An Economic Substance Regulation appeal is an official request made by a licensee to repeal a decision made by the Regulatory Authority after the licensee’s noncompliance with ESR requirements. The …
Read MoreComprehensive Guide for ESR appeals through the FTA
The purpose of the Economic Substance Regulation is to avert tax evasion, uphold fair taxation, and combat harmful tax practices. It ensures that businesses engage in relevant activities and sufficient …
Read MoreEconomic Substance Notification for the Fiscal Year Ended 31st December 2022
The UAE Economic Substance Regulation was implemented to endorse tax transparency, combat harmful tax practices and comply with the OECD standards. Thus, it is essentially advisable for licensees to seek …
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 …
Read MoreWho is a Licensee under the Economic Substance Regulation in UAE?
The UAE Economic Substance Regulation (ESR) was introduced for corporations to comply with the Organization for OECD (Economic Cooperation and Development) framework to evade harmful tax practices. The regulation ensures …
Read MoreWho are exempted licensees under the UAE Economic Substance Regulation?
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 …
It is mandatory for businesses that fall within the scope of Economic Substance Regulations in the United Arab Emirates to undergo the Economic Substance Test. In order to meet the …
Read MoreHow High Risk Intellectual Property Business meet Economic Substance Test in UAE?
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 compels businesses that conduct relevant activities to meet the Economic Substance Test to which certain prerequisites have to be fulfilled. Primarily, corporations ought to submit the …
Read MoreUnderstanding the ESR reporting requirements in the UAE