VAT Returns deadline is 28th of every month.             Excise Tax Returns deadline is 15th of every month             ESR Notification Submission deadline, 6 months from the end of the financial year             ESR Report Submission deadline, 12 months from the end of the financial year             Click here to know the Foreign Exchange (FX) rates applicable for VAT from the UAE Central Bank website
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For Financial Year ended 30 June 2023, ESR Notification deadline is 31 December 2023 and ESR Report submission deadline is 30 June 2024.


Also, for Financial Year ended 31 December 2022, ESR Report submission deadline is 31 December 2023. Failure to comply will incur penalties between AED 20,000 to AED 50,000 and other issues. Read on to know more…

Seamless ESR Services in UAE


    Is ESR applicable to your business?

    With reference to the guidelines, issued by MOF, the regulations are applicable to all the UAE entities carrying out relevant activities, please keep in view that there are some material changes in the revised

    Economic Substance Regulations, under which any previous classification needs to be reconsidered.

    What are the Relevant Activities?

    Banking Business
    Business Lease - Finance Business
    Holding Company Business
    Insurance Business
    Headquarters Business
    Intellectual property Business (IP)
    Investment Fund management
    Shipping Business
    Distribution & Service Centre Business

    Once a UAE company has been identified as undertaking relevant activities, the ESR requires the
    company to satisfy the economic substance test which comprises three elements:

    1). It is directed and managed in the UAE in relation to that activity
    2). It conducts Core Income-Generating Activities (CIGA) in the UAE
    3). It meets the adequate requirements with regard to the level of relevant activity carried on in the UAE.

    If your financial year is ended on 30 June 2023, the deadline for submission of the ESR Notification and Report?

    a) ESR Notification shall be submitted before 31 December 2023 (in 6 months) and
    b) ESR Report should be submitted before 30 June 2024 (in 12 months) in the Ministry of Finance Portal.

    What are the penalties for not complying with ESR?

    Failure to comply with the Regulations can result in penalties ranging from AED 20,000 to AED 50,000 and other administrative sanctions such as the suspension, revocation, or non-renewal of the entity’s trade license or permit.

    Failure to file ESR Notification or Report within December 31, 2023 – Minimum Penalty will be AED 20,000

    Reach us to know more:

    Call @ +971 4 2699 329

    [email protected]

    or just fill the above contact form



    How can Spectrum help you in complying with ESR?

    Assess and file ESR Notification

    Study your Business Activities in detail and assess the applicability of the Economic Substance Regulation for your business.

    Changes in business to comply with ESR

    To provide guidance and support for compliance with the provisions of the Economic Substance Regulation, if your activity is falling under the regulation and to conduct an “Impact Study and Gap analysis” in order to assess whether your business meets the compliance test and to provide the recommendations.

    Submit ESR Report

    Submit the ESR Report with Regulatory Authority before the Due Date.

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