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UAE: After Oman, will other GCC countries introduce personal income tax?

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Why do you think so? People also said it was game over for people with companies there. As far as I see it, not much has changed compared to before the introduction of the 9% corporate tax!

Well, couple of reasons, actually:
  1. It's a money thing - since if it's just a 5% (on top of 9% people already pay) it's abut 14% in total. People have other options in this range especially taking into account the increase in cost of living in Dubai. Again, it all comes down to a specific situation and persons goals etc.
  2. It's a privacy thing - this means that everyone needs to submit the statement showing all your assets and income from them. That's not good as a lot of people are hiding their assets/capital there and if these documents get leaked (as EJARI documents got leaked couple years ago - check "Dubai Unlocked" or "Dubai Leaks") - their assets will get exposed.
  3. It's a mindset thing - if you've got nothing to report and nothing to pay - it gives you a feeling of freedom and a peace of mind (you don't owe taxes and you can't get fined/jailed if you don't file a report in time or if the report has some mistakes etc). You can just sleep better knowing it's one thing less to worry about. Also paying tax to absolute monarchy as Martin pointed out makes little sense.
 
It's a mindset thing - if you've got nothing to report and nothing to pay - it gives you a feeling of freedom and a peace of mind (you don't owe taxes and you can't get fined/jailed if you don't file a report in time or if the report has some mistakes etc). You can just sleep better knowing it's one thing less to worry about. Also paying tax to absolute monarchy as Martin pointed out makes little sense.
#Bingo! 100% this! This man understands zero vector attack!
I mentioned this several times on this forum. It was my reason for moving to Monaco in the late 1990s. Taxes were NEVER my concern!
I'm looking for a place where I do NOT have to read thousands of pages of rules, regulations, and laws written by useless and unproductive thieves or NOT spend my hard-earned money on a "state-licensed disguised enemy" (e.g., defense attorney, accountant, etc.) to defend me against the SAME state that gave him/her a license to defend me! Like, WTF?!!! stupi#21

To the people who claim Monaco is tiny, it is OBVIOUS that none of you have EVER seen the inside of a prison cell, and even if you did, you were NOT "checked into your brain." Compared to a prison cell, Monaco looks like a Riemann Sphere (in a more abstract mathematical sense that encapsulates the idea of being boundless and unending) as one can use the Monaco train station to basically go anywhere in Europe or fly in and out of the Nice-Côte d'Azur International Airport.
 
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#Bingo! 100% this! This man understands zero vector attack!
I mentioned this several times on this forum. It was my reason for moving to Monaco in the late 1990s. Taxes were NEVER my concern!
I'm looking for a place where I do NOT have to read thousands of pages of rules, regulations, and laws written by useless and unproductive thieves or NOT spend my hard-earned money on a "state-licensed disguised enemy" (e.g., defense attorney, accountant, etc.) to defend me against the SAME state that gave him/her a license to defend me! Like, WTF?!!! stupi#21

To the people who claim Monaco is tiny, it is OBVIOUS that none of you have EVER seen the inside of a prison cell, and even if you did, you were NOT "checked into your brain." Compared to a prison cell, Monaco looks like a Riemann Sphere (in a more abstract mathematical sense that encapsulates the idea of being boundless and unending) as one can use the Monaco train station to basically go anywhere in Europe or fly in and out of the Nice-Côte d'Azur International Airport.
how's the cost of living in Monaco?
 
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is the medicine good in there too?
Medicine is NOT good anywhere unless you take an active role in your own health! Most doctors are just licensed drug pushers. The ones who are smart and spread the truth get canceled. Ask any regular doc about TRT, and you'll see them flapping on the floor like a fish out of water.

Having said that...

I usually buy medicine in bulk in low-cost countries. If I really need emergency medicine in Europe (it has NEVER happened before), I'll buy it locally *if* I can't take advantage of pharmaceutical arbitrage.

I pay less than 1% on my medications compared to the prices in Europe—and let's not even mention the US.

Take, for example, Aspirin.

(1) In Zürich, it is CHF 9.20 (~US$ 10.40) for 20 tablets of 500mg each. So, the price per tablet = 10.40/20 = $0.52/tablet. Source: ASPIRIN S Tabl 500 mg 20 Stk

(2) On Amazon US, it is US$ 10.35 for 100 tablets of 500mg each. So, the price per tablet = 10.35/100 = $0.1035/tablet, which is 80% less. Source: https://www.amazon.com/Strength-Bayer-Aspirin-Tablets-Reliever/dp/B00BV47LWE/

(3) On Indiamart, it is ₹ 30 (US$ 0.36) for 20 tablets of 500mg each. So, the price per tablet = 0.36/20 = 0.018/tablet, which is ~97% cheaper. Source: Aspirin Tablet 500 Mg

(4) I buy mine from other less-publicized places (other countries) *and* in BULK, so I end up paying way less than US$0.01 per tablet. I can't disclose my sources because BAYER will shut them down in a second! DYOR.

The medicine prices in Monaco are equivalent to Zürich prices. The difference is that the pharmacies in Monaco do not disclose their prices (in general), like some restaurants. smi(&%

Cheers!
 
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Many revolutions have been fought after tax increases, we could even say that the United States was created because of them. Nowadays, the tax is already deducted before the salary is paid to the employee, so it doesn't feel 'real'. People will only take it to the streets when they can no longer buy food.

But for us entrepreneurs it is a different, painful, story. We are directly confronted with taxes. First the money shines in our bank accounts and then we have to give a large sum to the crooks of the state.

