services in Dubai, following are:

  • We are compliant with Financial Tax Authorities (FTA).
  • We are committed to 24/7 availability for our clients.
  • We ensure you complete guidance on excise tax compliance.
  • We calculate and monitor records, invoices, and reconciliations.
  • We have an experienced team of certified tax advisors and auditors.
  • Our tax reporting is fully structured as per the UAE official excise laws.
  • We are concerned about safeguarding your company assets and saving you from heavy fines.
  • We are registered with all reputed free zones in the United Arab Emirates.
Let’s Connect to Bestax Chartered Accountants:

Bestax Chartered Accountants is a complete package of excise tax planning, advisory, compliance training and excise tax registration. For more information on excise tax advisory services in UAE contact us at: +971 56 7981808