Excise tax is a form of indirect tax levied on specific goods that are harmful for health or the environment. Such goods can include carbonated drinks, energy drinks and tobacco products.
Our excise tax services include:
An importer, producer, warehouse keeper or stockpiler are required to register for excise should they deal in any excisable product listed on the FTA website. We advise on the requirements for excise registration with Federal Tax Authority and simplify excise registration.
Excise Impact Assessment
Our professionals review inventory movement, export, and specific transactions (i.e., loss, damage, waste) to determine the excise tax applicability to businesses. We advise on the excise tax accounting and record keeping staying compliant to regulations.
Excise Return Filing
A registrant is required to file excise return on the 28th day following the end of tax period. Excise return filing requires a review of accuracy, completion, valuation and the cut-off of inventory, sales, purchases and production losses as per the provisions of the law. We offer preparation, review and submission service for excise returns.
Excise Tax Audit
Our professionals perform detailed reviews of business operations to ensure periodic records are maintained as per standards and excise declarations are submitted within the stipulated time to avail the benefits of tax deductions.
Excise Tax Advice
We assist in understanding the tax implications on specific business situations as the tax regime, laws and regulations continue to evolve and impact new and ongoing transactions.
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