ESR Updates

  • Received Penalties For No-Submission Of ESR Report? File an Appeal

    Received Penalties For No-Submission Of ESR Report, File an Appeal

    What is Economic Substance Regulations in the UAE? (ESR) The United Arab Emirates has in coordination with the Ministry of Finance implemented Economic Substance legislation in order to comply with its commitment as a member of the OECD (to comply with EU’s requirements to be removed from the list of non-cooperative tax nations). The Economic […]

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  • New Updates on Economic Substance Regulations in the UAE

    New Updates on Economic Substance Regulations in the UAE - Horizon Biz Consultancy

    The updated information regarding the ESR has been published by the Ministry of Finance (MoF) on their web portal. (Click Here). Key Changes Summary: Role of FTA vs RA: the UAE Federal Tax Authority (FTA) has been assigned the role of National Assessing Authority. As such, it is responsible for assessing and enforcing compliance with the […]

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  • Economic Substance Regulations in UAE

    Economic Substance Regulations in UAE

    The United Arab Emirates Cabinet recently issued resolution that requires all in-scope UAE entities to maintain an economic substance. Economic Substance Regulation was introduced by the UAE government in order to align the entire region with global standards set by the Organization for Economic Cooperation and Development (OECD) Forum on Harmful Trade Practices with  prevention of Base Erosion […]

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