Excise tax services
As trade globalizes, managing excise taxes and understanding opportunities to mitigate their impact are crucial for all businesses operating in affected industries.
What EY can do for you
Excises are indirect taxes levied by tax authorities on the consumption of specific products or services (often considered to be harmful for consumers’ health and the environment, or luxurious products) and are considered an inevitable cost of doing business. They often apply to products such as alcohol, oil and tobacco. By imposing excise taxes, countries generally attempt to discourage the consumption of these products and to raise revenues.
But these taxes apply to different products in different countries, sometimes at different stages of the supply chain. In particular, domestic excise duties can become “trapped” as goods and services cross borders. Managing excise taxes and understanding opportunities to mitigate their impact is crucial for all businesses operating in affected industries.
Our global approach to excise tax compliance helps drive value by:
- Providing tax technical analysis of your rights and obligations, including assisting you in your tax policy discussions with governments
- Reducing risk by providing oversight and centralized coordination the entire global tax compliance process
- Providing access and visibility into all facets of tax return preparation, filing with authorities and maintaining of documents
- Focusing on controversy in tax technical matters, including litigation (where permitted)
- Providing a unified strategy to leverage global financial system data for local country excise tax compliance processes.
- Utilizing a proven compliance process and tools that can be implemented with immediate effect and minimal disruption
- Providing flexible and scalable approaches to comply with your changing global structure and needs