What is the Process of Obtaining an Exit Certificate?
What is the Process of Obtaining an Exit Certificate? The Exit Certificate serves as proof that the shipment has fulfilled all the legal and administrative requirements and has complied with all the rules and regulations of the port authorities. It confirms that the goods have been inspected, cleared for export, and that all relevant taxes, […]
Designated Zones in the UAE
The New Excise Tax Public Clarification Announced by FTA on Designated Zones effective from 1st April 2023 In the United Arab Emirates, all designated areas must have a Warehouse Keeper who is responsible for supervising the Designated Zone’s activities and ensuring that it adheres to the necessary safety and security standards. To be eligible for […]
Q1 2023 – GCC Tax News & Updates
Q1 2023 – GCC Tax News & Updates To ensure your business’s success, we recognize the importance of tax compliance and savings. That’s why we want to keep you informed about the most recent tax updates in the GCC region through our 2023 Quarterly Tax Newsletter. This newsletter offers a comprehensive overview of the latest […]
FTA Introduces the New Excise Tax Public Clarification EXTP010 replaces EXP005, effective from 1 April 2023
The New Excise Tax Public Clarification Announced by FTA on Designated Zones effective from 1st April 2023 In the United Arab Emirates, all designated areas must have a Warehouse Keeper who is responsible for supervising the Designated Zone’s activities and ensuring that it adheres to the necessary safety and security standards. To be eligible for […]
Excisable Goods Within A Designated Zone Is Excise Tax-Free, How About Deficient Or Missing Goods?
Excisable Goods Within A Designated Zone Is Excise Tax Free, How About Deficient Or Missing Goods? Excise Goods stored, preserved or processed in a Designated Zone or transferred between Designated Zones will be Excise tax-free as per the Cabinet decision 37 of 2017 on the Executive Regulation of the Federal Decree-Law No (7) of 2017 […]
Excise Tax: New and updated guidance from the Federal Tax Authorities
Excise Tax : New and updated guidance from the Federal Tax Authorities In August 2022, the UAE Federal Tax Authority published a new User Guide on Excise Tax for Clearing Companies, focusing on Consumption, Import and Release transactions, and public clarification EXTP008 about the calculation of financial guarantees for the Excise Tax in Designated Zones. […]
Understanding DTS stamps – Overview
Understanding DTS Stamps – Overview What is DTS Stamp? The Digital Tax Stamp (DTS) is a control solution that delivers a unique pack marking and encoding to allow product traceability from point of manufacture through to the final Emirate of distribution and to support enforcement activity targeting the reduction in illicit Tobacco & Tobacco products […]
Tax Audits – FTA Inspections and seizure of Tax evaded Excisable Goods
Tax Audits – FTA Inspections and seizure of Tax evaded Excisable Goods The Federal Tax Authority (FTA) with the collaboration of other government entities had increased the inspections compared to the last year to ensure the consumers from non-compliant products combat tax evasion and ensure compliance with tax legislation and procedures. Excise tax is imposed […]
Latest Updates Related to Excise tax – Aug 2022
Latest Updates Related to Excise tax – Aug 2022 Summary of Excise Tax Public Clarification on Excise Tax Designated Zones – Calculation of financial guarantees *DZ- Designated zone When you are registering for a new DZ or renewing the existing the DZ, the warehouse keeper of the DZ will be required to provide a financial guarantee […]
