Join our virtual webinar to know more about the above and other important amendments to the UAE Economic Substance Regulations on Sunday, 6 September 2020 | 3:00pm - 4:00pm GST
On 10 August 2020, the UAE Cabinet of Ministers issued Cabinet Resolution No. 57 of 2020 (the “amended ES Regulations”) which repeals and replaces the original ES Regulations, along with updated Guidance clarifying the amended ES Regulations (Ministerial Decision 100 of 2020 dated 19 August 2020). For more details please refer to our latest news alert.
The amended ES Regulations introduce important changes that should help reduce the overall burden on businesses in the UAE. Specifically, the following types of businesses are no longer within the scope of the regulations, or are exempted from having to meet the economic substance test and associated return filing obligations:
• Natural persons, sole proprietors, trusts and foundations • UAE entities that are tax resident outside the UAE • Investment Funds • Entities that are wholly owned by UAE residents and that are not part of a multinational group and only carry out business activities in the UAE • UAE branches of a foreign head office / parent whose relevant income is subject to tax in the jurisdiction of the foreign head office / parent
We are hosting a free webinar, where we will be highlighting the critical amendments to the Economic Substance Regulations. Our experts will be available for an interactive Q&A session towards the end of the webinar.
Date: Sunday, 6 September 2020 Time: 3:00pm - 4:00pm GST