Economic Substance Regulation (ESR) Compliance
The UAE's Economic Substance Regulations were introduced to address international tax transparency and harmful tax practices. However, the UAE Ministry of Finance subsequently confirmed that ESR notification and reporting requirements were cancelled for financial years ending after 31 December 2022. Businesses may still need to address historical ESR obligations and respond to information or amendment requests relating to earlier periods.
At Ritesh Arora & Associates, we assist businesses in assessing historical ESR exposure and maintaining appropriate documentation where relevant.
Our Process
How we deliver this engagement.
Applicability Review
Assess relevant historical activities and periods.
Substance Assessment
Review the entity's activities and economic presence.
Documentation Review
Examine historical records and supporting evidence.
Gap Identification
Identify potential compliance issues.
Regulatory Support
Assist with applicable queries and remediation.
Managing UAE Economic Substance Requirements
Our ESR Advisory Services Include
ESR Applicability Assessment
We review historical business activities and relevant activities to determine whether ESR requirements applied during the applicable periods.
Economic Substance Review
For relevant historical periods, we assess whether the entity's UAE activities, income, expenditure, assets, employees, and management arrangements supported the applicable substance requirements.
Historical Filing & Documentation Support
We assist with reviewing and addressing applicable ESR notifications, reports, records, and regulatory queries relating to prior financial years.
Regulatory Query Assistance
We support businesses in responding to requests for information or clarification from relevant authorities concerning historical ESR compliance.
Benefits
- Clear understanding of historical ESR obligations.
- Identification of potential compliance gaps.
- Organized supporting documentation.
- Assistance with regulatory queries.
- Better international tax governance.
Our ESR Compliance services help businesses address applicable historical obligations and maintain appropriate documentation in line with the UAE's evolving international tax framework.
Our general frequently asked questions
Find quick answers to common questions about our services, timelines, and engagement process.
VIEW ALL QUESTIONSOur prices are competitive and market-driven. However, we offer various payment plans and special offers for early buyers. Contact our team to discuss available options and any ongoing promotions.
You will typically need PAN cards, Aadhaar cards, photographs, and address proofs of the directors, along with the registered office address proof.