As the new ESR policy is implemented throughout the UAE, the majority of the business owners have filed their notification some time go as the deadline for the reporting has passed in June 2020. Few of them are in the process of filing their late application, after paying a hefty penalty of AED 30,000 to 50,000 while some are facing suspension, non-renewal or revocation of license. But most importantly, the process has not ended as the businesses have to submit an annual report within the end of their financial year. Also, it must be done within the stipulated time and in the same way, the regulatory authority has prescribed. This ESR reporting will become a nightmare for the majority of the businesses as it would contain records of sales/ purchase of the material/ service.
Various benefits of utilizing NSKT Global ESR Applicability assessment are as follows:
Report completion: Through the assistance of NSKT Global experts report completion under the client’s behalf can be done in front of the regulators. Every bit of information is correctly handed over to the authority for the report along with supporting evidence.
Compliance management: NSKT Global experts ensure that business compliance is maintained at all times which ensures businesses don’t get suspended, cancelled or handed a non-renewal notice from the authorities.
Consultation: NSKT Global provides innovative and comprehensive solutions as well as consultations for ESR reporting to the businesses and organizations of all sizes.