What Do We Offer at MBK Auditing?

• Filing of excise returns
• Give stockpiling advice
• UAE excise tax registration and de-registration
• Advise on duty calculations and stock/inventory counting.
• Continuous services for filing excise duty returns and compliance
• Tax Agent Excise Duty Consulting on the Most Recent FTA Starstorm Amendments and Updates
• In order to determine the product listing and classification for a qualifying registration, quickly study the Entity.

At MBK Auditing, we offer you expert-level professional services, assisting you in expediting and simplifying the legal process for your business.

Products on Which Excise is Applied

• Aerated beverages, with the exception of flavourless aerated water, are classified as carbonated drinks. Any concentrations, powders, gels, or extracts meant to be turned into an aerated beverage are also regarded as carbonated drinks.
• Caffeine, taurine, ginseng, and guarana are just a few examples of stimulant ingredients that are included in beverages promoted or sold as energy drinks and that provide both mental and physical stimulation. This also applies to any substance that functions in the same way as any of the compounds listed above. Any concentrations, powders, gels, or extracts meant to be combined into a beverage with added energy are also regarded as energy drinks.
• Everything that is included in Schedule 24 of the GCC Common Customs Tariff is considered tobacco and tobacco products.
• Tools and devices for electronic smoking
• Liquids utilised in electronic smoking instruments and devices
• sweetened beverages

Tax Compliance and Penalties

• The FTA is allowed to audit enterprises that are subject to taxes and then fine those that don’t follow the law.
• The excise list’s taxable items can be easily identified by their item codes, and the FTA’s database is directly connected to the customs department.
• Suppose importers are not registered with the FTA. In that case, they will not be able to clear any of the taxable items through customs after excise duties on the recently added items are implemented.
• A Dh20,000 fine is imposed for failing to register for excise duty before the deadline.
• A Dh20,000 fine may be incurred for failing to report excess existing stocks of taxable items as of December 1, 2019, prior to January 15, 2020.

Documents Required for Excise Tax

• When applying for excise tax, a candidate must submit the following information:
• Information about the applicant (name, legal status, and other legal specifics)
• Information about banking, business activities, and associated data
• Details of Customs Registration
• Contact Information
• Proclamation

Call us at MBK Auditing for excise services in Dubai.