Entities registered for excise tax must submit monthly Excise Tax Returns. Given the technical nature of these returns and the need for expertise in applying the law, filing them diligently is crucial to avoid penalties during inspections by the Federal Tax Authority.
In JASM Accountants, our excise tax experts are seasoned professionals with qualifications and experience in excise tax consulting in both the UAE and their respective native countries. We prioritize due diligence before contractual commitments, ensuring we meet expectations and take pride in our services and professionals. Our approach to delivering excise tax return filing services is outlined below:
Our methodology for delivering excise tax return filing services involves:
- Gaining an understanding of the entity and its environment to comprehend the excise goods' supply chain process, ensuring their inclusion in our excise tax return.
- Reviewing stocks at the reporting date to account for all excise related to goods in stock. Utilizing prices and excise tax percentages provided by the Authority to calculate excise tax according to our workings
- Conducting multiple reviews of items entering and leaving stock for excise tax, ensuring comprehensive inclusion in monthly returns.
- Ensuring compliance with the Authority's guidance for entities stockpiling goods.
- Filing and paying returns promptly to prevent penalties from the Authority.