Excise tax consultancy in UAE is meant to assist businesses in understanding and complying with the country's taxation rules for goods and supplies that come under Excise Tax. Understanding the rules for establishing the amount payable for excise taxes can be difficult for businesses operating in these highly regulated areas.
Many firms now outsource their tax compliance Excise Tax Advisory which specializes in advising on tax liabilities for various products and services available in the UAE market to ensure compliance with all legal duties connected to the payment of excise taxes in Dubai.
Excise Tax in the UAE
Excise Tax is a type of indirect tax levied on specific goods and services to ensure they pay their fair share of taxation. It is a type of consumption tax levied on specific commodities such as tobacco, carbonated drinks, or alcohol. There are numerous questions about the excise tax and how it is calculated nowadays.
A business cannot handle every process of a business on its own. The reason is, there are different types of experts required for every section, especially in Financial aspects when it comes to UAE. Hence outsourcing such financial complications to the appropriate and accredited Tax consultants in UAE is the right move.
Excise Tax Consulting Services in Dubai, UAE
When handling Excise Tax, we have a specially curated Excise Tax Consulting in UAE provided by our excise tax consultants. BMS Auditing is the FTA-approved Tax agency to offer Excise Tax consultancy with talented consultants providing registration, return filing and compliance. The following are the services included in excise tax consultancy UAE,
Excise tax registration
Anyone planning to operate a business in the UAE that produces, imports, or stores excise goods is required to register for excise tax.
Every business cannot engage in any transaction involving excise items until it is registered for excise tax in the UAE. Businesses are often required to register for excise tax in the UAE even if they are not producers or importers of excise items. We are prominent providers of accounting and auditing services in the UAE, providing smooth services for Excise tax registration in the UAE.
Excise Tax Planning
Excise tax registration and payments can easily be confusing for business owners. To help alleviate the stress and make the process easier, we have professionals to assist in planning for excise taxes and preparing the necessary documents needed to register for excise taxes.
Then, you can apply for the excise tax return filing process. We assist our clients in obtaining the finest practical knowledge possible to assure compliance while minimizing excessive costs, supply chain disruption, and reputational damage.
Excise Tax Advisory
We are one of the top tax consultancy services in the UAE. We have built a market presence as VAT advisors and also have professionals with extensive knowledge and practical expertise in Excise Tax. We can help you through excise tax advisory services, file Monthly Returns, register your items with the Federal Tax Authority, and provide compliance advice under UAE Excise Tax Law.
Excise Tax Training and Awareness
All staff must get extensive training to ensure error-free compliance before, during, and after the transition to Excise Tax.
Because there will be numerous updates in indirect tax rules, it is recommended that a proper training programme for concerned personnel be implemented during the initial term to ensure greater compliance.
The procurement team are trained to consider tax aspects while identifying vendors, presenting the benefits of registering to vendors, and guiding them to submit returns on time so that credit is not lost. This can significantly assist the accounting and finance functions in meeting their duties.
Who should register for excise tax?
Any business involved in the following procedures must register for excise tax within 30 days of the business's opening or the effective date of the law, whichever comes first:
- Excisable goods importation into the UAE
- Producing excise items for UAE consumption
- Stockpiling of excise products in a specific case
- Excise warehouse supervisor
Because our way of life is based on a variety of products, the following items must be registered for excise tax:
- Except for unflavored aerated water, carbonated drinks and any aerated beverage.
- Energy drinks are any beverages marketed or sold as energy drinks and contain stimulant ingredients that provide mental and physical stimulation, such as caffeine, taurine, ginseng, and guarana.
- Tobacco and tobacco-related products
Excise tax consultants in UAE
Throughout the tax life cycle, we assist in identifying risk areas and long-term planning opportunities for indirect taxes. Excise tax consultancy in UAE is provided in strict accordance with the norms and regulations of approved agencies. Our Excise Tax consultants in UAE provide you with effective practices to help you enhance your day-to-day indirect tax reporting, minimizing costs, and attribution errors, and ensuring indirect taxes are handled effectively.
Our Excise Tax Consultants team can assist you with managing excise declarations, auditing and reviewing product categories and evaluating import/export documentation. BMS auditing offers you the insight and assistance required to successfully and efficiently manage indirect taxes. We can manage any central excise issues/matters on a wholly outsourced basis.
1. What are the excise tax rates in UAE?
- 100% for tobacco and tobacco products, and 100% for liquids in electronic smoking devices and instruments
- 100% for legal electronic smoking devices and tools 50% off carbonated beverages
- 100% for energy drinks and 50% for sweetened drinks
2. What exactly is a Designated Zone?
Any gated area designed to be a free zone that may only be accessed or exited through an authorized route, as well as any place defined by the Authority as being under the authority of a Warehouse keeper, is considered a designated zone.
3. What is the registration threshold for excise registration in the UAE?
Currently, there is no necessity to register for Excise tax. However, if the FTA is convinced that the person does not regularly import excise items or release excise goods from designated zones, he may be excluded from registration.
4. What items are exempt from excise tax?
Ready-to-drink beverages containing at least 75% milk, infant food, beverages used for dietary reasons, and beverages consumed for medical purposes are all free from excise tax. Typically, products are taxed during their release or usage time. In this case, the excise duty will be levied on the producer, maker, or importer of the excise items.
5. Are Excise Tax refunds available?
Unlike VAT, the Excise tax is paid just once in the supply chain, and enterprises that have acquired excise goods cannot get a refund of the excise tax paid.