Excise Tax Compliance Review

Excise Tax is a single-stage indirect tax imposed on specified goods. Members of the Gulf Cooperation Council (GCC) have executed the Common Excise Tax Agreement that entitles each member state to adopt a common Excise Tax system. Under the common Excise Tax system, member states are authorised to levy Excise Tax at different rates on goods deemed harmful to human health or the environment, as well as on luxury goods.

The Federal Tax Authority (FTA) rolled out a new electronic system for registering excise goods and new reporting requirements related to Excise Tax returns along with declarations to ensure the transparency and accuracy of every movement of excisable goods. Managing Excise Taxes and recognising opportunities to lessen their load on the overheads is crucial for all businesses.

We offers a wide range of Excise Compliance services that are responsive to the shifting regulatory environment for businesses looking to overcome their Excise Tax Compliance difficulties. Procedures for Excise Tax Compliance include filing tax returns and declarations. Based on the type of business transaction, a business must file Declarations in order to disclose and pay excise tax. Furthermore, based on the statements given for that tax period, Excise Tax Returns will be automatically filled up.

Our experienced team assists clients in managing Excise Tax and abiding by legal requirements. Our goal is to guard against non-compliance risks and ensure that our clients are never exposed to them.