Have any questions ? enquire@risiansaccounting.com    +971 585919051
Auditing, VAT, Accounting & Business Consultancy Services in UAE
News Image

How Audit Firms Can Help You to File ESR Notification & Report In Such a Short Notice?

ESR 2021-01-09

Article 8 of the Cabinet Resolution 57 of 2020 sheds light on the notification and reporting requirements that the entities must meet to comply with the ESR. It states that every Licensee is now required to file annual ESR notification to the relevant Regulatory Authority. Audit firms in Dubai will assist you in filling the notification with the following mandatory details :

  1. Whether the business entity has carried out a relevant activity or not
  2. Whether the company has generated any income from the relevant activity

 

The notification will be filed through the Ministry of Finance's dedicated online portal. The notification will be processed between the regulatory authorities and the Federal Tax Authority (FTA), which is the National Assessing Authority for the ESR.

The FTA, in its capacity as a National Assessing Authority, will oversee compliance and control of the Updated ESR. FTA, among other things, will also assess if the Licensee has met the Economic Substance Test. It will also decide the necessary course of action to follow if your entity fails to meet the ESR test.

Author image
Source of content >>
From:   Khaleej Times
SAVE BIG ON TAXES

Let’s connect and discuss how outsourcing can help you save on costs and scale your business.

SOFTWARE CAPABILITIES

software capabilities
software capabilities
software capabilities
software capabilities
software capabilities
software capabilities
software capabilities
software capabilities
software capabilities
software capabilities
software capabilities
software capabilities
RISIANS

My experience in working with this team is very much a positive one. Their professionalism is refreshing. Thank you for making the process a very pleasant experience.

Ms. Arshameh Parmoun Tag Properties
RISIANS

We have been working with RISIANS Chartered Accountants on a couple of assignments. At all times they are professional, organized with whatever assignments we have entrusted with them. Being a approved audit firm they are well aware with the regulations and compliances. I will recommend the team highly enough and shall certainly be engaging with them again and again in future assignments.

Moin Abbas Al Ajwad Auto Works
RISIANS

I would overall rate team RISIANS work as exceptional. The team was successful in delivering quality audit, irrespective of the tight deadline and it was way better than the predecessor. We can definitely build more knowledge for future.

Ajit G Vernekar AL SHAFAF REPACKING SERVICES
RISIANS

RISIANS proactiveness and precision towards managing our accounts and helping us constantly whenever we are in need of is a dynamic quality that makes us want to recommend to any company or an individual. Looking for a great accountants without any hesitation.

Aqeeb Aqeeb Internstional
CONTACT FORM
Office No-18, 25th Floor, Iris Bay Tower Business Bay, Downtown - Dubai - UAE

Enquiry

Let's do this!

Sit Back, Relax, and let us do it with our professional team.

ghrhryj