Excise Tax required in your business?
Here’s how you can find out.
According to UAE Federal Decree Law No. 7 of 2017 on Excise Tax, it is the responsibility of any business engaged in the following activities to register for excise tax:
• the import of excise goods into the UAE
• the production of excise goods where they are released for consumption in the UAE
• the stockpiling of excise goods in the UAE in certain cases
• anyone who is responsible for overseeing an excise warehouse or designated zone i.e. a warehouse keeper.
Always remember.
Please let us know if you require assistance with Excise Tax from our expert team.
This is intended to assist registrants in meeting their tax obligations.
• The Decision has been in force since June 28, 2021.
• The decision lowers several administrative penalties for tax law violations after June 28, 2021.
• The Decision allows registrants who were penalized prior to the Decision’s effective date to benefit from a penalty redetermination scheme in which they would only be required to settle 30% of their payable administrative penalties outstanding on June 28, 2021, subject to meeting the requirements specified in the Decision.
Don’t be concerned about it or its procedures. We can be reached by just one phone call.