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What is the Economic Substance Regulations?

12/6/2020

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​In 2019, the UAE issued the herein below listed legislation introducing economic substance regulations that apply across all onshore and free zone jurisdictions in United Arab Emirates:
  1. ​UAE Cabinet Resolution No. 31/2019 concerning economic substance regulations in the UAE
  2. Cabinet Resolution No. 58/2019, which designates the appropriate UAE authorities to regulate compliance under these regulations.
  3. guidance released by the Ministry of Finance pursuant to Ministerial Decision No. 215/2019; and
  4. Cabinet Resolution No. 7/2020, amendments to Resolution No. 31-2019 
These recently introduced economic substance regulations in UAE,  required all the businesses that may be subject to these regulations to take action and ensure timely compliance.
What is Economic Substance Regulations? 

What Compliance is required under the UAE Economic Substance Regulations?

Business Activities, subject to notification - substance test and annual substance return compliance  under the UAE  Economic Substance Regulation 

Economic Substance Regulations in United Arab Emirates

Concerned Regulatory Authorities under ESR - Economic Substance Regulation in UAE

Who is subject to the ESR?

​For more information on how Gupta Accountants could assist you in compliance with UAE  Economic Substance Regulation Rules, ​contact us today. ​
​
Gupta Accountants competent team of chartered accountants in Dubai, provides best supports at all the stages of the compliance to Economic Substance Regulations in UAE to companies registered under free zones and on main land, established in the emirates of  Dubai, Abu Dhabi Sharjah, Umm Al Quwain, Ajman, Ras Al Khaimah and Fujairah. 
​  
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    Ramesh Kumar Gupta is a young and dynamic Chartered Accountant and has 21 years of experience in assurance, accounting, audit and business management.  He is a member of the Institute of Chartered Accountants of India (ICAI).  He is the Managing Partner of Gupta Accountants an accounting and advisory firm in Dubai UAE

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PO Box 123 383 Dubai UAE 
T: +971 4 396 7982 
M: +971 55 9893299
​E:  info@guptaaccountants.com 

We provide our periodic compliance services, like  FTA VAT  Return, FTA VAT Refund, FTA VDS Return, FTA Registration & Deregistration, Annual ESR Return & maintenance of statuary registers of UBO in UAE to the all the entities registered with  ​Ministry of Economy, Dubai Aviation City, Dubai South,  Hamriyah Free Zone Authority (HFZA),  Media Free Zone (Abu Dhabi), Central Bank of the UAE, Jebel Ali Free Zone (JAFZA) DP World,  Ajman Free Zone Authority, Abu Dhabi Airports Free Zone, Insurance Authority, Dubai World Trade center,  Ajman Media Free Zone Autority,  MASDAR, Security and Commodities Authority,  International Humanitarian City (IHC) ,Ras Al Khaimah International Corporate Centre (RAK ICC), Abu Dhabi Global Market (ADGM), Dubai Airport Free Zone , TECOM (Dubai Development Authority),  Ras Al Khaimah Economic Zone (RAKEZ), Abu Dhabi Ports, Dubai Healthcare City Authority, Dubai Multi Commodities Centre (DMCC), Fujairah Free Zone, Fujairah Creative City,  Dubai International Financial Centre (DIFC) Dubai Silicon Oasis Umm Al Quwain Free Zone (UAQ) Sharjah publishing city, Meydan Free zone, Sharjah Airport (SAIF) Zone, Khalifa Industrial Zone Abu Dhabi (KIZAD), Sharjah media city, International free zone authority Fujairah, RAK Maritime City, Sharjah Healthcare City, The Sharjah Research, Technology and Innovation Park  in addition to the assistance in the compliance with the annual audit requirements  and books of accounts. 
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  • HOME
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    • GUPTA ACCOUNTANTS
    • MANAGEMENT
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      • Accounting RAK
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      • Accounting Ajman
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    • AUDIT COMPLIANCE >
      • Audit Dubai
      • Audit Sharjah
      • Audit RAK
      • Audit AD
      • Audit Ajman
      • Audit Fujairah
      • Audit UAQ
    • AUDIT INTERNAL >
      • Review Dubai
      • Review AD
      • Review Sharjah
      • Review RAK
      • Review Ajman
      • Review Fujairah
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    • VAT REGISTRATION >
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    • VAT COMPLIANCE >
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      • Compliance Sharjah
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    • VAT CONSULTING >
      • Consulting Dubai
      • Consulting AD
      • Consulting Sharjah
      • Consulting RAK
      • Consulting Fujairah
      • Consulting Ajman
      • Consulting UAQ
    • VAT REFUND >
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      • Refund Ajman
      • Refund Fujairah
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    • VALUE ADDED TAX - UAE >
      • VAT in UAE >
        • Introduction to VAT Laws in UAE
        • Frequently Used Terms in Indirect Tax System
      • VAT Registration >
        • VAT Registration in UAE
        • Who should register under VAT
        • How to apply for VAT registration in UAE
        • Tax Registration Number (TRN)
        • How to check TRN validity in UAE
        • VAT registration Deadlines in UAE
        • VAT Group Registration
        • VAT Registration Threshold Calculation in UAE
      • VAT De-Registration >
        • How to de-register under VAT in UAE
      • Recovery of Input Tax >
        • Input Tax Recovery under VAT in UAE
        • Supplies not eligible for input tax recovery under VAT in UAE
        • Supplies not eligible for input tax recovery under VAT in UAE
        • What is Capital Asset Scheme in UAE VAT ?
        • Input VAT Adjustments under Capital Assets Scheme
      • Place of Supply >
        • Place of supply of goods under VAT in UAE
        • Place of supply in case of export of goods
        • Place of supply of specific goods
        • Place of supply of services
        • Place of supply of services in special cases
        • Place of Supply of Telecommunication and Electronic Services
        • Place of Supply of Services Related to Real Estate
        • Place of Supply of Certain Transport Services