Compliance
ESR Compliance
The UAE Cabinet Issued The Cabinet Of Ministers Resolution No. 31 Of 2019 Concerning Economic Substance Regulations (ESR) Requiring All In-Scope UAE Entities To Comply With The Inclusive Framework On Base Erosion And Profit Shifting (BEPS) To Ensure That Profits Are Accounted By The Entities Where The Actual Economic Activities Are Conducted And Value Created. ESR Requires All Businesses Having A Commercial License, Certificate Of Incorporation Or Similar Permits Issued By Any Regulatory Authority In UAE (Licensees) Carrying Out One Or More Relevant Activity To Substantiate Adequate Economic Substance In The UAE. Whereas, ESR Excludes UAE Licensees With Direct Or Indirect Holding of At Least 51% By Any UAE Government, Governmental Authority And/Or Body.
Gpaduae is one of the leading Audit firms in Dubai / Abu Dhabi / Sharjah / Ras Al Khaimah /Ajman in UAE & across Middle East.
Our firm is well equipped and well experienced in Statutory Audit and we perform it
By combining the use of human intellect and technology, our objective is to provide the management with business insights in a concise manner so as to better manage their key performance indicators and add value to the businesses.
Although, having your annual financial statements statutorily audited as per IFRS in UAE may not be mandatory, Federal Law No (2) of 2015 on Commercial Companies in the UAE and some of the Free Zones in UAE require Companies to have their accounts audited as per IFRSs. Furthermore, with the everchanging global regulatory landscape and the introduction of VAT in UAE effective from 1 January 2018, we strongly advice our clients to have their books of accounts audited as per IFRS.