ESR Notification and Reporting in UAE

by Shuraa Tax taxation simplified

Ensuring compliance with ESR regulations in the UAE is crucial for businesses to avoid penalties and maintain good standing with authorities.

Recommended Features

1. Details of qualified personnel
2. Physical office space
3. Operating expenditure
4. Nature and value of your core functions
5. Details of any outsourced activities

Learn more about ESR Notification and Reporting in UAE»

Review on ESR Notification and Reporting in UAE

The UAE decreed the Economic Substance Regulations (ESR) on 30 April 2019 and the guidance on the application of the Regulations was released on 11 September 2019. These regulations apply to all UAE jurisdictions, including free zones and on-shore. It was introduced to comply with international initiatives to combat harmful tax practices including unlawful evasion. The Registrar of Companies was designated as the Regulatory Authority in the DIFC for the ESR UAE. Who Needs to Comply with ESR? Any business operating in the UAE that conducts any of the following Relevant Activities needs to comply with ESR: 1. Banking 2. Insurance 3. Lease-Finance 4. Investment Funds Management 5. Headquarters Activities 6. Shipping 7. Holding Companies There are also exemptions for certain types of businesses, so its important to check if your specific company falls under the ESR requirements. Companies engaged in these activities are required to submit an annual Notification to the authorities, including details about their activities.

Related to ESR Notification and Reporting in UAE

CSIR UGC NET Exam Notification

Council of scientific and industrial research recognized as CSIR has issued the notification for CSIR UGC NET exam December 2012 which is tentatively scheduled on 23-12-2012. Interested candidates...