UAE Economic Substance Regulations Guide
Jay Krishnan, Partner
The UAE Cabinet issued the Cabinet of Ministers Resolution No.31 of 2019, on 30th April of last year. The resolution requires all in-scope UAE entities to maintain an economic substance in UAE. This will be applicable to onshore and free zone companies that engage in certain ‘Relevant Activities’.
The UAE Ministry of Finance has recently published a document to provide guidance to UAE businesses on “Relevant Activities” and their associated “Core Income-Generating Activities” (“CIGAs”).
Click here for further details on UAE economic substance regulations.
ESR Compliance Deadline Extended till January 31st
The ESR compliance deadline in UAE has been extended for a month to January 31st, 2021. The extension is a great relief to businesses as they had a rough time
Economic Substance Reassessment in UAE
UAE businesses, including the ones that had already filed ESR notification, are required to file or re-file ESR notification through MoF’s dedicated portal.
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