UAE Excise Tax
Federal Tax Authority (FTA) defines excise tax as a form of an indirect tax that is levied on certain goods which are considered harmful to human health and the environment. These include carbonated drinks, energy drinks, tobacco, tobacco products. Excise tax was introduced in UAE from 1st October 2017.
With the excise tax laws in effect, the producers, importers, and stockpilers of excisable goods will be required to register with Federal Tax Authority (FTA). FTA has the power to review the tax invoices of a taxable businesses and impose a penalty on those who are found not in compliance with the Excise law. Earlier UAE excise tax was levied on products like tobacco, carbonated drinks and energy drinks. W.e.f. December 1, 2019 Electronic smoking devices and tools and Sweetened drinks will be also chargeable to excise tax in UAE.
Therefore, it is mandatory for businesses dealing with excise goods to register under the system of excise taxes in the UAE. Starting 1st December 2019, all businesses that are directly or indirectly dealing with excise goods will be affected by the revised laws on excise tax.
For the businesses to get easy assistance on the registration of excise tax in UAE, Shuraa Tax Consultants and Accountants are there to provide a one-stop solution to your registration problems. We have a team of highly qualified and professional tax agents and consultants, coming from diverse sectors such as legal, finance, accounting, and commerce. They are well-versed with the Federal Tax Authority’s levied laws and therefore use their apt knowledge to provide quick assistance and support to businesses who are in need.
Our efficient team of advisors and consultants make sure to cater to all your financial requirements and taxation needs. Through our efficient services, we ensure your adherence to the VAT obligations and Tax compliance to UAE VAT laws as per the FTA’s rule. Speak to our tax advisors and get the best professional help under affordable prices.