An excise tax is a type of indirect tax that is imposed on specific goods that are deemed harmful to society, such as tobacco products and energy drinks. The purpose of the excise tax is to reduce the consumption of these goods and discourage their use, while also generating revenue for the government.
These goods are taxable if imported to the UAE, produced, or stored in the UAE. This tax is only charged on products that are hazardous to people or the environment. The ultimate purpose of this tax is to mitigate the consumption of such goods to prevent unhealthy activities.Incertain contexts, the goods would be physically labeled to show that excise taxes were paid to the government.
Excise tax registration in the United Arab Emirates (UAE) is the process by which businesses or individuals engaged in certain activities or selling certain products are registered with the Federal Tax Authority (FTA) and are required to pay excise tax on those products. An excise tax is a tax on certain goods that are considered harmful to public health or the environment, such as tobacco, sugary drinks, and energy drinks.
Registered businesses must file excise tax returns on a regular basis and pay the tax due on their excise goods. Failure to register for excise tax or to pay the tax due can result in penalties and fines imposed by the FTA. Our Excise Tax Consultants in UAE help you to register, submit audit and file your tax returns effectively with 100% compliance through the best Excise Tax Advisory Services. Excise Tax is calculated based on the excise price. The excise price is the higher of the price published by the FTA in a standard price list if available and the designated retail sales price for the excise good less the tax included therein.
All enterprises involved in the following activities must register for Excise Tax: – • Companies involved in the import of excise items into the UAE.
Companies engaged in the manufacturing of excise items for consumption in the UAE
In some situations, companies engaged in the stockpiling of excise items in the UAE
A warehouse keeper is in charge of an excise warehouse or designated zone.
Passport copy of the manager, owner, and senior management
