On 30 April 2019, the United Arab Emirates issued Economic Substance Regulations to ensure their dedication as a member of the Organization for Economic Co-operation and Development (OECD) Inclusive Framework, …
With the institution of Cabinet Resolution No. 57 of 2020, the Economic Substance Regulation (ESR) in the UAE has become a dynamic compliance obligation for businesses. Under this resolution, administrative …
In 2019 as per the Cabinet of Ministers Resolution No. 31, the United Arab Emirates introduced the Economic Substance Regulations after the OECD (Organization for Economic Cooperation & Development) in …
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 …
The Economic Substance Regulation was introduced in 2019 by the UAE government to encourage economic activity and combat harmful tax practices. For ESR purposes, licensees must conduct relevant activities in …
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, …
A Licensee refers to an entity that is either a juridical person incorporated inside or outside the State or an Unincorporated Partnership registered in the State, including a Free Zone …
To meet the international criteria of BEPS (Base Erosion and Profit Shifting), UAE introduced economic substance regulations. Economic substance regulations are not limited to particular areas; rather they are covering …
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 …
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 …