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 KGRN helps in completing UAE Economic Substance Requirements- KGRN helps in completing UAE Economic Substance Requirements
- May 21, 2020
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What is Economic Substance Regulations (ESR) in UAE.?
As part of the UAE’s commitment as a member of the OECD Inclusive Framework, and in response to an assessment of the UAE’s tax framework by the European Union (“EU”) Code of Conduct Group on Business Taxation, the UAE introduced a Resolution on the Economic Substance (Cabinet of Ministers Resolution No.31 of 2019, the “Regulations”).
Guidance that provides further clarity on the application of the Regulations was issued on 11 September 2019. The Regulations require UAE onshore and free zone companies and other UAE business forms that carry out any of the “Relevant Activities” listed below to maintain an adequate “economic presence” in the UAE relative to the activities they undertake.
Scope of the ESR in UAE.
The scope of the Economic Substance Regulations -ESR in Dubai has made it clear that the regulation applies to ...
- View more at: https://www.1888pressrelease.com/kgrn-helps-in-completing-uae-economic-substance-requirements-pr-674832.html
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