Can someone pay tax on my behalf

[HundHond]

I own a company and we receive millions in USDT or BTC each year. Now with 9% corporate tax I need to pay taxes in UAE but our bank accounts are almost empty as we RARELY use them as they won't accept our crypto payments. So what happens is 99% of our income remains in crypto and I need to pay taxes from system money that is already in bank.

Is there any way what we can do for this? Does UAE accept crypto for tax payments? I guess no.

Is it allowed for a third party payment provider to pay the tax on my behalf? As example I pay the provider USDT and he sends the money to the federal tax authority in UAE.

 

[wellington]

Surely a payment processor like Advcash

 

[JackAlabama]

HundHond said:
I own a company and we receive millions in USDT or BTC each year. Now with 9% corporate tax I need to pay taxes in UAE but our bank accounts are almost empty as we RARELY use them as they won't accept our crypto payments. So what happens is 99% of our income remains in crypto and I need to pay taxes from system money that is already in bank.

Is there any way what we can do for this? Does UAE accept crypto for tax payments? I guess no.

Is it allowed for a third party payment provider to pay the tax on my behalf? As example I pay the provider USDT and he sends the money to the federal tax authority in UAE.
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why is this so complicated?
It was very easy to achieve what you want with local help or otc exchanges, used to be standard until recently.

 

[Sols]

It's total guesswork what does and doesn't work in UAE when it comes to taxes. In many other places, though, it's not a problem to have a third party pay taxes for you. Speak with a good law firm or accounting firm and see if they can do it for you. They might charge a fee, especially if there's crypto involved. Make sure you get in writing that the payment is for taxes and get proof that they paid the taxes on your behalf.

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This is the probably the answer to your question.

 

[JackAlabama]

Sols said:
It's total guesswork what does and doesn't work in UAE when it comes to taxes. In many other places, though, it's not a problem to have a third party pay taxes for you. Speak with a good law firm or accounting firm and see if they can do it for you. They might charge a fee, especially if there's crypto involved. Make sure you get in writing that the payment is for taxes and get proof that they paid the taxes on your behalf.
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indeed,
other worrying points are like: can I accept crypto for xyz or do I need a license? Can I hold crypto without a license? Do I need to register on whatever platform if I accept / hold or do whatever with crypto?

 

[jafo]

HundHond said:
I own a company and we receive millions in USDT or BTC each year. Now with 9% corporate tax I need to pay taxes in UAE but our bank accounts are almost empty as we RARELY use them as they won't accept our crypto payments. So what happens is 99% of our income remains in crypto and I need to pay taxes from system money that is already in bank.

Is there any way what we can do for this? Does UAE accept crypto for tax payments? I guess no.

Is it allowed for a third party payment provider to pay the tax on my behalf? As example I pay the provider USDT and he sends the money to the federal tax authority in UAE.
Click to expand...

I'd pay the taxes "owed" on the "profits" easily calculated from the fiat bank account deposits smi(&% rof/% dev56"""

 

[Dandyline]

I can't see why it wouldn't be possible, just make sure to keep everything correct with the bookkeeping for the upcoming audits.

Just pay out everything as salary so you don't have any profits to pay tax on.

 

[SoNewToAllShit]

Was it possible to pay the Tax office in Dubai in crypto and that changed to not possible any longer or why does this problem comes now?

 

[Dandyline]

SoNewToAllShit said:
Was it possible to pay the Tax office in Dubai in crypto and that changed to not possible any longer or why does this problem comes now?
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Probably because you never had to pay any taxes before, it's a new tax.