Effectively managing finances is a cornerstone of building and sustaining a successful small business. Unfortunately, many entrepreneurs unknowingly fall prey...
The excise tax will come into effect from 1st October 2017 under which all businesses dealing with the supply of excise goods will have to get registered for it. Goods that are considered unhealthy for human consumption and harmful to the environment are considered as excise goods. Businesses supplying such goods will have to complete their excise registration as per the FTA's guidelines. In case a firm is not registered for excise tax, it'll be subjected to heavy penalties.
Excise Tax shall be applicable on the following Excisable Goods in UAE:
Out of above, excise tax is applicable at 100% to Tobacco and tobacco products, Liquids used in electronic smoking devices and tools, Electronic smoking devices and tools (w.e.f. 1.12.2019)
Energy drinks. Carbonated and sweetened drinks are charged with excise duty of 50%
For UAE Companies, it's important to be compliant with the UAE excise tax laws and regulations not only to avoid fines but also to efficiently manage their tax planning and cash flows. To cope up with the challenges related to excise tax or any other related issue, We Shuraa Tax Consultants and Accountants can assist you with reliable advisory support from a tax agency.
Shuraa Tax Consultants and Accountants is a leading tax firm in Dubai which is leading its way through all the other tax agencies in the UAE by providing a wide range of accounting & taxation services
We are a team of committed professionals who are dedicated to providing you with exceptional tax management services to manage your business operations and excise planning in a more efficient and accurate manner Our highly qualified tax agents, advisors, consultants, and accountants promise to give you assured assistance on every aspect of financial difficulty that your company might face.
We are the best VAT consultant and tax consultant in UAE With our incredible tax advisory and tax consultant services, you can expect smooth tax planning. Get in touch with our FTA certified tax agents and advisors to get quick and affordable solutions to all your queries related to tax or VAT in UAE.
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