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Excise Pre-Audit Health Check

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Excise Tax Pre-Audit Health Check-In Dubai

Since 2017, an excise tax has been implemented on specific types of goods in the United Arab Emirates. All registered entities under FTA must review the taxability of their excisable goods, monthly file their excise return, and comply with the other tax obligations. It is important to remember because the authorities can call you whenever they want to perform an excise tax audit. Any identification of non-compliance by FTA auditors can result in heavy fines imposed on the taxable person. Therefore our tax consultants in Dubai will provide you with a professional excise tax pre-audit health check service. By taking this precaution, companies can avoid FTA sanctions in the future.

Excise Tax Audit 

An excise tax audit is an examination and verification of the tax compliance of a registered entity. It is conducted to check whether the excise tax liabilities of a taxable person are accurate and paid appropriately in a specified time period.

Who Will Do The Tax Audit In UAE?

Under the provisions of Federal Law by Decree No. 13 of 2016,  the Federal Tax Authority is in charge of collecting taxes in a particular tax period in the UAE. The FTA is the official regulatory authority of the state who can conduct a VAT/excise tax audit to analyze the performance and tax handling of business.

How FTA Decides Entity For Excise Audit?

The Federal Tax Authority determines the business for an excise tax audit, but there is no specific criteria. It is a totally FTA-based decision on who will be audited and at what interval. They can inspect a taxable business entity anywhere or anytime for official tax scrutiny. The relevant authority usually targets a business if they anticipate a risk, error, or tax evasion in accounts.

The FTA sends a five-day prior notice to the taxable entity for their excise tax inspection. Although in a suspected tax evasion case the auditors surprisingly visit the company. They usually determine the place and time of an excise tax audit in UAE. The presence of your legal representative is recommended to assist the FTA auditors in the whole procedure. The auditors may ask you for the original or copied excise documents. It is conducted mostly on business days. They can also do a re-audit if the entity doesn’t meet the tax obligations in the first turn as per the Excise Tax Procedure law in UAE.

How To Get Ready For An Excise Audit?

The auditors will request essential information and documents related to your excisable goods. We will mention the mandatory requirements for an excise tax audit in UAE:

  • Statement of all manufactured, imported, and stockpiled excise goods in the last year
  • Evidence and documentation of exported excisable products
  • Monthly sales of excise goods for the last tax period along with invoices
  • Report on excise goods produced, imported, and released from designated zones
  • Tax record of all damaged or lost excise goods
  • Record of due taxes on imported, stockpiled and produced excise goods
  • Information related to the type of item, quantity, and value of excise goods
  • Detail record of stock levels
  • Record of the deductible tax on excisable goods

Why Is Pre-Audit Tax Health Check Significant?

The pre-audit health check is significant for all taxable companies operating in the United Arab Emirates. This prior assessment analyzes the potential taxation issues, spots excise non-compliance areas, and identifies business uncertainties. Your excise tax records should be corrected before the auditor investigates them in order to remove errors or omissions. Otherwise, your business account will be penalized by the UAE regulatory authorities. We will perform an excise pre-audit assessment of your tax records to rectify all potential errors.

BestaxCA Helps You In Pre-Audit Assessment

BestaxCA is associated with the leading auditing firms in Dubai, United Arab Emirates. The experts have vast consultancy experience in FTA audits and UAE tax laws. The dedicated team of auditors assists you in excise tax registration, return filing, compliance, and implementation services. Professional third-party services ensure that excise regulations are already incorporated into your business accounts so that you don’t have to worry when the FTA announces an audit. With our audit assistance service, all your transactions and returns of excisable goods are reviewed according to FTA guidelines. They will ensure the accuracy of tax records as per statutory provisions and regulations.

With our pre-audit assessment, you get ready for the excise tax audit in UAE anytime. We will prepare all your necessary documents and other information to make the inspection smooth and error-free. We promise our domestic and international clients that we will safeguard them from the non-compliance penalties and prosecutions.

Our Excise Health Check-Up Includes

While making your business ready for excise tax audit in any Emirate of UAE, we will focus on these major areas, as mentioned below:

  • Examine your filed excise tax returns and identify errors in them
  • Confirm that all excise tax records are compatible with FTA requirements
  • Suggestions for excise planning and new strategies.
  • Evaluate the level of accuracy of your excise accounts.
  • Recognize issues related to UAE tax compliance
  • Proof case on your behalf to the FTA auditors
  • Assist you in all follow-up queries by the regulatory authorities

For getting our comprehensive excise tax pre-audit health check service, you can contact us now.

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