It is crucial for companies operating in the UAE to know new Economic substance regulations which may impact the business. Let us know more about the impact of the Economic substance regulations. Economic Substance Regulations (ESR) The UAE Government has brought the Economic Substance Regulations (Cabinet of Ministers Resolution No. 31 of the year 2019) on […]
The United Arab Emirates is one of the best places for setting up and conducting business. In the past, we have seen many reputed companies setting up their headquarters in the Middle East. In the Middle Eastern region, the United Arab Emirates is considered one of the best locations due to many reasons. Some of […]
The United Arab Emirates has gradually become one of the most attractive countries for setting up a business, and it is because of this reason there is an increase in the number of entities conducting business in the country. With the increase in business activities, there has also been an increase in fraudulent activities by […]
The increase in the people who are interested in conducting businesses in the country has been directly proportional to the fraudulent business activities in the United Arab Emirates. This means that we have seen an increase in fraudulent activities and tax evasion in the country. The Government of UAE has taken steps to tackle this […]
UAE issued Cabinet Resolution No 57 of 2020 (the “Amended ES Regulations”) on August 10, 2020, which repeals and replaces the original ES Regulations, along with updated guidance, which will clarify the amended ES Regulations (Ministerial Decision 100 of 2020 dated 19 August 2020). The amended ES Regulations apply from 1 January 2019. Major changes are highlighted […]
The Economic Substance Regulations (ESR) was introduced in the United Arab Emirates through the Cabinet Decision Number 31 of 2019. This regulation was implemented to reduce illegal tax practises and wrong doings in the business community. This regulation will put a stop to wrong tax practices followed in international business and will ensure that the […]
The European Union has performed a review of the tax framework of the United Arab Emirates, and in the review, it was found by the European Union hat certain conditions were not met. This led to the EU adding the UAE to the list of Non-Cooperative jurisdictions for tax purposes, which is also known as […]
As there was almost no tax levied on the companies in the United Arab Emirates, some of the companies abroad started taking undue advantage of this fact. They may have production of goods in some other country, but to save money, they will reroute the entire shipment through the United Arab Emirates by setting up […]
A review of the tax framework of the UAE was done by the European Union, and some of the criteria were to meet by the UAE, which led to the addition of the country to the EU list of Non-Cooperative jurisdictions for Tax Purposes, also known as the EU Blacklist. This, along with the fact […]
The Sharjah International Airport Free Zone is one of the favourite free zones for businessmen and entrepreneurs all over the world. This free zone strives to provide the best possible services to the members along with world-class infrastructure. It is currently the home for more than 5,500 companies from all around the globe. The introduction […]
