The UAE Economic Substance Regulation(ESR) was introduced in 2019 to comply with international tax standards and increase transparency in the country’s business practices. The regulation compels companies operating within the …
Read MoreThe UAE Economic Substance Regulations (ESR) Reporting Guidelines
The primary purpose of ESR is to establish, maintain and illustrate the presence of onshore and free zone companies which undertakes the respective Core Income Generating Activities with regard to …
On 10th August 2020, the UAE Cabinet of Ministers issued amendments to Resolution-31, also known as the Economic Substance Regulation, and introduced Resolution No. 57. According to Resolution No. 57, …
The Economic Substance Regulation (ESR) Regulatory Authorities evaluate and determine whether a Licensee satisfies the ESR Test. Essentially, the ESR Test checks if the business has conducted an Income Generating …
Read MoreFunctions of the ESR Regulatory Authorities in the UAE
The Economic Substance Regulation was issued by UAE according to the global standards set by the Organisation for Economic Cooperation and Development (OECD), as well as by the European Union …
Read MoreWhy should a Business Comply with Economic Substance Regulations?
On 30 April 2019, the Economic Substance Regulations were issued by the United Arab Emirates in accordance with the Cabinet of Minister Resolution Number 31 of 2019. Moreover, assistance for …
The Objective of Appeal Guide for ESR The ESR appeal requires the Licensee or the Exempted Licensee to appeal to the National Assessment Authority due to the decision imposed to …
Read MoreAppeal User Guide for Economic Substance Regulations in the UAE
Businesses in the United Arab Emirates (UAE) that are subject to the ESR have to show economic presence commensurate with the volume and variety of major economic activity they engage …
Read MoreOffenses and Penalties for Failure to Meet the Economic Substance Test
According to Ministerial Decision 100 of 2020, an Exempted Licensee under Economic Substance Regulations includes any of the following entities registered in the United Arab Emirates and which carry out …
The Economic Substance Regulations require all entities carrying out relevant activities in the UAE to clarify that they have sufficient economic substance in the UAE through some mandatory procedures. These …