New deadline looms: Ensure your business abides by UAE's economic substance rules
Can your firm demonstrate sufficient ‘economic substance’ in the UAE to avoid penalties?
Source: gulfnews.com
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January 31 deadline: Ensure your business abides by the new UAE economic substance rules
What are economic substance regulations? The Economic Substance Regulations, or ESR, was issued by the UAE and is aimed at curtailing harmful tax practices and closely tracks the global standard set by the OECD (Organisation for Economic Co-operation and Development). The Economic Substance Regulations, or ESR, was issued by the UAE and is aimed at curtailing harmful tax practices by non-domiciled business operators! - - As the UAE is a member of the OECD framework, in response to an assessment of the UAE’s tax framework by the European Union (EU) Code of Conduct Group on Business T...
Source: gulfnews.com