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Excise Tax Compliance

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Excise Tax Compliance Service In UAE

The excise tax is levied on taxable entities dealing in specific types of goods that are harmful to the environment or human health. That businesses must be compliant with the UAE excise tax laws, which include registration, return filing, voluntary disclosure, and many others. However, the Federal Tax Authority always updates the new reporting requirements for excise tax compliance in UAE. That’s the reason companies recognize it is critical to perfectly implement the excise tax laws and regulations. Our tax consultants in Dubai will assist you with the changing regulatory landscape of FTA.

Excise Tax Law In UAE

In accordance with the Federal Decree-law No.7 of 2017, businesses have to register themselves if they deal with excisable products in any Emirate. It includes electronic smoking devices, tobacco, carbonated drinks, energy drinks, etc. The FTA requires all taxable entities to comply with their excise taxes in UAE. The government is constantly updating tax laws in order to be one step ahead in the entire process. In order to imply UAE tax provisions, the FTA auditors will anytime investigate your excise records’ accuracy and compliance.

What Is Meant by Excise Tax Compliance?

The excise tax compliance simply means to assure the excise records are compliant with the local tax obligations. The Federal Tax Authority is responsible for tax collection and calculation in all the Emirates the UAE. The relevant regulatory authorities will verify your excise registration, declaration, and return filing according to the stipulated tax period. The proper handling of your excisable goods will make you exempt from non-compliance penalties from the FTA.

Ultimate Goal of Excise Compliance

The ultimate objective of excise tax compliance in the UAE is to prevent business accounts from heavy fines by FTA. The governing tax authority will subsequently impose penalties on an entity that fails to comply with excise tax laws. It is levied due to incorrect registration, late return filing, submissions of invalid documents, or other information. FTA is highly strict in charging non-compliance excise tax sanctions. Therefore, it is advisable to hire professional consultants for excise tax services in UAE and make sure all required compliance obligations are fulfilled.

Why Do Companies Find It Difficult To Stay Compliant In UAE?

The tax authority in the United Arab Emirates constantly changes laws and regulations to attract investors to the country. The UAE government has done this to beat the worldwide business competition. But, this makes it intricate for businesses to be in top of compliance with the tax provisions. Entities get confused about what is the right time to register, did they cross the threshold limit, which is the right frequency to submit the excise return filing in UAE, and so on. This is because yesterday’s Excise Compliance may not be the same as today. For successful excise tax implementation, always determine the FTA guidelines.

What Do You Get In Our Excise Compliance Service?

Excise Tax compliance in UAE is a critical process that has significantly changed to save the country from the harmful effect of excisable products. While managing your excise tax records, our tax consultants emphasize a number of factors. Let’s discuss our excise compliance service which includes:

Perform Excise Tax Assessment

The excise tax assessment is the process of determining the value of excisable goods. This includes the calculation of the excise tax amount as per the excise tax rate. The assessment of taxes is important because even a slight error in the calculation can result in losing your tax records. Expert excise tax consultants at BestaxCA handle and calculate the amount of tax due to the government in an efficient manner leaving zero margin for mistakes. We dedicatedly help individuals and corporations to help them with excise tax compliance.   

Timely Submission Of Excise Returns

An Excise Tax return filing must be accurately submitted to the FTA for each tax period. A registered entity that fails to file an excise return on time will not only attract fines but also lose the company’s reputation. Our tax consultants assure the correctness of your return filing and submit them under the specified deadline. We submit your statutory returns along with the declarations to ensure the transparency of excisable goods.

Amendments In Your Excise Tax Record 

The excise tax record should be updated and accurate to keep away FTA sanctions. The registered entities may encounter difficulties in registering for excise tax, filing returns, and receiving refunds due to poor tax record maintenance. If you are facing a similar situation, you can consult with our tax experts in Dubai. Our team maintains and amends your records as per the tax laws, so take our best services for excise tax in UAE.

Review All Excise Related Information

The most significant thing for excise tax compliance is the accuracy and validation of your excise documents and other related information. A minor mistake or omission in the details may lead to fines and penalties. That’s why our tax experts in Dubai review and prepare all your supporting documents as per the FTA guidelines, so you can avoid unexpected non-compliance issues.

Provide Advisory On FTA Notifications

In order to remain compliant with UAE excise tax laws, every taxpayer must stay up-to-date with the authority’s amendments. However, a business person may find it too challenging due to a lack of knowledge and time. Our tax advisors have continually updated themselves on excise tax notifications obtained from the Federal Tax Authority. We assist entities by solving their complex tax-related queries and procedures.

Outsource Excise Consultancy In Dubai

BestaxCA is a licensed accounting and tax consultancy firm in Dubai. We understand the importance of excise tax compliance in this fast-growing market of the UAE. Our tax advisors help businesses with professional excise tax services as per the tax procedure laws. You will be glad after getting our excise/ VAT services in any part of the Emirate. Just contact us and let us know how we can help you!

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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

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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

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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!

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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