What is VAT ?
A value-added tax (VAT) is a type of consumption tax that is placed on a product whenever a value is added at a stage of production and at the point of retail sale. The amount of VAT that the user pays is the cost of the product, less any of the costs of
materials used in the product that has already been taxed.
What is Excise ?
Excise is Sin Tax and imposed on products to discourage their usage. UAE has already imposed excise tax on several unhealthy products including tobacco, carbonated drinks and energy drinks. The percentage of tax varies from 50%- 100% as per laws issued by Ministry of Finance.
VAT & Excise Advisory
Brainstorm Accounting & Bookkeeping provides VAT & Excise Advisory, planning, tax optimization, implementation, and training services in the UAE and throughout the GCC. Our team of expert tax advisors, financial consultants, and tax accountants will ensure a cost-effective and efficient VAT services for SME’s. We provide all VAT related services and cover all relevant services.