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Excise Return Filling
Each enrolled person must submit a power record known as a remove return to the Federal Tax Authority (“FTA”) on a monthly basis. Before the fifteenth of the following month, all VAT Returns must be electronically submitted via the FTA entry. In the event that no express agreement exists, additional specified individual requirements are listed to record NIL returns prior to the deadline.
Penalty for Failure to Comply
Penalty for Failure to Submit or Pay Excise
Non-timely submission of the return
Excise taxes not paid on time
Delay of AED 1000 for the first time
When the Payable Tax payment is late, 2% of the outstanding tax is instantly due.
In the event of persistent non-compliance for 24 months, AED 2000
On the seventh day after the payment deadline, 4% of the unpaid tax is due on the amount of tax that is still owed.
Any sum that is still owing after the payment
deadline has passed will be assessed a daily penalty of 1% of the unpaid tax,
up to a maximum of (300%).
How DIBN Can Help
Our team of tax consultants and experts provides businesses with expert advice that enables them to comply with the rules and guidelines established by the federal tax authority. The smooth compliance with the law and associated rules and regulations is ensured by our committed expert team for filing excise returns, which continuously monitors the timeframe set forth by the FTA and files the return filing within the allotted time.