Your Tax Advisor – MSATC
Our taxation and economic substance team advises clients across all sectors on various tax matters, including tax residence, economic substance requirements, income tax, the OECD’s Common Reporting Standard (CRS) and tax disputes.
To help businesses ensure compliance with economic substance requirements, our team conducts substance audits on existing structures, procedures and documents to help identify any issues, both as an initial audit of compliance and on an ongoing basis.
Our team works closely with businesses to provide practical advice and tailored solutions to help remedy gaps and other issues that could stand in the way of compliance with economic substance requirements in UAE.
How we can help?
We consider that complying with the substance rules will be via a three-step process:
-Undertaking an impact analysis to understand how and to what extent your business will be affected
-Carrying out a readiness assessment to ensure your business is prepared or to advise on areas requiring improvement/amendment
-Obtaining assistance for tax return preparation and Income Tax Division liaison to ensure timely implementation of the requirements
To help you navigate the UAE substance requirements, MSATC offers a comprehensive range of options – from a classification check to a full review, as well as advisory services on registering your status with the regulator.
Classification: Our classification tool will help you determine the classification of your company as it applies to the substance legislation. This includes a report and director resolution.
Full Review: MSATC will guide you through step-by-step to determine the classification, provide you with the relevant directors’ resolution and, if needed, help you lodge your status with the regulator.
In-Scope Advisory Services: Through MSATC in-house technical experts and network panel of tax experts, a review of portfolio structure and provision of alternative options from in-jurisdiction substance to alternative structuring options.
Substance Solutions: MSATC can provide jurisdictional solutions, including provision of fiduciary directors, office space, employees and such other outsourced solutions.
✔ Fund administration
✔ Intellectual property business
✔ Distribution centers
With the introduction of economic substance requirements in a number of offshore jurisdictions, economic substance and local tax matters are becoming increasingly important in UAE. To see if the economic substance requirements could apply to your business, you can reach us at..
‘’We as professionals realize it’s not about knowing what to do but also knowing how to do. I think intelligence is the knowledge acquired in the process of continuous learning and wisdom is the application of using the knowledge appropriately. We thrive to produce the best practical results for our clients.’’
Senior Project Manager
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