Effective in the UAE since October 2017, excise tax which is an indirect tax was imposed on specific goods that are considered harmful to the environment and to humans. Such goods are taxable if they are imported, produced or stockpiled in the UAE. No registration threshold applies for excise tax. Only once a company is registered for excise tax, can they engage in any excise good transactions.
Excise tax and their specific rates apply to the goods below:
A person must register and pay excise tax if they are involved in the following activities:
Providing invaluable insights, our Excise Duty Advisory services offer strategic counsel on navigating complex regulations, optimizing compliance, and mitigating financial risks associated with excise duties.
Incorporating excise duty considerations into product pricing strategies is essential for businesses to maintain competitiveness while adhering to regulatory requirements.
"Conducting meticulous excise duty assessments ensures compliance, accuracy, and strategic planning, mitigating potential risks for businesses operating in regulated industries.
Empowering businesses with tailored excise duty training enhances internal capabilities, fostering a proactive approach to compliance and strategic decision-making.
"Careful consideration of excise implications on transactions is crucial for optimizing financial outcomes and ensuring compliance with regulatory frameworks."
Excise Duty Compliance involves adhering to regulations, ensuring accurate reporting, and fulfilling obligations related to the production, import, and sale of excisable goods, maintaining regulatory compliance within the specified legal framework.
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