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Excise tax advisory services in Dubai.

The Ultimate Guide to Excise Tax Advisory Services in Dubai

The UAE government levies an indirect tax known as excise duty on the sale, acquisition, and manufacture of specific products and services. Both the environment and human health are harmed by these goods. A domestic tax called excise duty is imposed to limit the use of these products and generate money for social welfare.

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To avoid paying hefty fines, businesses in the United Arab Emirates pay close attention to excise requirements. CPA assists you with excise duty registration and compliance monitoring to guarantee that your firm is legitimate in the cutthroat UAE market and getting the best excise tax advisory services in Dubai. To assist businesses with tax audits and payment, CPA, one of the top accounting and bookkeeping firms, provides excise tax advisory services in Dubai.

You may verify that the reported excise tax due is accurate and submitted to the authority by the deadline specified by the tax authority by using suitable tax consulting services. In Dubai, registration for excise duty is now necessary for all excise enterprises. In compliance with UAE excise rules, CPA is a group of chartered accountants and auditors that provides effective excise tax advisory services in Dubai.

All About Our Excise Tax Advisory Services in Dubai

Since the UAE implemented an excise tax in 2017, anybody selling certain items that are deemed to be damaging to the environment and human health is required to pay a fee to the government. Products falling under the excise goods category, such as cigarettes, energy drinks, carbonated beverages, etc., are subject to the excise legislation. The Federal Tax Authorities (FTA), who are in charge of excise compliance duties in the United Arab Emirates, are in charge of enforcing excise regulations in the UAE. On October 1, 2017, the FTA went into effect, bringing the UAE Excise Duty Law into effect.

Although not all items are subject to excise duty, according to government laws, products that have an impact on living things and the environment are liable to a certain level of tax. This comprises of:

Consulting rates for excise duty

As you know, the consulting rates for excise duty vary according on the product. In line with UAE Cabinet Decision No. 52 of 2019, the following items are subject to excise duty rates:

  • 50% for drinks with carbonation
  • For tobacco products, 100%
  • 50% for drinks with added sugar
  • 100% for electronic smoking tools and gadgets
  • For energy drinks, 100%
  • 100% in favor of electronic cigarette use
  • All liquids used in the following equipment and tools are 100%
  • 50% for any product with additional sugar or sweeteners.
  • All liquids used in e-cigarettes are 100%

Key Benefits of Excise Tax Advisory Services

Excise taxes are levied to both collect money for the government to spend on useful public services and to limit the use of unhealthy and dangerous goods. In the end, customers will have to pay more for products that are bad for the environment or human health.

It is crucial for you to be aware of the excise tax rates if you run a company that produces or sells any of these goods. There might be severe fines if the tax laws are broken. You may get assistance navigating the complicated world of excise taxes from our Excise Tax Advisory Services in Dubai, and we’ll make sure you abide by all applicable laws and regulations.

By utilizing all of the allowable exemptions and deductions, we may also assist you in reducing your tax obligations. Our team of professionals can offer you the finest answer because they have a lot of expertise addressing excise tax issues.

Excise Tax Advisory Process

The following companies should register with FTA and adhere to UAE excise tax regulations:

  • Manufacturers of excisable products
  • importers of excise tax
  • Storehouse Keeper for Excise
  • UAE stockpilers

Denouement: The regulations governing excise taxes in the UAE are intricate and dynamic. In order to maintain compliance, it is crucial for firms to obtain professional counsel. This is where our Excise Tax Advisory Services in Dubai can assist you by giving you quick and pertinent assistance. By utilizing all of the allowable exemptions and deductions, we may also assist you in reducing your tax obligations. To find out more about how we can assist you with your excise tax responsibilities, get in touch with us right now.

excise tax advisory services in dubai

Advisory Services in Dubai

Only the FTA site is used for electronically filing and paying excise tax returns.The taxable person is needed to submit the appropriate declaration form from the list below within 15 days after the end of each tax period in order to file an excise tax return:

  • Form for Import Declaration of Excise Tax
  • Form of production disclosure for excise tax
  • Release of Excise Tax from Designated Zone without Need for Customs Clearance Declaration Form
  • Deductible Form for Declaring Excise Tax

Prior to submission, the taxable person should verify the information supplied. They should then submit the excise periodical reports, pay the excise tax due 15 days after the end of the month, and keep documents related to the excise tax.

A taxable person has the right to request a refund of any excess refundable tax when filing an excise return and the amount of deductible tax exceeds the amount of excise tax due.

Why Choose CPA For Excise Tax Advisory Services

Professionals from the CPA examine Excise Tax data, returns, and reconciliation and guarantee that Excise Tax returns are submitted on time for the FTA’s Excise Tax Audit. Experts at CPA can assist you in keeping your tax records up to date and in compliance with the law so that you may avoid fines, save money, and exert less effort.

With comprehensive excise tax advisory services in Dubai and assistance with excise tax registration, our tax professionals assist and direct businesses in adhering to the law. We can guide you through the tax process and, by offering better tactics, aid in the expansion of your company.

We supply you with a comprehensive range of services through our skilled, committed, and professional team of service providers. Our staff members work tirelessly to give you a hassle-free consultation and provide top-notch excise tax advisory services in Dubai.

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CPA provides a range of excise tax advisory services in Dubai, such as tax planning, document verification, evaluation of tax computation, etc. The excise tax consulting services provided by CPA are listed below:

Advisory & Planning for Excise Tax

Professionals from CPA assist our clients in managing excise taxes and educating them on ways to lessen their effects.

Checking all of the paperwork

All documentation pertaining to excise items are verified by CPA professionals, who also assess whether the paperwork is being preserved in accordance with UAE tax legislation.

Calculation of Tax Assessment

The tax estimated by the taxable individual will be examined by CPA specialists, who will assure its accuracy.

Performer Stock Number

Professionals from the CPA will conduct a stock count on a certain day to confirm the correctness of the physical inventory kept by the taxable person.

Support services for registering for excise taxes

Professionals from CPA provide our clients limitless assistance so they may be guided smoothly through the whole tax registration process.

Services for Complying with Excise Tax

Experts from the CPA will review any tax-related paperwork to see if it is tax-compliant or not before taking further action.

FAQs Exice Tax Advisory Services in Dubai

The 2017 excise tax is an indirect tax solely levied on "excise items," which include carbonated beverages, energy drinks, tobacco, and its byproducts. Both persons and the environment are harmed by these products. Additionally, there is an excise duty on beverages with added sugar, electronic cigarette equipment, and liquids.

Following businesses are liable to register for excise tax:

  • import specific commodities into the UAE,
  • produce and distribute these excise items for consumption in the UAE,
  • occasionally stockpile in the UAE, and
  • are warehouse keepers in charge of overseeing the relevant warehouse or zone.

According to the decisions that were made by management, businesses will be required to make appropriate adjustments to their rates.

When there is a penalty for failing to submit an excise duty return, it signifies that there has been at least 20 working days after the filing should have been submitted. The taxpayer is required to pay the excise duty penalty on the items starting on the original due date under the current revised regulations. The Federal Tax Authorities may impose penalties and fines of a specific amount for failure to submit the excise duty return on time (FTA)

The following categories of products are liable to pay an excise tax:

  • tobacco products.
  • energy and carbonated soft drinks; and
  • commodities that serve a particular function.

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