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Category: Excise Tax

Different Types of Taxes Worldwide

When doing business globally it is important to be aware of factors that can affect smooth activity. One of the biggest factors in that regard is taxation on those activities. Taxation is, broadly speaking, a levy or cost imposed by a government on private entities (such as people or businesses) in exchange for permission to conduct business. Taxes are a cornerstone that supports government finances worldwide. Some countries tax less than others according to their needs and requirements.

Excise Tax on Tobacco and Electronic Smoking Devices

Excise tax is a flat-rate levy on the sale of particular products, services, and operations. It is an indirect kind of tax that means it is not paid by the customer directly. Instead, the producer/company that includes it in the product price will be charged excise tax. It is your obligation to collect and pay taxes to the authorities responsible for any of the items that your firm sells.

Excise Tax In UAE

In the UAE, excise tax was imposed on tobacco and tobacco products, energy drinks, and carbonated drinks.

By: Tanvi fal Dessai

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