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Records to be maintained under UAE Excise Tax

There are 9 records to be strictly maintained by a taxable person for Tax Audit.

1. Records of all produced, imported or stockpiled Excise Goods and exported Excise Goods.

2. Evidence of exported Excise Goods.

3. Records of stock levels.

4. Detailed records of lost or destroyed Excise Goods.

5. Tax Record for Due Tax on imported Excise Goods and produced Excise Goods.

6. Tax Record for Due Tax on Excise Goods that have been stockpiled.

7. Evidence of deductible tax:

a) Tax paid on exported Excise Goods.

b) Tax paid on Excise Goods constituent to another Excise Good which is or is subject to tax.

c) Mistakenly amounts paid to the Tax Authority.

1.Some of the Sample Reports that the Tax Auditor/ Tax Authority may ask you to submit to their office are:

a) Report for one-year period prior to implementation of Excise Tax i.e, 1st October 2016 to 30th September 2017.

b) Item wise details of quantity and value of excise goods stored.

c) Item wise report on average monthly sales for excise goods and inventory for excise goods.

d) Item wise report on quantity of excise goods produced and imported.

2. Report for a specific period after implementing excise tax.

The FTA / Excise Tax Authority or tax auditor may demand the following details for any taxable period for Tax Audit purpose.

a) Item wise Excise goods produced, imported, released from Designated Zones, sold in the local market, exported.

b) The list of companies to whom the excise goods are sold and retail stores to whom the excise goods are sold.