global corporation tax

[billybobs]

I see the UAE has signed up to the global corp tax at min 15%

If i have a company in the UAE (and its my only company in the world) and i live in the UAE and my UAE company makes $6mil next profit a year, will this new corp tax effect me? Currently UAE corp tax is 0%.
My UAE company sells software and also drop ships to countries around the world.

I cant get a straight answer, i keep seeing large multi nationals being mentioned

 

[Gamblord]

Under the deal, countries could tax their companies' foreign earnings if they go untaxed through subsidiaries in other countries. That would remove the incentive to use accounting and legal schemes to shift profits to low-rate countries since the profits would be taxed at home anyway.
Click to expand...

https://www.gulftoday.ae/business/2...back-deal-on-global-minimum-tax-for-companies


Yeah I'm not sure either. Might be important to find out because this is implemented by 2023 or maybe sooner. According to this quote you would be exempted since UAE is not going to tax since you already are taxed at 0. If your company is from a high tax country and pays low or no tax in other countries the high tax country has the right to shake you down. This is my interpretation. Maybe wishful thinking on my part.

Last edited: Jul 2, 2021