Insight on the introduction of the new Economic Substance Rules in the UAE
The United Arab Emirates (UAE) Cabinet issued the Economic
Substance Regulations requiring all UAE onshore and free zone
companies that conduct “Relevant Activities” to have demonstrable
economic substance in the UAE with effect from 30 April 2019.
UAE based companies will be required to report financial data on their
Relevant Activities on an annual basis to the regulatory authority.
Non-compliance with the rules will result in penalties.
On Wednesday, 3 July 2019, Deloitte hosted a webcast session on the introduction of the new Economic Substance Rules in the UAE. Our experts discussed:
- The newly introduced economic substance thresholds and related compliance requirements
- How the new requirements will impact UAE based businesses
- Deloitte’s approach to the new rules