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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.

OUR DIFFERENCE

What Sets Us Apart

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Methodology & Clear Advice

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Knowledge of UAE Legislation & BEPs

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Experience of MOF & Authority Processes

Tax Residency Certificate UAE

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.

*Initial Consultation is FREE

OUR EXECUTION

How We Deliver

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Consult

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

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Notification

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

Implement

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

Want to Improve Cost & Performance?

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

Outsource Accounting & VAT

"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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CASE STUDIES

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WHITEPAPERS

Avoid These Accounting Platform Implementation Mistakes

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Manual Vs Systemised Financial Reporting

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A Guide to Liquidation of Companies

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Making the right decision for your outsourced Accounting & VAT Partner?

Making the right decision for your outsource Accounting & VAT Partner?  Outsource Accounting & VAT   For any start-up, small or medium-sized company, outsourcing your accounting & VAT to an experienced and qualified partner is a credible option...

Are you sure you are 100 percent VAT compliant?

Are you in the position of being confident that everything is compliant to the UAE VAT law and then suddenly get fined because of noncompliance; and it turns out that it is something so simple that could have been easily avoided?

Start Ups In The UAE – Why You Need CFO-IN-A-BOX?

The UAE is the preferred and burgeoning regional destination for start-ups and small businesses.

5 Proven Cost Management Strategies for Business

Business can be tough when supply exceeds market demand. This is the time when businesses should pay closer attention to costs. Ask yourself “how much sales do we need to generate profit of $1” and this simple question will bring into sharper focus of the benefit of having a more effective cost management.

Your Cashflow, Your Company’s Future.

Many SMEs, especially those who are just starting a business, often overlook the management of cash coming in and out of their business. It is a common error thinking that if money is coming in, the business is performing and will have sufficient resources to pay for its purchases and expenses. Cash is key to the survival of your business and ignoring the needs for an accurate cashflow management process can lead to shocks that could cripple your business.

Salon – Controlling Cash Process

A salon owner operated several branches across the UAE providing ladies cosmetic and beauty services.

Restaurant Case Study – Improving Service & Performance

For a local restaurant business owner, controlling their operations remotely had always proved to be a challenge. They had employed a manager to run
daily operations, but accurate and timely reporting was a challenge with the owner receiving excel
reports for limited information.

LET'S TALK

Schedule a Consultation

Whether you have an existing finance, HR, IT and marketing function operating its own system and process or a small company needing a complete outsource services, we have the flexibility to serve your business.

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Office M11, Curve Building,
Sheikh Zayed Rd Dubai Al-Quoz 3 Dubai,
PO Box 116701 United Arab Emirates

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