Regular Excise Tax Health Checks to Tackle Regulatory Challenges
The UAE introduced excise tax in 2017 on specific products, and in 2019, the tax was expanded to cover more items. This shift has impacted businesses significantly, affecting their margins, pricing, cash flows, documentation, bookkeeping, IT systems, product demand, contract terms, and compliance requirements.
It’s essential for companies to first determine whether excise tax applies to their products. If so, they need to meet various requirements, such as filing returns, making representations to governing bodies, and analyzing the overall impact of the tax on their business.
Smart Business Creation conducts comprehensive excise tax health checks to ensure your products’ taxability and compliance with excise tax regulations. Our experts ensure that your business stays on the right side of the law.
What are Excise Goods in the UAE?
Excise tax is applied to goods considered harmful to human health or the environment. The following goods are subject to excise tax in the UAE:
| Excise Goods | Tax Rate |
|---|---|
| Tobacco and tobacco products | 100% |
| Electronic smoking devices and tools | 100% |
| Liquids in electronic smoking devices | 100% |
| Energy drinks | 100% |
| Carbonated drinks | 50% |
| Sweetened drinks | 50% |
Stay Compliant and Avoid Penalties with Smart Business Creation’s Excise Tax Health Check Services
Ensuring the taxability of products and maintaining compliance with excise tax regulations can be complex for businesses. Unannounced tax audits can add further complications, and presenting incorrect data can result in significant fines or penalties.
To avoid these risks, it’s crucial to get professional guidance that helps protect your margins and your business.
Smart Business Creation offers regular excise tax health checks conducted by our team of excise tax specialists. With years of experience, our dedicated experts review all your business information to ensure it’s accurate and compliant with the Federal Tax Authority (FTA).
We help your business stay prepared for unannounced audits and ensure your documents are always updated. By partnering with us, you can ensure smooth operations and avoid penalties.
Why Choose Smart Business Creation for Excise Tax Health Checks?
- Expert Guidance: Our team of experienced excise tax specialists ensures that your business meets all regulatory requirements and stays fully compliant.
- Accurate Documentation: We review and update your records to ensure they are accurate and complete, helping you avoid fines during audits.
- Proactive Compliance: Regular health checks ensure that you are always prepared for any unannounced tax audits and that your business runs smoothly.
Contact Smart Business Creation Today!
Don’t wait until it’s too late—schedule a consultation with Smart Business Creation to stay compliant with excise tax regulations and protect your business from penalties. Let our experts guide you through the complexities of excise tax compliance, so you can focus on growing your business.
