The UAE Cabinet of Ministers has issued Ministerial Decision No. 100 of 2020 with updated guidance on the UAE Economic Substance Regulations (ESR) regime. The Ministerial Decision also included an updated Relevant Activities Guide. We urge all valued clients to take note of these important changes grouped and summarised in this announcement for your convenience; including a new requirement to re-file Notifications through the Ministry of Finance portal, once available. This re-filing is required only by the licensees carrying out ESR Relevant Activities who have made their submissions in the past to RAKEZ directly. This step is also required from licensees who were previously out-of-scope, but are now in-scope as per the recent update. To view the updated Relevant Activities Guide, please click here. HIGHLIGHTS OF THE MINISTERIAL DECISION UPDATES Overview of amendments to In-Scope Entities Licensees Exempted Entities Treatment of branches Amendments to Relevant Activities Definition of a Distribution and Service Centre Business Definition of a High Risk IP Licensee Appointment of UAE Federal Tax Authority as the National Assessing Authority National Assessing Authority Amendments to Filing Requirements and Processes Clarification to Relevant Income definition CLICK HERE TO READ THE DETAILED UPDATES Please note that the Ministry of Finance website has been updated to include the latest documents and developments. We will keep you updated on any new filing requirements once announced by the official authorities.
The UAE Cabinet of Ministers has issued Ministerial Decision No. 100 of 2020 with updated guidance on the UAE Economic Substance Regulations (ESR) regime. The Ministerial Decision also included an updated Relevant Activities Guide.
We urge all valued clients to take note of these important changes grouped and summarised in this announcement for your convenience; including a new requirement to re-file Notifications through the Ministry of Finance portal, once available. This re-filing is required only by the licensees carrying out ESR Relevant Activities who have made their submissions in the past to RAKEZ directly. This step is also required from licensees who were previously out-of-scope, but are now in-scope as per the recent update.
To view the updated Relevant Activities Guide, please click here.
HIGHLIGHTS OF THE MINISTERIAL DECISION UPDATES
Overview of amendments to In-Scope Entities
Amendments to Relevant Activities
Appointment of UAE Federal Tax Authority as the National Assessing Authority
Amendments to Filing Requirements and Processes
Clarification to Relevant Income definition
CLICK HERE TO READ THE DETAILED UPDATES
Please note that the Ministry of Finance website has been updated to include the latest documents and developments.
We will keep you updated on any new filing requirements once announced by the official authorities.
Kindly be informed that our working hours during Ramadan will be 9:00 AM to 2:00 PM, Sunday to Thursday. Therefore, the last service ticket will be issued at 1:00 PM. We will continue receiving your service requests on RAKEZ Portal 360, which is accessible anytime and anywhere. Wi... Read More
Kindly be informed that our working hours during Ramadan will be 9:00 AM to 2:00 PM, Sunday to Thursday. Therefore, the last service ticket will be issued at 1:00 PM.
We will continue receiving your service requests on RAKEZ Portal 360, which is accessible anytime and anywhere.
Wi...
Kindly be informed that on Thursday, 8 April 2021, our offices will close at 1:00 PM. Therefore, the last service ticket will be issued at 12:00 PM. Our offices will resume to their normal working hours, from 8:00 AM to 4:00 PM, on Sunday, 11 April 2021. Thank you for understandin... Read More
Kindly be informed that on Thursday, 8 April 2021, our offices will close at 1:00 PM. Therefore, the last service ticket will be issued at 12:00 PM.
Our offices will resume to their normal working hours, from 8:00 AM to 4:00 PM, on Sunday, 11 April 2021.
Thank you for understandin...
We would like to remind you that your company’s PO Box with Emirates Post has expired on 31 December 2020. Please renew before 25 March 2021 to avoid late renewal charges from Emirates Post. To renew your P.O. Box, simply email your licence copy and PO Box number to Read More
We would like to remind you that your company’s PO Box with Emirates Post has expired on 31 December 2020.
Please renew before 25 March 2021 to avoid late renewal charges from Emirates Post.
To renew your P.O. Box, simply email your licence copy and PO Box number to Read More