Monday, 21 August 2017

New law sets framework for excise tax collection in the UAE | GulfNews.com

New law sets framework for excise tax collection in the UAE | GulfNews.com:

"The new Excise Law or Federal Decree-Law No. 07 of 2017 sets the framework for the imposition and administration of excise duties in the UAE. The new legislation requires excise tax to be imposed on certain activities around specific excise goods, activities such as the production or import of excise goods in to the UAE, as well as the stockpiling of these in the UAE. The due tax is the responsibility of the person who conducts any of these activities. The Federal Tax Authority (FTA) may exempt a person from registration, but not payment of tax, if they can demonstrate that they will not regularly import excise goods. However, anyone who has been exempted from tax registration must immediately inform the authority of any changes to his/her circumstances that would make them subject to tax."



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