ESR Compliance

ESR Compliance

UAE has published the Economic Substance Regulations that demands valid enterprises which meet their ‘relevant activity’ to demonstrate genuine economic substance in the UAE.

The issuances of new reporting requirements are permitted in the functioning of ESR.According to this legislation, it’s illicit to violate any regulation which is part of the OECD recommendations on the prevention of harmful tax practices. However, the violation shall result in penalties, loss of tax treaty reliefs and revocation or non-renewal of trading licenses.

As per Cabinet Resolution No. 31 of 2019, the Relevant Activities are listed below.
  1. Banking Business
  2. Insurance Business
  3. Investment Fund Management Business
  4. Lease-Finance Business
  5. Holding Company
  6. Headquartered Business
  7. Shipping Business
  8. Intellectual Property Business
  9. Distribution & Service Centre Business

Our ESR team can assist you in the following areas: -

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