Excise tax Health Check

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Excise Tax Health Check in UAE

Since 2017, The UAE has introduce Excise Tax Health Check on definite types of goods. 

 All register organization are requir under the FTA to check whether their excisable goods are taxable and to compliance with other tax obligations. This is Main to remember as the authorities can call you whenever they want to carry out an excise duty audit. If FTA auditors find non- comply, the taxpayer can be fined heavily.                                                                                                                                                                                                                            

Why is a pre-audit tax health check important?

That is why our  will provide you with a  Expert service. By taking these  safety measure, companies can avoid FTA penalties in the future. An excise audit is a review and confirmation of a register legal entity’s tax compliance. It is carrie out to verify that the taxpayer s excise tax liability. This  is correct and has been duly paid within a specific period of time.

How does the FTA decide meteorology to carry out an excise audit?

The Federal Tax Authority Recognize companies for excise tax audits. but there are no specific criteria. It is entirely the FTA’s decision as to what will be audit and at what interlude. They can inspect a taxable business entity at any location or at any time for a formal tax audit. The relevant authority will usually take action against a company. if it suspects that there is any risk, error, or tax evasion in the accounts.

How to prepare for an excise audit?

The FTA sends five days’ notice to the taxable business of the excise duty perusal. Although in cases where tax evasion is suspect, auditors pay a shock visit to the company. They usually fix the place and time It is recommend that your lawful representative. This is present to assist the FTA auditors throughout the procedure. The auditors may ask you to supply original or copies of excise documentation. The evaluation is mostly Carri out on working days. if the company fails to meet its tax duty in the first round under the  Excise Tax Health Check Procedure Law.

Why is Excise tax Health Check  important?

This pre-assessment analyses potential tax issues. Recognize areas of non-compliance with  Excise Tax Health Check and Tax Refunds need and identifies business uncertainties. Your excise records should be rectify before the auditor examines them to eliminate mistake or omissions. Otherwise, the UAE regulatory authorities will punish your business account. We will conduct   assessment of your excise data to eliminate any potential errors.  

MANDATORY REGISTRATION

Any business in the UAE that meets the below criterion must register,

  • The total value of their taxable supplies made within the UAE exceess the mandatory registration threshold over the previous 12 month period, or
  • They anticipate making taxable supplies with a value exceeding the mandatory registration threshold in the next 30 days.
  • The mandatory registration threshold is AED 375,000
VOLUNTARY REGISTRATION

Any business in the UAE that meets the below criterion MAY register (and does not fall under Mandatory Registration threshold),

  • The total value of their taxable supplies or taxable expenditure in the previous 12 months excees the voluntary registration threshold, or
  • They anticipate that the total value of their taxable supplies or taxable expenditure will excees the voluntary registration threshold in the next 30 days.
  • The voluntary registration threshold is AED 187,500.
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