RESEARCH & INSIGHTS

Nishe Publications

Economic Substance Regulations

May 14, 2020

Economic Substance Regulations in the UAE – Deadlines announced

Economic Substance Regulations (“ESR”) were introduced by the UAE Government in 2019. ESR impacts all entities licensed in the UAE whether on the mainland or in the free zones. Penalties for non-compliance with ESR range from AED 10,000 to AED 50,000.

There are two reporting requirements under ESR – (1) filing of an annual Notification; and (2) filing of an annual Return. These have to be filed for financial years commencing on or after 1 January 2019.

Recently, many Regulatory Authorities in the UAE have announced 30 June 2020 as the deadline for Notification for the first financial year under ESR Rules. Deadline information for Notification is awaited from other Regulatory Authorities.

The Annual Return has to be filed within twelve months from the financial year-end.

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BUSINESS

August 06, 2019

At a Glance – Doing Business in GCC

If you are seeking information about doing business in the GCC countries, this new publication of Nishe can be your starting point. At a Glance – Doing Business in GCC is a one-page downloadable document providing some key statistics and other relevant information covering the UAE, Saudi Arabia, Bahrain, Kuwait, Oman and Qatar.

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VAT

July 29, 2019

At a Glance – VAT in GCC

In this new Nishe publication, we provide a high-level overview of some of the major VAT rules of UAE, KSA and Bahrain as a downloadable one-page PDF document. We hope you will find this informative.

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Accounting

March 28, 2019

The tricky question of accounting for leases

I live in a leased townhouse and run my business from a leased office. This is likely to be the story of many people and businesses in this region.

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Accounting

December 30, 2018

No more of lease deals that are off the books

“One of my great ambitions before I die is to fly in an aircraft that is on an airline’s balance sheet,”

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