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Excise Tax Implementation & Training In UAE

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Excise Tax Implementation & Training In UAE

The United Arab Emirates announced excise tax for the first time in October 2017 on particular items. It is levied on more than 1700 goods that are harmful to the environment or human health. These products include energy or carbonated drinks, electronic smoking devices, alcohol, tobacco & other related products

Each business dealing in these types of goods must be excised compliant under the tax procedure law. A UAE taxation regime is changed from time to time depending on recent business requirements. Our tax advisory services will provide you with professional excise tax implementation & training in UAE to make it easier to follow the FTA tax provisions and guidelines.

Scope Of Excise Tax In UAE

Implementation of excise taxes in the UAE is not only a means to generate revenue for the government, but is also aimed at reducing the consumption of unhealthy products. It is the responsibility of the regulatory authorities to lower the availability of harmful products from the market. This initiative was taken to indirectly control the health issues of the citizens and promote a healthy lifestyle in all of the Emirates. Therefore, all organizations are required to comply with the excise tax in UAE and ensure that their corporate social responsibilities are upheld.

Our Excise Tax Implementation In Dubai

BestaxCA offers a variety of excise tax implementation services in the UAE. The goal is to ensure that your business doesn’t get penalized by the Federal Tax Authority because of non-compliance with tax laws. Below we’ll discuss our excise tax advisory services:

  1. Excise Tax Planning & Consultancy

Excise tax planning is really important to effectively implement all the regulatory requirements of FTA. Our tax experts mitigate clients’ excise tax burden and simultaneously ensure savings on taxes in UAE. Our team does a feasibility analysis and evaluates certain tax credits and deductions throughout the year. Planning for excise tax involves specific strategies and policies for managing excise tax obligations. With our tax consultants in Dubai, you can receive comprehensive assistance in excise tax compliance services as per FTA standards.

  1. Ascertain Taxability Of Products 

If you deal in excisable goods, you must pay the UAE government the correct amount of excise taxes. With BestaxCA, you can identify which of your products is exempt from excise tax, what the applicable excise rate is, and calculate the exact amount of excise tax. We will verify the physical stock accuracy with a digitized inventory. This will help companies from unnecessary FTA sanctions and penalties.

  1. Excise Registration / De-registration Support

Our professionals give unlimited assistance to all business entities in excise tax registration and excise deregistration services in UAE. We help taxpayers in the whole FTA procedure under the regulatory requirements. The tax consultants make your financial records ready for tax registration / de-registration without any difficulty.

  1. Verification Of All Excise Documents 

In each step of excise tax implementation, FTA requires several documents and related information to consider your excise requests. These documents must be free of errors and verified so that the business entities will not be penalized for incorrect or late submissions. A team of tax advisors verifies all documents related to excise goods and assesses whether the documents are kept in compliance with UAE tax laws.

  1. Update IT Systems 

We assess your IT system’s functionality to determine whether it can manage and calculate excisable goods. Whenever there seem to be problems, our excise consultants direct you to the most suitable accounting software for your business. Bestax Chartered Accountants are associated with the leading accounting software to perfectly calculate tax on your excisable goods. We are an authorized partner of Zoho, which effectively generates tax invoices, inventory management reports, reconciliation statements, and other accounting reports.

  1. Prepare Excise Tax Report

BestaxCA professionals prepare and verify your excise tax report as per the UAE tax laws. We make ready your returns, refunds, voluntary disclosure & reconciliation for excise tax. For each record, our tax experts ensure excise tax implementation and prepare an audit report before the FTA inspection. We have years of experience in excise tax advisory and compliance services.

Our Excise Training & Awareness

Staff training is a crucial step in the success of the Excise journey. Bestax Chartered Accountants and tax consultants offer excise tax training and awareness programs. We strategically design modules for excise tax implementation in UAE to help companies comply with the latest excise laws. The purpose of excise training is to inform employees of the latest excise tax requirements defined by the FTA. We demonstrate some key factors in this program such as:

  • Define the Excise duties for importers & producers
  • Briefly discuss the latest excise tax rates
  • Assist them to identify tax risks and their solutions
  • Clarify customs information requirements
  • Explain FTA guidelines on excisable goods
  • Guide them in the excise registration & return filing process, etc.

 

During the excise tax training, the staff is taught how to handle excise-based transactions to a high level. However, a trained team of employees can efficiently handle tax records which ultimately affects the profitability, statutory compliance, and reputation of the organization.

BestaxCA Excise Consultants

BestaxCA always welcomes clients for professional excise tax implementation & training in UAE. Under the FTA guidelines, our experts provide policies that staff can use to successfully implement the excise tax laws. With our diverse portfolio of tax consultants, we can ensure accuracy in excise compliance and make amendments for a more efficient implementation. Feel free to reach out to our excise tax advisors if you have any questions or concerns!

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OUR Testimonials

Our latest Testimonials

However, I was the head of the finance department yet still found it difficult to conduct a financial audit in accordance with UAE regulations. Although, due to the competence and experience of BextaxCA's qualified auditors, all my concerns have been resolved

ylie Johnson

Accounts Manager, Abu Dhabi, General Trading Company

I utilized BestaxCA's accounting and bookkeeping services for my retail business in Abu Dhabi. It was fascinating to observe how they handled the finances. They provided me with out-of-the-box accounting solutions, which were really useful

Abdul Kaleem

Finance Manager, Dubai, Manufacturing Company

As per FTA requirements, the Bestax Chartered Accountants in UAE assisted me with VAT registration and filing. I personally consult with their tax experts to ensure they have the expertise necessary to provide timely answers

Abdul Kaleem

Finance Manager, Dubai, Manufacturing Company

I was so happy with the BextaxCA's services that I decided to use them for my personal tax planning and return filing. They really know their stuff when it comes to taxes!

Dwayne Perkins

Accounts Manager, Dubai, Services Provider

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Free 30 Days Trial

 We provide a free 30 days trial, No upfront payment! If you are not satisfied with our services, you don’t pay anything