Share with your friends

UAE: Economic substance notification deadlines

UAE: Economic substance notification deadlines

The Dubai Airport Free Zone Authority (DAFZA) announced the deadline is 3 May 2020 for “economic substance” notifications for FY 2019 for all DAFZ-based entities. The economic substance notification format is available on DAFZA’s online customer portal.


Related content

Previously, RAK International Corporate Centre and Ajman free zone established 30 June 2020 as the deadline for their economic substance notifications. Other regulatory authorities have yet to announce the due dates for their economic substance notifications.

The economic substance rules were included in Cabinet of Ministers Resolution No. 31 of 2019 (30 April 2019) and introduced an “economic substance” requirement for all UAE entities that reflects the level and type of activity they undertake. Economic substance broadly reflects measures relating to employees, premises, management, and costs. There are also various regulatory filing requirements that need to be met in order to comply with the regulations. The UAE rules are, in part, a reaction to the UAE having been once placed on the EU’s list of non-cooperative tax jurisdictions. Read TaxNewsFlash

KPMG observation

UAE entities need to consider conducting an assessment of their FY 2019 economic substance to be ready with a position for the economic substance notification (and later economic substance reporting, if applicable). 

Read an April 2020 report [PDF 43 KB] prepared by the KPMG member firm in the UAE

The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us


Want to do business with KPMG?


loading image Request for proposal