ESR Filing- Yuga Tax Consultancy

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    Nov 18, 2020
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ESR Filing- Yuga Tax Consultancy
The economic substance regulations (ESR), applicable from 2019 for all United Arab Emirates (UAE) legal entities with a commercial license, prescribe that quorate board of directors meetings are frequently held in the UAE. The international travel restrictions implemented as a measure to curb the COVID 19 outbreak mean that international groups with entities in the UAE should closely consider their corporate governance obligations in relation to the ESR and generally to potential overseas tax implications.
Every Licensee shall be required to meet the applicable Economic Substance Test requirements and submit an Economic Substance Report containing the requisite information and documentation prescribed under the ESR Regulations within twelve (12) months from the end of the relevant Financial Year.
The National Assessing Authority is subject to a six (6) year limitation period calculated from the end of the relevant Financial Year during which it must issue its decision in respect of whether a Licensee has met the Economic Substance Test. This six (6) year limitation period shall not apply if the National Assessing Authority is not able to make a determination during this period due to gross negligence, fraud, or deliberate misrepresentation by the Licensee or any other person representing the Licensee.
·         Economic Substance (ESR) Advising
·         Economic Substance (ESR) Testing
·         Economic Substance (ESR) Compliance
·         Economic Substance (ESR) Recording
·         Economic Substance (ESR) Notification Filing
·         Economic Substance (ESR) Return Filing

Why Choose Yuga Tax Consultancy for Your ESR Return Filing in the UAE

·         Reliable Business Valuations
·         Strong Valuation Experience
·         Experienced Valuation Analysts
·         Professional Valuation Reports

·         Our ESR Return Filing Procedure

·         Initial Assessment
·         We will assist the owners and/or the Company to identify potential buyers or sellers (as the case may be) and how these potential counterparties should be approached. Yuga Tax Consultancy network has the advantage of a global reach and allows us to search for potential counterparties both openly or confidentially.
·         Detailed Assessment
·         We will assist you to prepare your information package that tells the potential counterparties who you are and what you are looking for. Getting this package done right is important to maximize your reach to as many counterparties as possible. Such packages can be prepared on a confidential basis or a public basis.
·         Action Point
·         We will support you and your business in performing the necessary due diligence on the potential buyer or seller, as the case may be.
·         Compliance
·         We will support you and your business in performing any deal structuring or relevant negotiations, as the case may be.
United Arab Emirates
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