UAE Economic Substance Regulations were introduced in 2019 and are applicable for period beginning on or after January 1, 2019. This Video covers the reason for Introduction of ESR and Recent Developments.
A Licensees undertaking a Relevant Activity needs to submit a simple notification with its Regulatory Authority , even if they qualify for an exemption under the Regulations or have not earned income from the Relevant Activity during the relevant financial period
Licensees that earn income from a Relevant Activity during the relevant financial period and are not exempt from the Regulations are required to demonstrate economic substance in the UAE and file an economic substance return within 12 months from the end of the relevant financial period.
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