Economic Substance Regulation (ESR) Consulting Services
The UAE has implemented the Economic Substance Regulations (ESR) to guarantee that enterprises involved in specific activities exhibit adequate economic substance within the country, in keeping with its commitment to comply with international tax standards established by the OECD and the European Union. High fines, financial risks, and damaged reputations may arise from noncompliance. To assist companies in dealing with these rules and maintaining complete compliance, ALIF Accounting and Tax Consultant offers thorough ESR consulting services.
ESR Requirements and Compliance
Economic Substance Test
Demonstrating that the company has adequate employees, physical presence, management, and operating expenditure in the UAE.
Annual Reporting
Filing an annual Economic Substance Report and notification to the regulatory authority, outlining the company’s compliance with the ESR requirements.
Demonstration of Core Income-Generating Activities (CIGA)
Ensuring that relevant activities are conducted in the UAE, and the necessary economic substance is demonstrated.
ALIF Accounting and Tax Consultants offers thorough ESR consulting services, To assist companies in dealing with these rules and maintaining complete compliance,
Who Does ESR Apply To?
The UAE’s ESR applies to any company or legal entity engaged in one or more of the following Relevant Activities
- Banking businesses
- Lease-Finance businesses
- Insurance businesses
- Headquarters businesses
- Shipping businesses
- Holding Companies
- Intellectual Property businesses
- Investment Fund Management businesses
Why Choose ALIF Accounting and Tax Consultants for ESR Consulting?
Choosing ALIF Accounting and Tax Consultants for your ESR compliance needs ensures that your business is equipped with the knowledge, tools, and strategies necessary to meet the stringent requirements of the Economic Substance Regulations.
Customized Solutions
We provide tailored ESR compliance strategies based on your company’s specific industry, size, and business model.
Expertise
Our team of ESR consultants has in-depth knowledge of UAE regulations and international tax standards, ensuring you stay compliant.
End-to-End Support
From the initial assessment to ongoing compliance monitoring, we offer complete ESR services to safeguard your business.
Timely Reporting
We ensure all ESR filings and notifications are completed accurately and submitted on time, avoiding costly penalties.
Ensure Compliance and Avoid Penalties
With the UAE’s Economic Substance Regulations in place, it is essential for businesses engaged in Relevant Activities to meet the compliance requirements. Failing to do so can result in significant financial penalties, legal issues, and reputational damage. At ALIF Accounting and Tax Consultants, we provide comprehensive ESR solutions to help your business stay compliant, protect your interests, and thrive in the UAE market.