Hide this message. Home Alcohol duties. Guidance Make an excise duty off-set calculation. Contents How to make an excise duty off-set calculation Guide to working out excise duty and making an off-set calculation.
Print this page. How to make an excise duty off-set calculation To make you excise duty off-set calculation, you will need to know the: excise duty rate applicable to the goods on the date they enter Northern Ireland amount of UK excise duty already paid on the goods This information will allow you to work out the difference between the excise duty already paid on the goods and the amount charged on entry to Northern Ireland.
Step 1: Work out the amount of excise duty chargeable on entry to Northern Ireland If you know the amount of excise duty chargeable on entry to Northern Ireland go to step 2. Step 2: Confirm the amount of UK excise duty already paid on the goods If you know the amount of UK excise duty already paid on the goods, you can go to step 3 and work out the off-set. Step 3: Make your off-set calculation You need to subtract the excise duty already paid on the goods step 2 from the excise duty chargeable on entry to Northern Ireland step 1.
Step 2: Confirm the duty already paid on the goods Normal accounting records and commercial documentation may already detail how much UK excise duty has already been paid, in which case go straight to the step 3 and work out the off-set. Step 3: Make the duty off-set calculation Subtract the duty already paid step 2 from the duty chargeable on entry to Northern Ireland step 1 to confirm if any additional excise duty is due.
Example 2 - Wine and Made-Wine - A case of six 75cl bottles of Step 3: Apply the duty off-set calculation Subtract the duty already paid step 2 from the duty chargeable on entry to Northern Ireland step 1 to confirm if any additional excise duty is due. Example 4 - Beer: A case of 24 x ml bottles of 5.
Published 29 January Related content Moving excise goods from Great Britain to Northern Ireland by parcel Excise Notice b: commercial importers and tax representatives - EU trade in duty paid excise goods Tobacco products: fiscal markings Record keeping for Wine Duty Excise Notice b Excise Notice wine production.
Brexit Check what you need to do. Explore the topic Alcohol duties. Is this page useful? Maybe Yes this page is useful No this page is not useful. Thank you for your feedback. Report a problem with this page. What were you doing? What went wrong? Email address. With this method, the price of the goods does not play any role. The selling price for each excise product will be the value set by the manufacturer or importer.
The tax authorities can also determine the appropriate retail price of the excise goods and base the tax calculation on whichever value is higher. For concentrates, the value of the product is based on the volume it will eventually have after it is diluted for use.
We have explained, how the price of a concentrate is caluculated , later in the document. The excise tax will be implemented on the excise price of the goods. It is higher than the price published by the FTA in the Standard price list. The excise tax is calculated as a percentage of the tax base. The final price includes all other taxes or duties imposed on goods, other than VAT it will be due after it is introduced in the UAE. If the item is not listed in the standard price list published by the FTA, the excise price of the goods on which tax will be calculated, is the designated retail sales price of the goods without the excise tax included.
Note : Recommended selling price of the goods, is the price when the excise good is sold for retail directly to a consumer. In order to calculate the average retail selling price of the excise goods in the market, the taxable person should use the following method:. Identify the different prices the excise goods have been sold for in the market during the last 12 months.
If any excise tax was included within those selling prices identified at step 1, deduct the excise tax from the price to arrive at the tax exclusive selling price. For each different selling price in the previous 12 months, identify the total quantity of excise goods sold at that price and multiply the quantity sold by the selling price to calculate a market revenue figure for that price, for the period. Add the results of this calculation together for each price, to arrive at the total market revenue for excise goods over that 12 month period.
Divide the total market revenue by the total number of excise goods sold during the period — this will give you the average tax base of the goods. Multiply the figure at step 4 by the appropriate tax rate to calculate the notional excise tax on the price.
Add the figures from step 4. This will mean that after the GST was introduced, excise duty has almost ceased to exist in the country. However, excise duty is still applicable in case of products like petroleum and liquor. Here we discuss how the concept of excise duty worked in India before the introduction of GST. Sign up for a weekly brief collating many news items into one untangled thought delivered straight to your mailbox.
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