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ESR Notifications for the financial year ending March 2021 are due on 30 September 2021.
The Economic Substance Regulations (ESR) apply to companies and other business entities registered in the UAE, including in the Free Zones, that carry out any of the following Relevant Activities during the financial year:
If the Company carries out one or more of the relevant activities during the financial year, it must comply with the following ESR requirements:
| Financial Year Ending on | Notification Due Date | Return Due Date |
|---|---|---|
|
31st Mar 2021 |
30th Sep 2021 |
31st Mar 2022 |
|
30th Jun 2021 |
31st Dec 2021 |
30th Jun 2022 |
| Non-compliance | Amended Penalty Amount AED |
|---|---|
|
Failure to submit a Notification: |
20,000 |
|
Failure to submit an Economic Substance Report |
50,000 |
|
Providing inaccurate information |
50,000 |
|
Failure to pass ES Test for first year |
50,000 |
|
Failure to pass ES Test for the consecutive year |
400,000 |
If you would like our assistance in handling the High-level ESR Assessment and assisting you with the submission of the ESR Notification and report within the deadline, then please let us know. You can rely on us for the best ESR Compliance services.
+971 524754007Truly, let us know what service you are looking for and hence we can get back to you with more details.
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