Excise tax is referred to as a kind of indirect tax charged on specific goods that are found to be harmful to human health or the environment. Such goods include carbonated drinks, energy drinks and tobacco products.
For all those people who are worried about the registration under VAT in UAE the Federal Tax Authority has now introduced an official Tax Website which enables to know about VAT in the UAE and through this portal, eligible businesses can register for VAT in the UAE.
The United Arab Emirates (UAE) has revealed details about the new excise tax due to be imposed on tobacco, and energy and fizzy drinks.
The following given groups must need to register for Excise Tax in the UAE.
The rates of excise tax in the UAE will be:
Excise tax has been launched across the UAE in the fourth quarter of 2017.
There is no registration threshold for registration; therefore, any corporation who wants to be involved in any of the activities listed above must register before the date of introduction, i.e. 1 October 2017, and account for excise tax.
The primary objective behind levying excise tax is to bring down the consumption of harmful and injurious commodities while also increasing revenues for the government that can be used on worthy public services.
