Learn about the latest updates in Tax, Indirect Tax, and International tax in the UAE and GCC Region.
Learn about the latest updates in Tax, Indirect Tax, and International tax in the UAE and GCC Region.
UAE Ministry of Finance amends Economic Substance Regulations
The financial services sector is one with complex transactions and new products evolving continuously due to various factors including technological developments. These complexities and the progression have a direct impact on the tax landscape, and hence, we have gathered our FS and Tax experts for an insightful discussion on some of the key tax issues revolving around the FS sector in the UAE.
With respect to Economic Substance Regulations, the Central Bank of the UAE has recently announced a notification filing update to be carried out through the Central Bank Services Portal.
Following the introduction of the Economic Substance Regulations ("ESR") in the UAE back in 2019, all the UAE-registered licensees are required to submit an annual notification to their respective Regulatory Authority.
With respect to Economic Substance Regulations, Dubai international Financial Center has recently announced a notification filing update to be carried out through the DIFC Client Portal.
Following the introduction of the Economic Substance Regulations (“ESR”) in the United Arab Emirates (“UAE”), all Licensees are required to submit an annual notification to their respective Regulatory Authority (trade license issuing authority).
As a member of Organisation for Economic Development and Cooperation (“OECD”), and in response to an assessment of the UAE’s tax framework by the European Union Code of Conduct Group, the UAE has committed to ensuring standards related to Base Erosion and Profit Shifting (“BEPS”) are implemented.
As a member of Organization for Economic Development and Cooperation (OECD), and in response to an assessment of the UAE’s tax framework by the European Union Code of Conduct Group, the UAE has committed to ensuring standards related to Base Erosion and Profit Shifting (BEPS) are implemented.
As a member of Organization for Economic Development and Cooperation (OECD), and in response to an assessment of the UAE’s tax framework by the European Union Code of Conduct Group, the UAE has committed to ensuring standards related to Base Erosion and Profit Shifting (BEPS) are implemented.
The gender diversity issue has been on the business agenda for many years now, yet a third of businesses still have no women at a senior management level. We know that significant performance benefits come with having a diverse leadership team and there are certainly a large number of women capable of joining such teams.
The gender agenda and the benefits of having a diverse board and workplace has long been studied, yet we still see no significant change.