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UAE
16 Jan 2020

Confused in ESR Rules & Regulations

Companies and certain other UAE business forms that undertake a Relevant Activity must comply with the Economic Substance Regulations, which includes the annual submission of a Notification and Economic Substance Report.To support businesses that may have been impacted by COVID-19 and temporary inaccessibility of the MoF Economic Substance Filing Portal, the Ministry of Finance has extended the deadline for businesses to submit their Notification and Economic Substance Report to 31 January 2021.

This is an exceptional, one-off extension of the filing deadline for businesses with a 2019 Reportable Period and businesses with a 2020 Reportable Period that are required to file their Notification by 31 December 2020. No further extensions will be granted, so businesses should make every effort to file as soon as possible and not wait until the end of the extended deadline.

We, BMS Auditing, can assist you in registering for Excise Tax, filing of Monthly Returns, registering your products with the Federal Tax Authority and provide advisory service on compliance of UAE Excise Tax Law.