Economic Substance Regulations – Deadline reminder
24 January 2021
The first deadline for ESR notifications and reporting is 31 January 2021. This is an extended deadline (from 31 December 2020) so affected businesses have been given additional time to meet their obligations.
We urge all businesses that have not already made a notification and report to check how ESR affects them, check their reporting requirements and make sure they meet the deadlines. There are penalties for non-compliance.
| Year-end |
Notification deadline |
Reporting deadline |
| Business having a financial year ending prior to January 2020 |
31 January 2021 |
31 January 2021 |
| Business having a financial year ending 31 January 2020 |
31 January 2021 |
31 January 2021 |
| Business having a financial year ending between February 2020 and July 2020 |
31 January 2021 |
12 months from the end of the financial year |
| Business having financial year ending after 31 July 2020 |
6 months from the end of the financial year |
12 months from the end of the financial year |
Notification and reports must be made online, using the Ministry of Finance portal.
If you need advice on any aspect of the ESR or assistance with notifications or reporting, please get in touch with any of our ESR specialists.