Understand Excise Tax Return Filing Requirements
Businesses registered for excise tax in the UAE are required to file tax returns and pay the tax due on a monthly basis. Excise tax returns must be filed electronically through the FTA’s e-services portal. Real Time Auditors and Accountants can help businesses understand their filing requirements and ensure compliance with the FTA regulations.
Calculate Excise Tax Due
Before filing the excise tax return, businesses must calculate the tax due on their excise goods. This involves determining the tax base, which is typically the retail selling price of the goods, and applying the relevant tax rate. Excise tax rates in the UAE vary depending on the type of goods:
– Tobacco products: 100%
– Carbonated drinks: 50%
– Energy drinks: 100%
– Electronic smoking devices: 100%
– Liquids used in electronic smoking devices: 100%
Real Time Auditors and Accountants can assist businesses in accurately calculating the excise tax due on their goods and ensuring proper documentation.
Prepare and File Excise Tax Returns
To file the excise tax return, businesses must log in to the FTA’s e-services portal and complete the relevant form, which requires information on the excise goods produced, imported, stored, or distributed during the tax period, as well as the tax due. Real Time Auditors and Accountants can guide businesses through this process, ensuring that the tax return is complete and accurate.
Pay Excise Tax Due
Once the excise tax return is filed, businesses must pay the tax due to the FTA within the specified deadline, typically within 15 days from the end of the tax period. Payments can be made through the FTA’s e-services portal using various methods, such as e-Dirham, credit cards, or bank transfers. Real Time Auditors and Accountants can help businesses make timely payments and avoid penalties for late payment.
Excise Tax Calculation and Documentation
Real Time Auditors and Accountants provide expert assistance in calculating the excise tax due on your goods and maintaining accurate documentation to support your tax calculations and filings.
Excise Tax Return Filing Assistance
Their team of professionals assists businesses in preparing and filing excise tax returns, ensuring compliance with the FTA regulations and avoiding penalties for late or inaccurate filings.
Tax Payment Support
Real Time Auditors and Accountants help businesses make timely tax payments and manage any issues or queries related to tax payments with the FTA.
Compliance Monitoring and Reporting
Their experts monitor businesses’ compliance with the excise tax regulations, providing regular reports and updates to help businesses stay informed and address any potential issues before they escalate.
Training and Education
Real Time Auditors and Accountants offer customized training programs to ensure businesses are well-equipped to handle their excise tax obligations, covering the fundamentals of excise tax, return filing 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.