DISPLAYING ITEMS BY TAG: Economic Substance

Jebel Ali Free Zone (Jafza) calls its valued customers to comply with the Economic Substance Regulations requirements to ensure its validity to avoid fines that are to be imposed by the Regulatory Authority through the designated system of the Economic Substance Regulations of the customers.

The requirements concerning the submission of the Economic Substance Regulations report are as follows:

Notification of Submission:

• The licensors and the exempted licensees are required to submit a notification within (6) months from the end of their financial year.

Submission of Report:

• The Licensees are required to submit their Economic Substance Regulation report within (12) months of the end of their financial year.

Kindly be informed that notifications are required to be filled by the 29^th of March 2022 as non-compliance with the obligations to file a notification is subject to a penalty.

To view the Ministerial Law No. (57) for the year of 2020, please click here.

Dubai Auto Zone (DAZ) calls its valued customers to comply with the Economic Substance Regulations requirements to ensure its validity to avoid fines that are to be imposed by the Regulatory Authority through the designated system of the Economic Substance Regulations of the customers.

The requirements concerning the submission of the Economic Substance Regulations report are as follows:

Notification of Submission:

• The licensors and the exempted licensees are required to submit a notification within (6) months from the end of their financial year.

Submission of Report:

• The Licensees are required to submit their Economic Substance Regulation report within (12) months of the end of their financial year.

Kindly be informed that notifications are required to be filled by the 29^th of March 2022 as non-compliance with the obligations to file a notification is subject to a penalty.

To view the Ministerial Law No. (57) for the year of 2020, please click here.

National Industries Park (NIP) calls its valued customers to comply with the Economic Substance Regulations requirements to ensure its validity to avoid fines that are to be imposed by the Regulatory Authority through the designated system of the Economic Substance Regulations of the customers.

The requirements concerning the submission of the Economic Substance Regulations report are as follows:

Notification of Submission:

• The licensors and the exempted licensees are required to submit a notification within (6) months from the end of their financial year.

Submission of Report:

• The Licensees are required to submit their Economic Substance Regulation report within (12) months of the end of their financial year.

Kindly be informed that notifications are required to be filled by the 29^th of March 2022 as non-compliance with the obligations to file a notification is subject to a penalty.

To view the Ministerial Law No. (57) for the year of 2020, please click here.

Jebel Ali Free Zone Authority – Regulatory (Jafza), the regulator of Jebel Ali Free Zone, would like to request its customers to apply to the following, as mandated by the updated ES guidance (Ministerial Decision No. 100 of 2020):

The Economic Substance Filing Portal has been launched and is now live for businesses to file their Notifications and ES Reports.

The Economic Substance Filing Portal can be accessed by businesses through the Ministry of Finance Economic Substance page.

We recommend to resubmit ES Notification by no later than 31 December 2020, unless further guidance on the filing deadline is provided.

For enquires please email This email address is being protected from spambots. You need JavaScript enabled to view it.

Dubai Auto Zone (DAZ) would like to request its customers to apply to the following, as mandated by the updated ES guidance (Ministerial Decision No. 100 of 2020):

The Economic Substance Filing Portal has been launched and is now live for businesses to file their Notifications and ES Reports.

The Economic Substance Filing Portal can be accessed by businesses through the Ministry of Finance Economic Substance page.

We recommend to resubmit ES Notification by no later than 31 December 2020, unless further guidance on the filing deadline is provided.

For enquires please email This email address is being protected from spambots. You need JavaScript enabled to view it.

National Industries Park (NIP) would like to request its customers to apply to the following, as mandated by the updated ES guidance (Ministerial Decision No. 100 of 2020):

The National Industries Park is pleased to confirm the Economic Substance Filing Portal has been launched and is now live for businesses to file their Notifications and ES Reports.

The Economic Substance Filing Portal can be accessed by businesses through the Ministry of Finance Economic Substance page.

We recommend resubmitting ES Notification by no later than 31 December 2020, unless further guidance on the filing deadline is provided.

For enquires please email This email address is being protected from spambots. You need JavaScript enabled to view it.

Companies and certain other UAE business forms that undertake a Relevant Activity must comply with the Economic Substance Regulations, which includes the annual submission of a Notification and Economic Substance Report.

To support businesses that may have been impacted by COVID-19 and temporary inaccessibility of the Ministry of Finance (MoF) Economic Substance Filing Portal, MoF has extended the deadline for businesses to submit their Notification and Economic Substance Report to 31 January 2021.

