UAE Federal Tax Authority publishes Public Clarification on financial guarantee calculation for excise tax designated zones

• A Public Clarification was published on 31 August 2022 by the FTA that rewards compliant warehouse keepers by reducing the amount of required financial guarantee for excise tax designated zones.
• The Public Clarification came into effect on 1 September 2022.
• Excise tax warehouse keepers must evaluate the impact of the new financial guarantee calculation methodology.

Source EY

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