UAE Economic Substance Regulations (ESR) Compliance

Under the UAE Ministry of Finance Guidelines on Economic substance Regulation, for businesses engaged in any of the ESR relevant activities, the due date for filing ESR notification is six months from the end of the financial year. If the business has generated income from the relevant activities, (unless exempt) the ESR Report needs to be filed within twelve months from the end of the financial year. 

                    Deadline for ESR compliance:


Financial year end

Due date of ESR notification (as applicable)

Due date of ESR report (as applicable)
30th June 2020 31st Jan 2021
  (Extended Deadline)
30 June 2021
31st Dec 2020 30th June 2021 31st Dec 2021
31st Mar 2021 30th Sept 2021 31 March 2022
30th June 2021 31st Dec 2021 30th June 2022

Penalties on non-compliance with ESR obligations

To avoid such penalties the companies need the professional assistance. RVG Chartered Accountants has highly qualified consultants who assist the companies in meeting the Economic Substance Test.     

     

RVG provides services such as

ESR Assessment | Support on ESR notification | Advisory Support on Compliance with Economic Substance Test | Support on ESR Reporting