Excise Health Check
Ensure compliance with an Excise Health Check from Stratify. We review your excise tax processes, ensuring accuracy and helping avoid costly penalties.
Excise Health check with Stratify
Excise Health Check is a comprehensive review of a company’s excise tax compliance status to ensure adherence to UAE’s excise tax regulations. It involves a thorough assessment of your records, procedures, and systems to identify potential risks or discrepancies in reporting, filing, and payment of excise tax. This service is designed to help businesses mitigate the risks of non-compliance, penalties, and audit issues
Process of Health Check
Initial Consultation
We start with a consultation to understand your business operations and excise tax obligations.
Document Review
Our experts review your excise tax returns, invoices, stock records, and other relevant documents to ensure compliance.
Data Analysis
We analyze your excise-related transactions, including purchase and sale of excise goods, stock movements, and declarations to ensure they match with FTA filings.
Risk Identification
Any gaps, errors, or risks of non-compliance are identified. This includes missed declarations, incorrect tax calculations, and late payments.
Compliance Report
We provide a detailed report outlining our findings, identifying potential risks, and offering recommendations for corrective actions to ensure compliance with excise tax regulations.
Action Plan
Based on our report, we collaborate with you to implement corrective measures, including revising past returns, amending procedures, and improving record-keeping systems to prevent future issues
Documents Required for UAE Excise Tax Registration
Excise Tax Registration Certificate
Proof of the business's registration with the Federal Tax Authority, confirming its authorization to handle excisable goods and comply with excise tax regulations.
Excise Tax Returns
Filed returns for the previous 12 months, showing reported tax obligations and paid amounts, crucial for verifying compliance and accuracy in tax reporting.
Purchase & Sales Invoices for Excise Goods
Invoices for excisable goods purchased and sold, providing a record of transactions subject to excise tax and assisting in the reconciliation of tax obligations.
Stock Records & Inventory Logs
Detailed records of excisable goods in stock, including inventory logs, which help verify the quantities of goods handled and stored, supporting accurate tax assessments.
Excise Tax Payment Receipts
Receipts of excise tax payments made to the FTA, ensuring that payments align with filed returns and verifying timely compliance with tax liabilities.
Import & Export Documents for Excise Goods
Documents related to the import and export of excisable goods, helping track cross-border transactions and ensure all required excise duties are met.
Communication with the FTA
Any correspondence with the Federal Tax Authority, including inquiries, responses, and guidance received, which may affect the business’s tax status or compliance measures.
Excise Product Registration with the FTA
Registration details for specific excisable products, confirming they meet FTA standards and are approved for sale or distribution.
How We Can Help You
At Stratify, we specialize in ensuring that your business remains fully compliant with UAE excise tax regulations. Our Excise Health Check service offers several benefits:
Comprehensive Review
We assess every aspect of your excise tax obligations to identify potential risks
Risk Mitigation
We help you avoid penalties and fines by addressing non-compliance before an FTA audit
Tailored Solutions
Our recommendations are tailored to your business, ensuring that all corrective measures are practical and effective
Expert Guidance
With our in-depth knowledge of UAE excise tax law, we provide expert advice on how to optimize your excise tax management
Ongoing Support
We offer continued assistance to maintain compliance and ensure your business is prepared for any future FTA audits
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Our Other Excise Tax Services
Our Services
Stratify Corporate services is an independent and international organisation with a specialization in crafting sustainable solutions and strategies
Value Added Tax
Ensure full compliance with UAE’s Value Added Tax regulations through tailored advisory, registration, filing, and VAT health check services.
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Corporate Tax
Navigate UAE’s corporate tax landscape with strategic tax planning, filing, and compliance support to optimize your tax position.
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Excise Tax
We assist businesses in understanding and complying with excise tax regulations, including registration, filing, and audit preparation.
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Accounting Outsourcing
Streamline your financial operations by outsourcing your accounting needs, from bookkeeping to financial reporting, for efficient management.
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Customs
Simplify import-export procedures and ensure compliance with UAE Customs regulations through advisory, registration, and customs reconciliation services.
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Company Formation
Start your business in the UAE with expert guidance on company incorporation, licensing, and compliance with local regulations.
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Audit & Assurance
Our audit and assurance services provide reliable financial insights, ensuring transparency and compliance with regulatory requirements.
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Economic Substance
Anti-Money Laundering
Protect your business by staying compliant with UAE’s AML regulations, with risk assessments, monitoring, and reporting solutions.
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Frequently Asked Questions
What is excise tax?
Excise tax is a form of indirect tax imposed on specific goods that are considered harmful to human health or the environment. In the UAE, excise tax applies to products like tobacco, energy drinks, carbonated drinks, and e-cigarettes
Who needs an Excise Health Check?
Any business that imports, manufactures, or sells excise goods should consider an Excise Health Check. This is especially important for businesses that have undergone significant changes or are preparing for an audit
What happens if discrepancies are found during the Excise Health Check?
If we find any discrepancies or risks of non-compliance, we will advise you on corrective measures to address these issues. This could involve amending past returns or improving internal procedures
Can an Excise Health Check prevent future audits?
While it cannot prevent an FTA audit, an Excise Health Check ensures that your business is fully compliant, reducing the risk of penalties during an audit
How long does an Excise Health Check take?
The time required depends on the complexity of your business and the volume of documents to review. Typically, it takes a few weeks from initial consultation to the delivery of the final report
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Contact Us
By partnering with Stratify for your Excise Health Check, you can ensure your business remains compliant and free of potential tax-related issues. Contact us today to schedule a consultation.
