Economic Substance Regulation Update

24 June 2020 @ 1:00 PM – 2:00 PM
Live Webinar

Join the Pakistan Business Professional Council Abu Dhabi for a joint webinar organized by the Canadian Business Council (CBC) Abu Dhabi for a live webinar in collaboration with PKF International Limited on the topic: Economic Substance Regulation Update.

As per the Economic Substance Regulation, all UAE onshore and Freezone companies and other UAE business forms are required to notify to the Relevant Authorities as to whether they are conducting the relevant activity or not as per the regulation and required to file the necessary details as mentioned in the notification form. The notification deadline for entities licensed in Abu Dhabi Global Market (ADGM) is 30 June 2020.

Expert speaker, Sarika Dhameja, Head of Tax Services, PKF will be presenting the following topics:

A brief background on the introduction of Economic Substance Regulations in the UAE
Overview of Economic Substance Regulations (ESR) rules implemented in UAE comprising of 9 Relevant Activities:
o Banking
o Insurance
o Fund management
o Lease-finance
o Headquarters
o Shipping
o Holding company
o Intellectual property (IP)
o Distribution and service center
Requirements of Economic Substance Rules
o Conduct CIGAs in the UAE;
o Demonstrate fulfilling of Substance Test pertaining to Relevant Activities conducted in the UAE.
Reporting Requirements
– Compliance
o Filing of Notification as per prescribed timelines
o Filing of the detailed report if UAE entity conducts a relevant activity
– Penalties for Non-Compliance

Sarika Dhameja, Head of Tax Services, PKF UAE
Sarika has 20 plus years of experience in Taxation including International Taxation, Indirect-taxes, inbound and outbound tax planning, optimization of taxes in Global contracts, Acquisition structuring, and Transfer pricing. She actively handled the implementation of VAT in UAE, Service-tax in India, and several other tax-related implementations such as Fringe Benefit Tax, General Anti-Avoidance Rules, BEPS projects, etc.

PBPC members and non-PBPC members: Complimentary

Participating Business Councils:

– AmCham Abu Dhabi
-Canadian Business Council Abu Dhabi
-Pakistan Business Professional Council Abu Dhabi
-Swiss Business Council Abu Dhabi

Leave a Reply