• UAE Economic Substance regulations

UAE Economic Substance regulations

14 July 2019

UAE recently published the Economic Substance regulations which require certain businesses to demonstrate that they have genuine substance in the UAE. They also bring new reporting requirements. Non-compliance may result in penalties, loss of tax treaty reliefs and revocation or non-renewal of trading licences. The regulations are part of the OECD recommendations on the prevention of harmful tax practices.

Read more about the update here