The revised filing deadlines for the 2019 Reportable Period are as follows:

• Notification: The later of six months after the financial year end, or 31 January 2021
• Economic Substance Report: The later of 12 months after the financial year end, or 31 January 2021

This is an exceptional, one-off extension of the filing deadline for businesses with a 2019 Reportable Period.
And businesses with a 2020 Reportable Period are required to file their Notification before 31 December 2021. No further extensions will be granted, so businesses should make every effort to file as soon as possible and not wait until the end of the extended deadline.

Failure to submit your Notification and Economic Substance Report on time will result in the application of penalties.

As a reminder, businesses should submit their Notifications and Economic Substance Reports on the MoF Portal that is accessible on the following webpage: https://bit.ly/2TayKBu.

For enquires please email This email address is being protected from spambots. You need JavaScript enabled to view it..

Companies and certain other UAE business forms that undertake a Relevant Activity must comply with the Economic Substance Regulations, which includes the annual submission of a Notification and Economic Substance Report.

To support businesses that may have been impacted by COVID-19 and temporary inaccessibility of the Ministry of Finance (MoF) Economic Substance Filing Portal, MoF has extended the deadline for businesses to submit their Notification and Economic Substance Report to 31 January 2021.

The revised filing deadlines for the 2019 Reportable Period are as follows:

• Notification: The later of six months after the financial year end, or 31 January 2021
• Economic Substance Report: The later of 12 months after the financial year end, or 31 January 2021

This is an exceptional, one-off extension of the filing deadline for businesses with a 2019 Reportable Period.
And businesses with a 2020 Reportable Period are required to file their Notification before 31 December 2021. No further extensions will be granted, so businesses should make every effort to file as soon as possible and not wait until the end of the extended deadline.

Failure to submit your Notification and Economic Substance Report on time will result in the application of penalties.

As a reminder, businesses should submit their Notifications and Economic Substance Reports on the MoF Portal that is accessible on the following webpage: https://bit.ly/2TayKBu.

For enquires please email This email address is being protected from spambots. You need JavaScript enabled to view it..

The Jebel Ali Free Zone Authority (Jafza) urges its valued customers to submit the required documents as per the Economic Substance Regulations, and ensure their accuracy to avoid fines from the concerned authorities. This can be done through your Economic Substance system.

Requirements for submitting the Economic Substance Report

• Submitting notifications:

Companies whose fiscal year ended on [30 June 2022] must send Economic Substance notifications on the Ministry of Finance portal by [31 December 2022]

• Submitting reports:

Companies whose fiscal year ended on [30 June 2022] must submit their Economic Substance report on the Ministry of Finance portal by [31 December 2022]

Please note that failure to send the notifications or submitting the reports may result in a penalty.

For more information, please visit the Ministry of Finance website: https://bit.ly/2TayKBu

To read the Cabinet of Ministers Resolution No. (57) of 2020, please click here.

National Industries Park urges its valued customers to submit the required documents as per the Economic Substance Regulations, and ensure their accuracy to avoid fines from the concerned authorities. This can be done through your Economic Substance system.

Requirements for submitting the Economic Substance Report

• Submitting notifications:

Companies whose fiscal year ended on [30 June 2022] must send Economic Substance notifications on the Ministry of Finance portal by [31 December 2022]

• Submitting reports:

Companies whose fiscal year ended on [30 June 2022] must submit their Economic Substance report on the Ministry of Finance portal by [31 December 2022]

Please note that failure to send the notifications or submitting the reports may result in a penalty.

For more information, please visit the Ministry of Finance website: https://bit.ly/2TayKBu

To read the Cabinet of Ministers Resolution No. (57) of 2020, please click here.

The Jebel Ali Free Zone Authority (Jafza) urges its valued customers to submit the required documents as per the Economic Substance Regulations, and ensure their accuracy to avoid fines from the concerned authorities. This can be done through your Economic Substance system.

Requirements for submitting the Economic Substance Report

• Submitting notifications:

Companies whose fiscal year ended on [30 June 2022] must send Economic Substance notifications on the Ministry of Finance portal by [31 December 2022]

• Submitting reports:

Companies whose fiscal year ended on [30 June 2022] must submit their Economic Substance report on the Ministry of Finance portal by [31 December 2022]

Please note that failure to send the notifications or submitting the reports may result in a penalty.

For more information, please visit the Ministry of Finance website: https://bit.ly/2TayKBu

To read the Cabinet of Ministers Resolution No. (57) of 2020, please click here.