There is a rumor that Dubai has another additional taxation plan

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bikar

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Apr 18, 2023
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Dear All,

I was talking to one friend which is giving consultancy on real estate and construction. He mentioned that there will be additional tax (either CIT, PIT or dividend) coming in Dubai which will be increasing as the money earned increase.

I thought this is not very realistic because they ve just stated 9% CIT but i wanted to be sure and open it to discussion here for hearing from you, Masters.

KR,
 
They're probably just trying to lure in as many people as possible to start their business in Dubai or even relocate there, until they decide they've got enough, and then they'll unleash the tax authorities. Kinda like when they suddenly introduced that 9% tax.

Though, to be fair, that one can be pretty easily offset with expenses.

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Hey, I don't make the news. I only report it! 😎
 
drillbill said:
drillbill said:
They're probably just trying to lure in as many people as possible to start their business in Dubai or even relocate there, until they decide they've got enough, and then they'll unleash the tax authorities. Kinda like when they suddenly introduced that 9% tax.

Though, to be fair, that one can be pretty easily offset with expenses.
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My eyes were on Malaysia once like Andrew Heenderson but I found it very difficult to communicate as English is not widely spoken at the time. Now we have Google translator so things might be better
 
PIT will come at 9% latest 2026 as I have been told by an UAE ambassador I know for quite some time...
 
Don't attack me for sharing first hand information here. If you don't like it just ignore my posts.
 
SCHLOSSFINANZ said:
SCHLOSSFINANZ said:
Don't attack me for sharing first hand information here. If you don't like it just ignore my posts.
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I am not attacking you mate. But it would be counter productive as most countries are now wanting billionaires living inside them spending money there. Offering them tax free from overseas income. Who would buy expensive houses, cars, apts if they leave? Even USA has joined in this club
 
SCHLOSSFINANZ said:
SCHLOSSFINANZ said:
PIT will come at 9% latest 2026 as I have been told by an UAE ambassador I know for quite some time...
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I'm sure it will come, but I wouldn't expect it so early. Maybe it will be announced in 2026 with implementation in 2028 - that would make sense.
VAT was implemented in 2028.
CIT was implemented in 2023.
Adding PIT in 2028 would fit the five-year pattern.

They won't introduce a CGT. It will be like Cyprus.
 
If they do introduce a PIT then I expect it will have a high threshold before it kicks in perhaps.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.
 
Martin Everson said:
Martin Everson said:
If they do introduce a PIT then I expect it will have a high threshold before it kicks in perhaps.
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Definitely, they don't want to drive out all the low-skilled labor.
Also, there's a good chance there will be something equivalent to the "small-business relief" - a temporary regime where people start declaring their income, but not paying tax.
Then they just have to tighten the noose later.
 
Tony D said:
Tony D said:
That wouldn't make much sense if they introduce PIT, then they could say goodbye for good to their pricey real estate, and just that would put Dubai down ”¦
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No, not really. They just have to boil the frog slowly.
And the really wealthy live off capital gains anyway.
 
If they decide to do it - it may be something like this:
https://gfmag.com/economics-policy-regulation/gcc-income-tax-oman/

The Omani government is planning a levy ranging from 5% to 9%, but its application to citizens and expatriates will be different. Omani citizens will be taxed at a flat rate of 5% on their net global income above $1 million. Expatriates pay a tax on incomes exceeding $100,000
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Tax is such easy money... for sure when a country get a taste of its first tax, it can't stop wanting more.
 
Its amazing to see this much of ideas.. but i also strongly believe that these rumors are created for not creating panic in the future... so for sure there will be taxes.

As one of the friends answered, 9% is pretty logical for the start and i am also expecting it to come btw 2026-2028. But it shouldnt be missed that trade wars are probably gonna affect some countries trade and tax policies.

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