The Ministry of Finance is pleased to confirm that Economic Substance Filing Portal has been launched as of 1 December 2020 and is now live for businesses to file their Notifications and ES Reports. The Economic Substance Filing Portal can be accessed by businesses through the Ministry of Finance Economic Substance webpage.

The Economic Substance Regulations only apply to businesses carrying on a Relevant Activity. More information on what is a Relevant Activity can be found by clicking here

For many businesses, the first deadline for the submission of the Economic Substance Notification and Report on the Ministry of Finance filing portal will be 31 December 2020. It is important that businesses understand how to use the Ministry of Finance filing portal to file on time and avoid penalties of AED 50,000 under Article 14 of the Amended ESR.

Click here to read about the ESR Update.