by PREMA Team | Oct 15, 2024 | ESR
The UAE Cabinet has issued Decision No. 98 of 2024, which amends the Economic Substance Requirements (ESR) originally set forth in Cabinet Decision No. 57 of 2020. Key updates include: End of ESR for Financial Periods Starting in 2023 From January 1, 2023, onwards,...
by admin | Jan 7, 2022 | ESR
What is the purpose of the Notification? The purpose of the Notification is to provide the Regulatory Authorities with certain initial information in respect of Licensees and their activities in the UAE for the relevant Reportable Period. The information provided as...
by admin | Dec 27, 2021 | ESR
UAE companies are encouraged to review their obligations under the Economic Substance Regulation (ESR). By 31 December 2021, ESR filings must be submitted through the Ministry of Finance Portal. Noncompliance may result in significant penalties. Overview In response...
by admin | Nov 11, 2021 | ESR
What are the steps in filing an appeal? Since all submittals of ESR Notifications and ES Reports are done through the Ministry of Finance (“the MOF”) portal, Licensees and Exempted Licensees must log in to their existing accounts on the MOF portal to submit the...
by admin | Oct 11, 2021 | ESR
The Regulations require UAE onshore and free zone companies and certain other business forms that carry out any of the defined “Relevant Activities” listed below to maintain and demonstrate an adequate “economic presence” in the UAE relative to the activities they...
by admin | Jun 17, 2021 | ESR
It is time to conduct the review of the business to assess ESR applicability. In case there are any Relevant Activities, the business may be required to submit a ESR notification on or by 30 Jun 2021. The period under review will be Jan 1, 2020 to Dec 31, 2020. In...
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