What is ESR ?
The ESR Regulations are issued for the global standard. Issued by Organization for Economic Cooperation and development Forum for Harmful Tax Practices to have a substantial business activities in the state.
How does it affect me ?
If your business comes under the below mentioned relevant activities then you have to put a notification and a report with the correct regulatory authority. So that the government can know that your business is working under the law. Failure to do this would lead to a fine of up to 300,000 AED. This is especially difficult if you are a small business and struggling to grow. Our team of experts will guide you through this whole process make sure that you don’t have to face any negative consequences.
RELEVANT ACTIVITIES
- Banking Business.
- Insurance Business.
- Investment Fund and management business.
- Lease- Finance business.
- Headquarters Business.
- Shipping Business.
- Holding Company Business- only dividend income and capital gain.
- Intellectual Property Business.
- Distribution and service Centre Business.
Full coverage of the ESR.
Our team of experts will help you in understanding the ESR and also help you understand if you will be affected by the ESR. If yes then how will it affect you and how to make sure that you are in line with the law.
ESR requires the company to release a notification in accordance with the law and the relevant regulatory authority. Our team will help you in preparing the ESR notification and making sure that the notification is line with the correct regulatory authority.
Notification is only one aspect, you also have to prepare a full report and submit it to the same regulatory authority to which you have provided the notification. Failure to do so would cause penalties on your business. Our experts will make sure that this doesn’t happen to your business.
How can we help.
If your business comes under the above mentioned relevant activities then we can help you manage this new ESR with ease and with the confidence so that your business would never have to face any negative impacts on your business.
