Excise tax registration is required for any business that imports, manufactures, stockpiles or releases excise goods from a designated zone. An excise tax registration service must be carried out following the law. GSPU provides the most efficient and timely excise tax registration services.
Excise taxes are indirect taxes levied by tax authorities on the consumption of specific products or services (often deemed harmful to consumers’ health and the environment, or luxurious products), and are regarded as an unavoidable cost of doing business. They are frequently applied to products such as alcohol, oil, and tobacco. Countries generally try to discourage the consumption of these products while increasing revenue by imposing excise taxes.
However, these taxes apply to different products in different countries, and at various stages of the supply chain. Domestic excise duties, in particular, can become “trapped” as goods and services cross borders. It is critical for all businesses operating in affected industries to manage excise taxes and understand opportunities to mitigate their impact.
Deliverables for Excise Tax
- Advising clients on how to structure business transactions within designated Free Zones to meet Excise Tax requirements
- Excise declarations and returns are filed with the Federal Tax Authority.
- Importers, producers, and stockpilers are registered for Excise Tax.
- Services for Excise Tax registration and de-registration
Our Approach to Excise Tax Services
Our global approach to excise tax compliance contributes to value by:
- Providing tax technical analysis of your rights and obligations, as well as assisting you in tax policy discussions with governments
- Reducing risk by providing oversight and centralized coordination of the entire global tax compliance process.
- Providing access and visibility into all aspects of tax return preparation, filing with authorities, and document maintenance.
- Focusing on the controversy in tax technical matters, including litigation (where permitted).
- Using a tried-and-true compliance process and tools that can be implemented with immediate effect and minimal disruption.
- Providing a unified strategy for leveraging global financial system data for local country excise tax compliance processes.
- Providing adaptable and scalable solutions to meet your changing global structure and needs.