Natural persons, Sole proprietorships, Trusts and Foundations – ESR
Natural persons, Sole proprietorships, Trusts and Foundations are not covered under the definition of a Licensee for Economic Substance. For […]
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Absence of income from relevant activities – ESR
A Licensee is not required to demonstrate economic substance in the absence of income from relevant activities File your Notification […]
Offshore companies – ESR
Offshore companies carrying on relevant activities as per Economic Substance Regulations (ESR) including Holding Company business are required to submit […]
Multiple Local Branches – ESR
Licensees having multiple local branches with relevant activity are now required to submit a consolidated Notification and Report. File your […]
Lease-finance Business – ESR
A Licensee engaged in or a part of cash-pooling arrangements is covered under Lease-finance Business Relevant Activity File your Notification […]
Service Centre Business – ESR
Licensees engaged in the business of cost-recharges and/ or reimbursements with or without mark-ups to Foreign Connected Persons are covered […]
Distribution Centre Business – ESR
Licensees purchasing from foreign connected persons and engaged in high-sea sales, Third port Shipment, drop-shipments, bill to ship to transactions, […]
Penalties for failure to submit the ESR notification and report within timeline
Failure to submit ESR notification – Penalty of AED 20,000 Failure to submit ESR report – Penalty of AED 50,000 […]
What are the registration rules in case of non-resident in UAE?
No registration is required for non-resident providing taxable supplies in UAE, where a UAE resident person is responsible for its […]
Do we need to keep mandatory books of accounts for VAT?
Yes there are a certain sets of documents to be kept by all registered persons for VAT, as per the […]