Author

Reggie Mezu

Browsing

In brief The Abu Dhabi Court of First Instance recently dismissed an appeal filed by the Federal Tax Authority (FTA) against fines and penalties imposed by the FTA against a UAE company, a Dubai based beverage distributor, in connection with excise taxes. Baker McKenzie Habib Al Mulla represented the company. The court also ordered that the FTA repay the full amount of the penalties to the company. The Tax Dispute Resolution Committee had previously ordered…

Recap Licensees with a financial year-end (“FYE”) of 31 December 2019 were required to submit the economic substance notification pursuant to the Economic Substance Regulations (Cabinet Resolution No. 31 of 2019 or “ESR”) before 30 June 2020[1]. The submission of the economic substance notification is only the first step in complying with the ESR. The next, and most comprehensive, step is the submission of the economic substance report. This needs to be done by 31 December…

A recent decision by the Tax Dispute Resolution Committee (TDRC) upheld an appeal by an international corporate and investment bank against fines and penalties imposed by the UAE Federal Tax Authority (FTA) in respect of a voluntary disclosure made by the bank. Baker McKenzie Habib Al Mulla successfully represented and obtained the favourable decision for the bank, with the TDRC ordering the FTA (the Defendant) to repay the amount paid for the fines and penalties…

Economic Substance Regulations (ESR) were introduced in the UAE in March 2019 by virtue of Cabinet Resolution No. 31 of 2019 (Cabinet Resolution). The ESR apply to all companies based in the UAE (onshore and free zones), including branches and apply to financial years starting on or after 1 January 2019. The UAE government has delegated the responsibility to regulate and administer the ESR to the various onshore and free zone authorities (such as the…