- UAE released the new Executive Regulation of the Excise Tax Law
- Amendments to specific clauses of the Excise Tax ER were introduced
- Amendments will take effect on 1 December 2023
- New definitions for “official evidence,” “commercial evidence,” and “shipping certificate” were added
- Pre-existing definitions were eliminated
- FTA reserves the right to deregister the Registrant under certain circumstances
- Absence of audited reports for stored Excise Goods may result in categorizing the inventory as “excess”
- Excise Goods will not be classified as “released for consumption” in cases of natural shortage
- More comprehensive documentation requirements for the exemption of Excise Goods exports were introduced
Source: mailchi.mp
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
