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Maintaining a Designated Zone Registration for Excise Tax Purposes

ITC Accounting & Tax Consultancy

Your Trusted Partner Specialized in VAT, Corporate Tax, Financial Services and Taxation in the UAE

发布日期: 2023年12月1日

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Sustaining the privileged status of a designated zone for Excise Tax demands adherence to a meticulous renewal process. When the designated zone approaches the expiry date, the warehouse keeper assumes the responsibility of submitting the designated zone renewal (amendment) form to the Federal Tax Authority (FTA), along with a renewal fee of AED 2,000 for each zone requiring renewal.
Notably, the renewal form is eligible for submission 30 days before the expiration of the designated zone registration, prompting the warehouse keeper to receive timely email notifications as a reminder to initiate the renewal process.
The renewal process entails the provision of essential details by the warehouse keeper, encompassing an estimate of the annual value of excise goods passing through the zone and the average value of excise goods held monthly. These details should be based on the most recent 12-month period, ensuring accuracy and compliance.
Drawing on the provided details, the FTA proceeds to calculate the value of the financial guarantee to be lodged by the warehouse keeper. If the computed value suggests a disparity compared to the current guarantee, the warehouse keeper is promptly informed and directed to arrange a new guarantee in accordance with the determined value.
Moreover, timeliness holds significance throughout the renewal process. The renewal form must be submitted before the designated zone registration expires, while the associated renewal fee must be settled within 20 business days from the due date. Non-compliance with the fee payment within the stipulated timeframe would result in the designation of the zone as "suspended" for a duration of 20 business days, subsequently leading to its classification as "expired" if left unattended.
In the unfortunate event of a designated zone registration expiration, all excise goods residing within the zone are automatically deemed released for consumption in the United Arab Emirates. Consequently, immediate payment of Excise Tax becomes compulsory for the released goods. This essential financial obligation must be duly declared within the corresponding Excise Tax declaration, thereby updating the taxable person's Excise Tax return to reflect the necessary adjustments.

Summary

In the realm of Excise Tax regulations in the United Arab Emirates, the maintenance of a designated zone's status demands a systematic renewal process. The custodian must submit the renewal form 30 days before the expiration, accompanied by a fee of AED 2,000 per zone. Accurate and timely provision of details on excise goods throughput and values is crucial, as the Federal Tax Authority recalculates the financial guarantee accordingly. Failure to adhere to the timeline results in a suspended status, ultimately leading to expiration. Upon expiration, all goods are considered released for consumption, necessitating the immediate declaration and payment of Excise Tax.

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Maintaining a Designated Zone Registration for Excise Tax Purposes

ITC Accounting & Tax Consultancy

Your Trusted Partner Specialized in VAT, Corporate Tax, Financial Services and Taxation in the UAE

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