I expect taxes to continue to rise globally in the future, it remains the easiest source of income. But demanding more than half of your hard earned income is not a sustainable situation for any state, as long as arbitrage exists when you can move to a country where you pay significantly less. So it is up to countries who charge the least, and most likely they will continue increase their taxes with small bumps here and there.
 
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Medicine is NOT good anywhere unless you take an active role in your own health! Most doctors are just licensed drug pushers. The ones who are smart and spread the truth get canceled. Ask any regular doc about TRT, and you'll see them flapping on the floor like a fish out of water.

Having said that...

I usually buy medicine in bulk in low-cost countries. If I really need emergency medicine in Europe (it has NEVER happened before), I'll buy it locally *if* I can't take advantage of pharmaceutical arbitrage.

I pay less than 1% on my medications compared to the prices in Europe—and let's not even mention the US.

Take, for example, Aspirin.

(1) In Zürich, it is CHF 9.20 (~US$ 10.40) for 20 tablets of 500mg each. So, the price per tablet = 10.40/20 = $0.52/tablet. Source: ASPIRIN S Tabl 500 mg 20 Stk

(2) On Amazon US, it is US$ 10.35 for 100 tablets of 500mg each. So, the price per tablet = 10.35/100 = $0.1035/tablet, which is 80% less. Source: https://www.amazon.com/Strength-Bayer-Aspirin-Tablets-Reliever/dp/B00BV47LWE/

(3) On Indiamart, it is ₹ 30 (US$ 0.36) for 20 tablets of 500mg each. So, the price per tablet = 0.36/20 = 0.018/tablet, which is ~97% cheaper. Source: Aspirin Tablet 500 Mg

(4) I buy mine from other less-publicized places (other countries) *and* in BULK, so I end up paying way less than US$0.01 per tablet. I can't disclose my sources because BAYER will shut them down in a second! DYOR.

The medicine prices in Monaco are equivalent to Zürich prices. The difference is that the pharmacies in Monaco do not disclose their prices (in general), like some restaurants. smi(&%

Cheers!
You talk about very complex mechanisms of human body such as hormones, medicine is not good there yet.

But I'm talking about basic day-to-day needs such as getting a simple tooth filling whenever needed, basic surgery or getting patched up quickly in case of a cut. How's the price for these things there? And is quality reliable?
 
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But I'm talking about basic day-to-day needs such as getting a simple tooth filling whenever needed, basic surgery or getting patched up quickly in case of a cut. How's the price for these things there? And is quality reliable?
You travel to the best, least expensive places with the MOST qualified health service providers due to their massive hands-on experience! coo-:!y
You MUST grab the bull by its horns!


If you want things easy and have the nanny state provide it for free without actual self-reliance, there is NOTHING I can do...nor would I want to.

Please think this through... What are the chances of having so many geniuses in a small circle/city? :rolleyes:

Even here on OCT, we all come from different walks of life, with different educations and upbringings, but we have one thing in common: being our own bosses! We share one thing, being our own bosses, in common for sure (I hope so): that it is time-tested, withstood the state's attack, and works.

No Harvard-educated dentist doing 20 implants a month is going to be better than a Colombian dentist doing 200 implants a month! Just look at the teeth of most average Europeans, including but not limited to the Brits, compared to the average Colombians and Brazilians. hi%#

No wealthy Swiss tennis player hitting the ball 20 times a day is going to be better than a poor Somalian tennis player hitting the ball 200 times per day—that's an uncomfortable reality!

Let me give you a REAL-LIFE example:

In Germany, you have total body "prescans" for €2,750 - Source: DirectClinics Total Body Scan

The same f*cking thing in Brazil (away from the tourist areas) is R$450 (+/- €73.74), and they are twice as fast as the Germans in completing the task. So much for German efficiency!
Source: Exame: Ressonância Magnética | Jjservicosmedicos

I've accompanied relatives to the one in Germany, and I underwent the one in Brazil myself multiple times!

1722245440563.webp

vs
1722245508219.webp


That is +3700% MORE expensive and takes TWICE as long! Why? :rolleyes:

I can give even more examples that @JohnnyDoe and a few others here would like to hear so they can laugh, but it would be too off-topic (for now :p)

Ohhh...what the H3LL...here's one... There is this Venezuelan girl who, in Caracas, charged Bs. 200M (€52) for her four-hour spiritual consultation. She would even cook for you and clean your apartment after your treatment if you would like. coo-:!y

Five years later and OLDER (and a bit fatter), she is in NYC charging US$1500/hour. " Patients" have to pass a KYC (full copy of government-issued ID and social media presence) and prepay the total amount. Whether she cancels or you cancel, it is NON-REFUNDABLE, and she has the right to deny "treatment" to whomever she deems "not worthy." Same girl! I sh1t you not! smi(&%

Interpret this as you see fit! ;)

PS. By the way, the healthcare professionals in Porto Alegre were born in Brazil but are primarily of German and Italian descent. Most studied in Germany, Switzerland, Italy, or Austria, if you are wondering how the H*ll I got down there to begin with. ;)
In some places in Asia and Latin America, healthcare services and treatments are even cheaper, and some practitioners have a lot more experience due to a larger population. ;)
 
If you want things easy and have the nanny state provide it for free without actual self-reliance, there is NOTHING I can do...nor would I want to.
Not sure how you derived it from my words, just curious about Monaco.

I also heard bad things about EU healthcare that its overloaded and pricey
 
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Not sure how you derived it from my words,
I didn't, but I apologize for using the "impersonal you" without warning.stupi#21
I meant this "you": Generic you - Wikipedia

I'll watch my usage of pronouns better in the future! ;)
 
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