Economic Substance Regulation

Transactions created without ‘economic substance’ and lack transparency on ultimate beneficiary have raised global concern as they veil the real purpose of the transactions and facilitate money laundering and tax avoidance from home country. International cooperation organizations, like Organization for Economic Co-operation and Development (OECD) under its BEPS Project, and European Union (EU), under its Code of Conduct Group are annually assessing zero or low tax jurisdictions and recommending introduction of regulations of economic substance.

Doctrine of ‘economic substance’ is applied to disentangle economic substance and tax avoidance by applying certain test to unravel real nature of transaction.

UAE Government has issued the Resolutions by Cabinet of Ministers No. (31) of 2019 concerning Economic Substance & guidance on same.

Our team of experts is available to guide you with respect to Economic Substance Regulation & assist with necessary compliances.

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GBSOur Office
Organically grow the holistic world view of disruptive innovation via empowerment.
+971 4 4471803
OUR LOCATIONWhere to find us?
For company formation and company incorporation services please contact us at our mailing address:

Office No.12A-06,
13th floor HDS Tower,
Plot No. F2,
Jumeirah Lakes Towers,
Post Box 309074,
Dubai (U.A.E)

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AVANTAGEHeadquarters
Organically grow the holistic world view of disruptive innovation via empowerment.
OUR LOCATIONSWhere to find us?
GET IN TOUCHAvantage Social links
Taking seamless key performance indicators offline to maximise the long tail.
AVANTAGEHeadquarters
Organically grow the holistic world view of disruptive innovation via empowerment.
OUR LOCATIONSWhere to find us?
GET IN TOUCHAvantage Social links
Taking seamless key performance indicators offline to maximise the long tail.

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Copyright © 2020 Global Business Services.

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