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New UAE Economic Substance Regulations Passed


Friday, December 11, 2020
Background
The European Union (EU) has a blacklist of countries that do not meet the EU’s criteria on tax transparency, fair taxation, and the implementation of measures to counteract base erosion of profit shifting (BEPS). The EU’s efforts to combat tax evasion go beyond the jurisdiction of the EU.
The UAE Government introduced Economic Substance Regulations in 2019 as a response to being blacklisted by the EU for tax purposes following an assessment of the UAE’s tax framework by the EU Code of Conduct Group on Business Taxation. In late 2019, the EU removed the UAE from the blacklist.  ....

United Arab Emirates , Abu Dhabi , Abuz Aby , Department Of Economic Development , Registration Authority , Investment Fund Management Business , Registrar Of Companies , Regulatory Authority , European Union , Tax Authority , Holding Company Business , National Assessing Authority , Service Centre Business , Dubai International Financial Centre , Economic Substance Regulations , Conduct Group , Economic Substance , Cabinet Resolution , Economic Substance Requirements , Ministerial Decision , Ministers Resolution , Abu Dhabi Global Market , Relevant Activities , Company Business , Service Centre , Relevant Activity ,

The New UAE Economic Substance Regulations | K&L Gates LLP


Background
The European Union (EU) has a blacklist of countries that do not meet the EU’s criteria on tax transparency, fair taxation, and the implementation of measures to counteract base erosion of profit shifting (BEPS). The EU’s efforts to combat tax evasion go beyond the jurisdiction of the EU.
The UAE Government introduced Economic Substance Regulations in 2019 as a response to being blacklisted by the EU for tax purposes following an assessment of the UAE’s tax framework by the EU Code of Conduct Group on Business Taxation. In late 2019, the EU removed the UAE from the blacklist. ....

United Arab Emirates , Abu Dhabi , Abuz Aby , Department Of Economic Development , Kl Gates , Registration Authority , Investment Fund Management Business , Registrar Of Companies , Regulatory Authority , European Union , Tax Authority , Holding Company Business , National Assessing Authority , Service Centre Business , Dubai International Financial Centre , Economic Substance Regulations , Conduct Group , Economic Substance , Cabinet Resolution , Economic Substance Requirements , Ministerial Decision , Ministers Resolution , Abu Dhabi Global Market , Relevant Activities , Service Centre , Relevant Activity ,