Excise Tax Return

Excise Tax Returns are required to be submitted monthly by entities registered for excise tax. As excise tax returns are technical and require knowledge and experience of the application of the law, therefore, these needs to be filed very diligently in order to avoid penalties which error prone returns attract at the time of inspection by Federal Tax Authority.

Excise tax experts in Virtual Accountants (VA) are qualified tax professional having experience of providing excise tax consulting in UAE as well as in their native countries. We always apply due diligence before entering in to contracts so that we can deliver on expectations and remain proud of our services and professionals. Our methodology in delivering the excise tax return filing service is as follows:

  • Understanding of the entity and its environment to understand the supply chain process of the excise goods and to ensure that they form part of our excise tax return
  • Review of the stocks at the reporting date and ensuring that all excise relating to the goods in stock are accounted for in the return
  • Considering the prices and percentages of excise tax as provided by the Authority in calculating the excise tax per our workings
  • Multiple reviews of the items entering and leaving the stock for excise tax to ensure that monthly returns incorporate all the components in the stock
  • Ensuring that the guidance provided for stock pilers by the Authority are well complied with by the entity under consideration
  • Ensuring that returns are filed and paid on time to avoid penalties from the Authority.