02/08/2022
Significance of ESR compliance for businesses in UAE...
The ESR regulation requires the UAE - based businesses, whether onshore or offshore to carry out the self-assessment and se for themselves whether the regulations are applicable to such businesses or not.
If the businesses conducting self-assessment are found carrying out the activities falling within the ambit of the Relevant Activities defined under the ESR are under obligation to satisfy the mandatory Economic Substance Test and do the necessary reporting.
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https://www.freemontgroup.com/media/articles/2022/3552/