Economic Substance Regulation UAE

Base Erosion and Profit Shifting (BEPS) is the use of legal tax planning strategies by companies to artificially shift profits to low or no-tax jurisdictions . BEPS laws and regulations proposed by the OECD is now enacted into the United Arab Emirates Legislation.

The United Arab Emirates Cabinet of Ministers has issued the Economic Substance Regulations supplemented by guidelines issued on September 11, 2019 which applies to all entities carrying on a Relevant Activity in the UAE, including entities established in Free Zones and Financial Free Zones.

Such entities must exhibit demonstrable Economic Substance as of April 30, 2019 and make reports and notiﬁcations to the Regulatory Authority as from January 2020 and thereafter or will risk ﬁnes and administrative penalties.

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OUR DIFFERENCE

What Sets Us Apart

Methodology & Clear Advice

Knowledge of UAE Legislation & BEPs

Experience of MOF & Authority Processes

Under the Legislation, every Trade License Entity and associated relevant activity must be reported separately.

Our trained consultants will help you understanding the impacts & risks, whether it applies to your business, how to address the notification requirements and manage the reporting obligations on an ongoing basis.

If your business receives income from a Relevant Activity and your business requires expert support, we can help minimise risks and costs.

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*Initial Consultation is FREE

OUR EXECUTION

How We Deliver

Consult

Our advisor will undertake an assessment to review your entity to determine Central Management & Control and Relevant Activities

Notification

We can support your mandatory notification submission and provide a high level analysis of ESR

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Implement

We undertake an assessment of compliance gaps and reporting to cost effectively manage meet Legislation requirements

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Want to Improve Cost & Performance?

We’ll provide best practice quality processes, expertise and platforms to run your business more effectively.

"Simply Solved is pretty amazing when it comes to helping us with our VAT filling. We don't have much information with regarding to the New VAT Law of Dubai but with SimplySolved guiding us, we easily managed our VAT in no time."

"Simply Solved helped us very well to reduce our VAT issues, they are providing us extremely good and proper service including a platform.”

Feel free to contact us for any clarification."

"Our transactions are complex and we were unsure how to manage the new VAT rules, with Simply Solved they helped us fully comply to the FTA and submit our report with all the details available for us to understand"

"Simply Solved employees are helpful and cooperative

With Simply Solved everything is SIMPLY SOLVED."

Thank You.

-EXIM JEWELLERS L.L.C

LEARNING MATERIAL

Tools & Resources

Our guides and resources are designed to help your business gain valuable insights and learn at your own pace.

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Economic Substance Regulation UAE Guidance Issued

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Economic Substance Regulations

The United Arab Emirates (UAE) Government has taken a progressive step in its commitment to comply with international good governance standards by ratifying Resolution No.31 of 2019, concerning Economic Substance Regulations in the UAE, “the Regulations” on April 30, 2019.

The UAE Economic Substance (ES) rules have been designed to follow the guidance issued by the European Union (EU) and Organisation for Economic Co-operation and Development (OECD).

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