With Effect from 16th August 2019, Federal Tax Authority has updated the Excise Tax reporting requirements to include detailed reporting for various transactions apart from previous import and release declarations. Summary of revised reporting items are:
EX201 – Excise Goods that require Customs Clearance
Ex202A – Excise Registered Designated Zone Reporting
Ex202B – Producer Declararation
Ex203A – Local Purchase Form
Ex203B – Lost & Damaged Declaration
Ex203C – Transfer of Ownership within Excise Registered Designated Zones
The measures taken by FTA towards such reporting will be helpful for registrants to declare requisite information to FTA on Timely Basis.
To know more, get in touch with our excise tax experts at info@hkmsgroup.com / +971 – 543537787