Recent changes to the UAE Economic Substance Regulations (ESR).
In accordance with Cabinet Resolution No. 98 of 2024, ESR requirements have been cancelled for all financial years ending on or after January 1, 2023. This means:
- No Notifications or Reports: Businesses are no longer required to submit ESR notifications or reports to the UAE Ministry of Finance for the stated periods.
- Revoked Penalties: Any penalties related to financial years ending after December 31, 2022, are now void.
We are available to assist with any questions or further clarifications.
