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UAE Excise tax: Can a store sell existing stock at old rates?

Dubai - The Federal Tax Authority expect the audit to be conducted by a third party

Even as prices of soft drinks, tobacco and energy drinks are set to go up from tomorrow October 1, regulations stipulate that a retailer will not be liable for tax if he obtains excise goods before the law came into force and the goods were ready for release for consumption.
Usually, supermarkets and hypermarkets store a few months' supply of non-perishable goods in their warehouses, and this means that there is a possibility of at least some such retailers offering cigarettes and soft/energy drinks at pre-excise rates over the next few days and, perhaps, weeks.
According to a note by global consultancy Deloitte, all UAE businesses - which include retailers, hoteliers, restaurants as well as imports and producers - that have excise goods are required to have a stock audited on hand ready for October 1.
"This is because there is a liability to account for 'excess' stock on hand. Excess stock is defined as more than 2 months' worth of stock or more than is normally held by the business, but an audit is required regardless. Businesses without such a stock take may be subject to penalties," it said in a note on its website.
The Federal Tax Authority has indicated that they expect the audit to be conducted by a third party.
The UAE has imposed a 50 per cent excise on carbonated beverages and 100 per cent on tobacco and energy drinks. Soft drink prices will increase from Dh1.50 to Dh2.25 while the price of a pack of cigarettes will double from an average Dh8 to Dh16. The retail price of energy drinks too will double, from an average Dh5 - Dh10 per can to Dh 10 - Dh20 - depending on the brands.