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What Compliance is required under the UAE - Economic Substance Regulations?

12/6/2020

1 Comment

 
  • ​Established companies holding License, which carries out one or more of the Relevant Activities as stipulated under UAE Economic Substance Regulations, must submit a notification to the appropriate regulatory authority as set out in the Economic Substance Regulations.
  • ​In addition, for every financial period, any Licensee that carries out one or more of the Relevant Activities and derives income from the Relevant Activity in the UAE will also be required to satisfy an "economic substance test" and submit an annual economic substance report with the appropriate regulatory authority within 12 months from the end of the relevant financial year.Companies that are at least 51% directly or indirectly owned by the Federal or an Emirate government or a UAE-based government body or authority are exempted from the compliance under ​UAE Economic Substance Regulations.
​The appropriate regulatory authority varies depending on the type of Relevant Activity and the location in which it is undertaken. Each regulatory authority will set out the form of the reports to be filed and the mechanisms for submitting such forms.
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?

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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1 Comment
shaik ahmed hussain
18/6/2020 08:22:01 am

Thanks for the brief explanation

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    Ramesh Kumar Gupta is a young and dynamic Chartered Accountant and has 22 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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  • HOME
  • ABOUT US
    • GUPTA ACCOUNTANTS
    • MANAGEMENT
    • UNITED ARAB EMIRATES
  • SERVICES
    • ACCOUNTING >
      • Accounting Dubai
      • Accounting Abu Dhabi
      • Accounting Sharjah
      • Accounting RAK
      • Accounting Fujairah
      • Accounting Ajman
      • Accounting UAQ
    • AUDIT COMPLIANCE >
      • Audit Dubai
      • Audit Sharjah
      • Audit RAK
      • Audit AD
      • Audit Ajman
      • Audit Fujairah
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      • Review Dubai
      • Review AD
      • Review Sharjah
      • Review RAK
      • Review Ajman
      • Review Fujairah
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      • Deregistration AD
      • Deregistration Sharjah
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      • Compliance Dubai
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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 AD
      • Refund Sharjah
      • Refund RAK
      • Refund Ajman
      • Refund Fujairah
      • Refund UAQ
    • VAT VDS >
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      • VDS AD
      • VDS Sharjah
      • VDS RAK
      • VDS Ajman
      • VDS Fujairah
      • VDS UAQ
    • VAT AUDIT >
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      • VAT Audit AD
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      • VAT Audit RAK
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      • VAT Audit Fujairah
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      • ESR RAK
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  • CONTACT
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  • Insights
    • VALUE ADDED TAX - UAE >
      • FAQ - How to >
        • How to check TRN validity in UAE
        • How to de-register under VAT in UAE
        • How to apply for VAT registration in UAE
        • Supplies not eligible for input tax recovery under VAT in UAE
        • Supplies not eligible for input tax recovery under VAT in UAE
        • Input VAT Adjustments under Capital Assets Scheme
      • FAQ - 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 Certain Transport Services
        • Place of Supply of Services Related to Real Estate
        • Place of Supply of Telecommunication and Electronic Services
        • Place of supply of services in special cases
      • FAQ - Registration >
        • Introduction to VAT Laws in UAE
        • Frequently Used Terms in Indirect Tax System
        • VAT Registration in UAE
        • Who should register under VAT
        • Tax Registration Number (TRN)
        • VAT registration Deadlines in UAE
        • VAT Group Registration
        • VAT Registration Threshold Calculation in UAE
        • Input Tax Recovery under VAT in UAE
        • What is Capital Asset Scheme in UAE VAT ?
    • CORPORATE TAX - UAE >
      • INTRODUCTION OF CORPORATE TAX - UAE
      • Public Consultation Document Issued
    • Due dates