In the UAE, excise tax is a form of indirect tax levied on specific goods considered harmful to public health or the environment. These goods include tobacco products, energy drinks, and carbonated drinks. Any business that imports, produces, or stockpiles these goods must register for excise tax with the Federal Tax Authority (FTA). The registration process involves submitting an application online through the FTA’s e-services portal and providing details such as business information, contact details, and financial information. Once registered, businesses must comply with excise tax laws, including maintaining proper records, submitting regular tax returns, and paying the tax due on time. Failure to comply with excise tax regulations can result in penalties and fines.
Determine if Your Business Needs to Register
The first step is to identify whether your business deals with excise goods, such as tobacco products, carbonated drinks, energy drinks, electronic smoking devices, and liquids used in electronic smoking devices. If your business is involved in the production, import, storage, or distribution of these goods, you must register for excise tax.
Prepare Required Documentation
To register for excise tax, you will need to gather various documents, including:
– Trade license
– Certificate of incorporation
– Articles of association
– Passport copies and Emirates ID of the company’s shareholders, directors, and managers
– Authorized signatory documents
– Bank account details
Real Time Auditors and Accountants can help you prepare and review these documents, ensuring their accuracy and compliance with the FTA requirements.
Register Online with the FTA
To register for excise tax, you must complete the online application form on the FTA’s e-services portal. The form requires information about your business, such as contact details, financial data, and details of the excise goods you deal with. Real Time Auditors and Accountants can guide you through this process and help you submit a complete and accurate application.
Review and Approval
Once your application is submitted, the FTA will review the information provided and may request additional documentation or clarification. The review process can take up to 20 working days. Real Time Auditors and Accountants can assist you in addressing any queries or requests from the FTA to expedite the approval process.
Obtain Excise Tax Registration Certificate
Upon approval of your application, the FTA will issue an Excise Tax Registration Certificate, along with a Tax Registration Number (TRN). You must display your TRN on all excise tax-related documents, including invoices, tax returns, and correspondence with the FTA.
Excise Tax Consultation
Real Time Auditors and Accountants provide expert consultation services to help businesses understand their excise tax obligations and determine whether they need to register for excise tax.
Documentation and Registration Assistance
Their team of professionals assists businesses in preparing the necessary documentation and submitting accurate registration applications to the FTA. They also provide support throughout the review and approval process.
Compliance and Reporting Services
Real Time Auditors and Accountants help registered businesses maintain compliance by assisting with the filing of excise tax returns, payment of taxes, and maintaining accurate records of excise goods transactions.
Training and Education
To ensure businesses are well-equipped to handle their excise tax obligations, Real Time Auditors and Accountants offer customized training programs that cover the fundamentals of excise tax, registration requirements, and best practices for compliance and record-keeping.
Excise tax registration in the UAE is a crucial process for businesses dealing with excise goods. Real Time Auditors and Accountants offer comprehensive services to support businesses throughout the registration process and ensure ongoing compliance with the FTA requirements.