Economic Substance Regulations by Nirav Shah
- Year of Publication: 2020
- ISBN: 0
Course Duration:
15+ hours comprising of 11 episodes
Course Background:
Economic Substance Regulations (“ESR) have been introduced in countries with low or no corporate taxes, in order to comply with international initiatives to combat harmful tax practices including unlawful avoidance or evasion. Particularly w.r.t UAE, it introduced the ESR in 2019 [which has been recently updated], to honor its commitment as a member of the OECD Inclusive Framework on BEPS, and in response to a review of the UAE tax reporting framework by the European Union (EU). The purpose of the Regulations is to ensure that UAE entities undertaking certain activities report actual profits that are commensurate with the economic activity undertaken within the UAE. With the same intent, even the Kingdom of Bahrain introduced ESR in 2018.
What shall the course cover?
Against this backdrop, Taxsutra is delighted to present to you an exhaustive 15 Hours Master-Class Series on “All You Need to Know About ESR & VAT Implications in the Middle East” with Mr. Nirav Shah (Director, FAME Advisory DMCC, U.A.E).
In this Module of ESR (In UAE & Bahrain), Mr. Nirav Shah has broadly dealt with 10 comprehensive topics as outlined below:
|
Session No. |
Topic |
|
1 |
Introduction – Setting the Context |
|
2 |
Scope, coverage, definitions and Exemptions |
|
3 |
Relevant Activities - Banking, Insurance and Investment Fund Management |
|
4 |
Relevant Activities – Lease finance, Shipping and Intellectual Property |
|
5 |
Relevant Activity – Headquarter, Holding Company and Distribution and Service Center |
|
6 |
Penal Provisions for Non-Compliance and Exchange of Information – by whom and for what |
|
7 |
Criteria for meeting Economic Substance – Control and Management |
|
8 |
Criteria for Meeting Economic Substance – Carrying on of CIGA and Adequate people, premises and Expenditure |
|
9 |
Notification and Economic Substance Report formats and time frame of reporting |
|
10 |
Administrative process |
Taxsutra is considered the most credible source of tax news in the tax fraternity. What started as a fledgling start-up has now become a leading brand in the tax world not only in India, but across the globe. Taxsutra's diverse customer set includes Fortune 500 Companies, large Indian Business Groups, Global Conglomerates, Tax Judges, IRS Officers, CBDT, Tax Lawyers & thousands of tax practitioners.
Taxsutra suite of portals :
1. Real time tax news & analysis for Corporate Tax (www.taxsutra.com/dt)
2. Transfer Pricing Portal (www.taxsutra.com/tp)
3. GST and Central Indirect Taxes Portals (www.taxsutra.com/gst - www.idt.taxsutra.com)
4. "Taxsutra Database" - Powerful Online Direct Tax Reference and Search Tool (www.database.taxsutra.com)
5. LawStreetIndia (LSI) (www.lawstreetindia.com) contains sub-modules on Company law, Securities law (SEBI/SAT), FEMA, IP laws & Competition Law
6. Taxsutra Accounting Standards portal (Ind-AS) (www.greentick.taxsutra.com)
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- Year of Publication: 2020
- ISBN: 0
Course Duration:
15+ hours comprising of 11 episodes
Course Background:
Economic Substance Regulations (“ESR) have been introduced in countries with low or no corporate taxes, in order to comply with international initiatives to combat harmful tax practices including unlawful avoidance or evasion. Particularly w.r.t UAE, it introduced the ESR in 2019 [which has been recently updated], to honor its commitment as a member of the OECD Inclusive Framework on BEPS, and in response to a review of the UAE tax reporting framework by the European Union (EU). The purpose of the Regulations is to ensure that UAE entities undertaking certain activities report actual profits that are commensurate with the economic activity undertaken within the UAE. With the same intent, even the Kingdom of Bahrain introduced ESR in 2018.
What shall the course cover?
Against this backdrop, Taxsutra is delighted to present to you an exhaustive 15 Hours Master-Class Series on “All You Need to Know About ESR & VAT Implications in the Middle East” with Mr. Nirav Shah (Director, FAME Advisory DMCC, U.A.E).
In this Module of ESR (In UAE & Bahrain), Mr. Nirav Shah has broadly dealt with 10 comprehensive topics as outlined below:
|
Session No. |
Topic |
|
1 |
Introduction – Setting the Context |
|
2 |
Scope, coverage, definitions and Exemptions |
|
3 |
Relevant Activities - Banking, Insurance and Investment Fund Management |
|
4 |
Relevant Activities – Lease finance, Shipping and Intellectual Property |
|
5 |
Relevant Activity – Headquarter, Holding Company and Distribution and Service Center |
|
6 |
Penal Provisions for Non-Compliance and Exchange of Information – by whom and for what |
|
7 |
Criteria for meeting Economic Substance – Control and Management |
|
8 |
Criteria for Meeting Economic Substance – Carrying on of CIGA and Adequate people, premises and Expenditure |
|
9 |
Notification and Economic Substance Report formats and time frame of reporting |
|
10 |
Administrative process |
Taxsutra is considered the most credible source of tax news in the tax fraternity. What started as a fledgling start-up has now become a leading brand in the tax world not only in India, but across the globe. Taxsutra's diverse customer set includes Fortune 500 Companies, large Indian Business Groups, Global Conglomerates, Tax Judges, IRS Officers, CBDT, Tax Lawyers & thousands of tax practitioners.
Taxsutra suite of portals :
1. Real time tax news & analysis for Corporate Tax (www.taxsutra.com/dt)
2. Transfer Pricing Portal (www.taxsutra.com/tp)
3. GST and Central Indirect Taxes Portals (www.taxsutra.com/gst - www.idt.taxsutra.com)
4. "Taxsutra Database" - Powerful Online Direct Tax Reference and Search Tool (www.database.taxsutra.com)
5. LawStreetIndia (LSI) (www.lawstreetindia.com) contains sub-modules on Company law, Securities law (SEBI/SAT), FEMA, IP laws & Competition Law
6. Taxsutra Accounting Standards portal (Ind-AS) (www.greentick.taxsutra.com)
