Excise Tax – New Regulations and Analysis
Excise Tax – New Changes and Amendments in Executive Regulation Introduction On 28th November 2023, the Federal Tax Authority (FTA) – the tax governing body of the United Arab Emirates (UAE), published on its official website – Cabinet Decision 108 of 2023 issued by the Cabinet Ministers of UAE to amend certain provision of the […]
Regulations in Stockpiling and Price Advertising of Excise Goods
Regulations in Stockpiling and Price Advertising of Excise Goods Introduction In the complex world of taxation, businesses need to navigate a myriad of rules and regulations to ensure compliance. One critical aspect is the taxation of Excise Goods and the rules governing stockpiling. This article aims to shed light on the intricacies of tax payment, […]
Excise Tax -Understanding Liability to Tax for Excise Tax
Excise Tax – Understanding Liability to Tax Introduction In the realm of taxation, the allocation of responsibility for meeting tax payment requirements is a crucial aspect of governance. Cabinet Decision No. 108 of 2023 and Federal Decree-Law No. 7 of 2017 outline the specific provisions governing the liability to pay tax, delving into the intricacies […]
Excise Tax Scope, Calculation and Obligations
Excise Tax Scope, Calculation and Obligations Implementation and Extent of Taxation This Decree-Law’s provisions are applicable to Excise Goods as outlined by a Cabinet Decision proposed by the Minister. Taxation shall be levied on the following activities concerning Excise Goods: The production of Excise Goods within the State when such production is part of a […]
Annual Tax Updates 2023 GCC Region
Annual Tax Updates 2023 in GCC Region In 2023, significant tax updates and changes unfolded in the tax landscape across the GCC countries. The GCC region is known for its dynamic economic environment, with each country having its tax regulations and policies. Recognizing the importance of staying informed, here are the major tax updates announced […]
Registration for Excise Tax
Registration for Excise Tax Understanding the amendment on Executive Regulation of Federal Decree-Law No. 7 of 2017 on Excise Tax: Cabinet Decision No. 108 of 2023 In a move to refine the implementation of the Federal Decree-Law No. 7 of 2017 on Excise Tax, the United Arab Emirates (UAE) has introduced a significant Cabinet Decision. […]
Q3 2023 – GCC Tax News & Updates
Q3 2023 – GCC Tax News & Updates As part of our commitment to keeping you informed about the latest developments in the financial landscape, we are delighted to present our newsletter featuring tax highlights for GCC (Gulf Cooperation Council) countries. The GCC region is known for its dynamic economic environment, with each country having […]
Outlines rules for marking Excise Goods
Article 4 – Streamlining Mark Affixation Processes for Excise Goods Article 4 – Streamlining Mark Affixation Processes for Excise Goods In a bid to regulate and oversee the labeling of Designated Excise Goods, Article (4) establishes a meticulous set of procedures. This framework places responsibility on Importers, producers, and Authorized Suppliers, aiming for a seamless […]
Common Excise Tax Agreement of the States of the Gulf Cooperation Council (GCC)
Federal Decree-Law No. 7 Of 2017 for The Individual Engaging In Any Of The Activities Mentioned In Clause 2 Of Article 2 Of This Decree-Law Is Responsible For Paying The Tax Common Excise Tax Agreement of the States of the Gulf Cooperation Council (GCC) Compliance Requirements Article (11) Compliance on Import and Export An […]
Enhancing Control: UAE’s Decision on Marks for Designated Excise Goods
Enhancing Control: UAE’s Decision on Marks for Designated Excise Goods In a move aimed at strengthening regulatory oversight and ensuring compliance, the United Arab Emirates (UAE) has introduced a comprehensive decision concerning the marking of certain excise goods. The decision outlines the specific dates of availability of marks, fees for their purchase, secure storage protocols, […]
