UAE - Today

[Redhue]

What does this mean in practice?

 

[CrazyPanda]

What does this mean in practice?

There is no need for a physical office, employees, or expenditures in several business areas like selling software. Google ESR.

 

[brianK]

Means you prove you pay taxes in your country of residency for the company, as corporate tax. In this case why one should open a company in uae and not in the country he lives? If he anyway have to pay the same tax there? That’s why I say desert soon

OK, this has changed with the 9% corporate tax or how I understand it?

 

[bubbledouble]

Hello to all,

I am signed up to several whats'app, telegram groups etc, trying to get the info / updates for UAE.

Where is the situation at today?

Does the offshore (RAK, etc) are been finally taxed? My accountant asked me to do tax registration, which I did...

What about SBR (Small Business Relief)? Does it still exist and it's under 3.8M AED? So anyone that has total income less than 3.8M AED is not paying tax? Is it still valid?

I am still asking around but noone can give a clear answer. What is happening.. Shall we close and move out of this habibian nightmare?

Please suggest.

Thanks to everyone!

What did they say in the groups about the UAE if you don't mind to share?

 

[Lord Palmerstone]

Reading all the complicated tax queries here, and first off I must declare I know nothing about tax (actually my wife is frem a wrist stinging Scandinavian country and always jokes that she will teach me 'what is tax' one day.
However I do have an involvement in a RAK FZ company for another (as I am here permanently and next month reaching 30 years), and I can confirm that all companies on mainland or FZ must register for tax. Now if you merely moving paperwork and moving materials/goods from one country to a 3rd country as far as I know you do not pay tax, but if you import and sell goods etc on the mainland then immediately you will pay 9%. It is the tax authorities who will decide that you perhaps didn't reach a threshold (at present +/- US$100,000 p.a.) and are therefore exempt.
They (UAE) dont need all this nonsense, but have been forced by OECD, Central Banks, World Bank, EU/UK/USA politicians etc etc to bring in a tax. It also gave the UAE Govt a whole new sector where they could employ their own population as they were running out of Govt posts, so this has been 'a god-send' (or maybe an allah-send). Now there is whole new industry the FTA (Federal Tax Authority) employing thousands of locals to track/trace/harry/annoy/bother every compasny for their tax returns - how do I know? Because I forgot the 1st return and no joking, I received maybe 10-12 emails, 8-10 SMS messages and one phone call in a 48 hour period. What did I learn ............ DO NOT FORGET EVER AGAIN!!!!!

 

[bibing]

So that’s why I close everything in uae and move somewhere else

Where did you go?

 

[alain]

Because I forgot the 1st return and no joking, I received maybe 10-12 emails, 8-10 SMS messages and one phone call in a 48 hour period. What did I learn ............ DO NOT FORGET EVER AGAIN!!!!!

very well apply for all countries where you forget about declaring or paying your taxes, they will quickly come after you

 

[crashes777]

Where did you go?

also very interesting)

 

[diro]

Hello to all,

I am signed up to several whats'app, telegram groups etc, trying to get the info / updates for UAE.

Where is the situation at today?

Does the offshore (RAK, etc) are been finally taxed? My accountant asked me to do tax registration, which I did...

What about SBR (Small Business Relief)? Does it still exist and it's under 3.8M AED? So anyone that has total income less than 3.8M AED is not paying tax? Is it still valid?

I am still asking around but noone can give a clear answer. What is happening.. Shall we close and move out of this habibian nightmare?

Please suggest.

Thanks to everyone!

Then it would be a really good idea for you to sign up here as well, so you can get answers to your questions and other useful information about the UAE and the current status there.

 

[JackieTsan]

Then it would be a really good idea for you to sign up here as well, so you can get answers to your questions and other useful information about the UAE and the current status there.

Hi Diro, yes, it’s a good idea, and I hope for the big admin, to consider a generous discount for the lifetime for Black Friday, I’d really go for it. But since I’m not one of the rich guys that are using it so for me is not That easy.
You guys, you can discuss, is black Friday, and would be nice idea to do an attracting discount to the lifetime option for us the people that are dreaming to become HNWI