Demonstrating the Economic Substance in the UAE for all the in-scope entities is now a reality. In this relation, there are three tests prescribed in the UAE’s Economic Substance Regulations which need to be satisfied cumulatively in order to demonstrate appropriate Economic Substance in UAE.
The ‘adequacy’ test is one of the three tests, which in simple terms, emphasizes on having ‘adequate’ locally present employees, locally incurred operating expenditure and..
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