Economic Substance Regulations (ESR) – Deadline Reminder

ESR Report for FYE 31st Dec 2020: In accordance with the Cabinet of Ministers Resolution No.31 of 2019, All companies whose: Financial year ended on 31st December 2020; have conducted and generated income from any of the nine Relevant Activity’s during the period; and not categorized under the “exempted category”…
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Tax Alert: Appeal for Economic Substance Regulations Penalties

FTA has issued Economic Substance Regulations Appeal user-guide in August 2021. The new guide assists t Licensees in submitting an appeal request to the Federal Tax Authority (National Assessment Authority) related to Administrative Penalties levied concerning Economic Substance Regulations. The key takeaways from the User Guide: What is the appeal?…
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Economic Substance Regulations

As a committed member of OECD inclusive framework, and in response to the UAE’s tax framework by the European Union (EU) Code of Conduct Group on Business Taxation, the UAE introduced a resolution on the Economic Substance on 30th April, 2019. Guidance that provides further clarity on the application of…
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