The Ministry of Finance (MoF) has extended the deadline for all UAE based companies to file their Economic Substance Regulation (ESR) Notifications and (if necessary) ESR Reports to 31st January 2021. All companies in the UAE that engage in a “relevant activity” must submit an annual ESR notification and , if applicable, an ESR Report to both the regulatory authority … Read More
UAE Economic Substance: MoF issues Covid-19 Industry Advisory Notification
On 28th May, the UAE Ministry of Finance (MoF) issued a Covid-19 Industry Advisory Notification (IAN). The IAN relaxes certain requirements prescribed under the UAE Economic Substance Regulations (ESR) for the period affected by Covid-19. The measures are in line with those implemented recently by offshore jurisdictions such as Jersey, BVI, Guernsey, and Bermuda. ESR applies to every company licensed … Read More