We offer dependable bookkeeping and accounting services for streamlined financial management. Our team guarantees accurate and timely reporting, from record-keeping to tax preparation. Contact us for more info. Let us show you how we can meet.
We offer tailored auditing and assurance services to meet your business requirements. Our team of knowledgeable professionals delivers objective opinions in line with regulations and industry standards. Email us We will respond you soon
We provide expert tax services for accurate and timely tax returns. Our team offers planning, preparation, and compliance services, keeping up-to-date with current tax laws. Contact us to save time and money with reliable and efficient tax assistance. Call & Talk with our expert
If you're looking to establish a business in the UAE, we can assist you every step of the way. Our team of experts has extensive knowledge in company formation and registration in the UAE and can provide you with customized solutions tailored to your specific needs.
Economic Substance Regulations
The United Arab Emirates (hereafter: “UAE”) has enacted the Economic Substance Regulations (hereafter: ”the Erstwhile Regulations”) on 30th April 2019, which requires companies to have substantial activities in the UAE, taking into account the global standards developed by the OECD and the EU for business taxation to prevent harmful tax practices and to be removed from the EU’s list of non-cooperative tax nations. Professional Tax Consultant in Dubai
The Economic Substance Regulations brings the specific requirements for businesses to demonstrate that their actual economic activity is in UAE and it is not driven solely to benefit from a low or non-tax jurisdiction. Thus, preventing the harmful tax practice of profit shifting from high-tax jurisdiction to low tax regimes.
Comprehensive Assessment and Gap Analysis
If your business is within the scope of the Amended Regulations, analyze and identify whether the business fulfills the Economic Substance Test under the Amended Regulations and identify the non-compliant aspects if the criteria of the Amended Regulations are not met.
Corporate Actions to Meet Economic Substance Test
Suggestions and implementation of corrective or preventive corporate actions to fulfill the requirements of the company under the Economic Substance Test.
Identify whether your business is within the scope of the Amended Regulations by analyzing whether the company is a Licensee conducting Relevant Activity in the Reportable Period. We identify the compliance requirements for the company.
Assistance in filing / re-filing the Notification and Substance Return with the Ministry of Finance. Ongoing review services to ensure ongoing compliance of the company with the Amended Regulations. Assistance in preparing any documentation, or review of information that needs to be submitted to authorities.
What is a UBO?
Obligations of companies under UBO Regulations
Under the UBO Regulations, a company must maintain the following:
The UBO Regulations provide a comprehensive framework on reporting and registering beneficial interests (including identities of UBOs) and nominee directors. The UBO Regulations will aim to promote transparency, prevent financial fraud and tax evasion, and improve corporate governance in the UAE. It is advisable for UAE companies to contact their legal and professional advisors to ensure compliance with the UBO Regulations.
UAE is one of the easiest countries to do business in the world, as proved by the “Ease of Doing Business” Index released every year. This is largely due to factors that attract investors to UAE such as the financial institutions, trade policies, and the safety of doing business in a friendly economy that is focused on growth. If you are dynamic entrepreneurs or organizations, do not wait to see what tomorrow will bring, instead of shape your futures today.
As an expert team of consultants and advisors, we at EMT are committed to providing clear, practical business advisory and consultancy services in Dubai and all over UAE to drive the transformation to your organization’s future; help you fine-tune your optimal performance; help you achieve your business/firm objectives and convert your value to becoming agile, forward-thinking organizations that are ready for business challenges.
We provide the following as part of our Business Advisory Services:
A successful business planis part of proper planning ensuring how a company manages and grows the business in the long term. Comprehensive business plans include the following:
Team EMT is well-equipped to advise and take care of your requirements in any kind of business advisory service. If you need any assistance in addressing your queries or require further information
From 1 December 2019, excise tax will be levied also on: