The UAE is a part of the OECD Inclusive Framework, which works to improve the transparency and accountability of economies. It implemented the Economic Substance Regulations UAE EY Global reports around April 2019. The norms for Economic Substance Dubai came into force in January 2019, placing further compliance norms on companies within the country. These guidelines help strengthen the UAE’s credibility and helped remove itself from the EU’s tax blacklist. The Regulation adds two filing requirements for companies to maintain compliance, which is as follows;
- Economic Substance Regulations UAE Notification
- Annual substance return form
An Economic Substance Regulations UAE form is required to be submitted by any and all qualified entities that engage in Relevant Activities within the United Arab Emirates. The regulatory authorities that are responsible for such matters make decisions about the format, substance, and time for the submission of such documents. In order to assist enterprises in meeting the standards of the Economic Substance, KGRN Audit Firm provides assistance. Also, we provide assistance to corporations in evaluating whether or not they are eligible and in completing the appropriate returns.
All eligible companies have to submit annual Economic Substance Regulations UAE Notification to concerned authorities. An annual substance return form must follow these Economic Substance Regulations Form. Failure to comply with these norms may lead to penalties and even the suspension of the company’s license.
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- We help provide you with international market exposure, and our team of experienced professionals will give top-notch business advice.
- KGRN have a simple, yet elegant and business-friendly approach which leads to a quick resolution of all issues and queries.
- We offer adaptable and flexible services that will help you with all your legal requirements
- Also, we maintain a high level of privacy regarding your details.
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