Economic Substance Archives - Fichte & Co Legal Legal Firm in Dubai Wed, 06 Sep 2023 08:52:13 +0000 en-US hourly 1 https://wordpress.org/?v=6.7.2 https://fichtelegal.arraytag.com/wp-content/uploads/2022/01/cropped-Favicon-32x32.png Economic Substance Archives - Fichte & Co Legal 32 32 NEW UPDATES: Economic Substance Regulations in the UAE https://fichtelegal.arraytag.com/update-economic-substance-regulation-uae/?utm_source=rss&utm_medium=rss&utm_campaign=update-economic-substance-regulation-uae Sun, 27 Sep 2020 09:51:10 +0000 Senior Associates]]> https://fichtelegal.arraytag.com/update-economic-substance-regulation-uae/ On 10 August 2020, The Cabinet of Ministers Issued Resolution No.57/2020 concerning Economic Substance Regulations (‘’Resolution 57’’). Resolution 57 amends and repeals the Cabinet of Ministers Resolution No. 31/2019, Cabinet Ministers Resolution No. 58/2019, and Cabinet Ministers Resolution No. 7/2020. Furthermore, following the issuance of Resolution 57, H.E the Minister of Finance issued new guidance …

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]]> The ‘Economic Substance Regulations’ – a New Test for the UAE Companies. How does it apply? https://fichtelegal.arraytag.com/economic-substance-regulation-uae-new-test/?utm_source=rss&utm_medium=rss&utm_campaign=economic-substance-regulation-uae-new-test Sun, 12 Apr 2020 09:12:04 +0000 https://fichtelegal.arraytag.com/economic-substance-regulation-uae-new-test/ Client update In 2019, the UAE Government issued a series of Directives and Resolutions, collectively referred to as the “Economic Substance Regulations” or the ESR. The purpose of the ESR is to curb harmful tax practices in UAE, in compliance with OECD international standards and with the guidelines issued by the European Union Code of …

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]]> Compliance Alert: 10 Things you Must Know about the New Economic Substance Regulations in the UAE https://fichtelegal.arraytag.com/new-economic-substance-regulations-uae/?utm_source=rss&utm_medium=rss&utm_campaign=new-economic-substance-regulations-uae Mon, 29 Jul 2019 01:51:01 +0000 https://fichtelegal.arraytag.com/new-economic-substance-regulations-uae/ Executive Summary The UAE recently enacted the Cabinet Decision No. 31/2019 concerning the economic substance regulations (the “Regulations” or the “Economic Substance Regulations”) on 30 April 2019 in response to the European Union (EU) adding the UAE to the blacklist of non-cooperative jurisdictions for tax purposes in March 2019. The Regulations primarily apply to companies …

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