Excise tax was introduced across the UAE in 2017. Excise tax is a form of indirect tax levied on specific goods which are typically harmful to human health or the environment. These goods are referred to as “excise goods”. When considering whether a product is an excise good, the following definitions apply:
From 1 December 2019, the excise tax will be levied also on:
The rate of the excise tax is as follows:
There are a few things you should know. First, the excise duty is a tax that is levied on certain goods that are considered harmful to society, such as tobacco and alcohol. The amount of excise tax you will need to pay will depend on the type of goods you are selling and the country you are selling them in. In order to start your own excise consultancy, you will need to have a good understanding of the excise tax system and how it works. You will also need to be familiar with the different types of goods that are subject to excise tax. Finally, you will need to have a solid business plan in place in order to be successful.
Excise consultancy is the process of providing expert advice to businesses on Excise-related matters. This can include advising on tax planning, compliance, and risk management. Excise consultancy often has a deep understanding of the Excise regime and can provide valuable insights to businesses on how to best navigate the Excise landscape. If your business is looking for support on Excise-related matters, then engaging an Excise consultancy may be the right solution for you.
Forthright Consultancy is a leading provider of excise consultancy, bookkeeping services, withholding tax, VAT consultancy, audit services, and more. We also offer a variety of other services, such as tax planning, corporate tax, and individual tax. We have a team of experienced professionals who are dedicated to providing our clients with the highest quality of service. We are proud to have a reputation for excellence and integrity, and we are committed to providing our clients with the best possible service.
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