Recent content by gnud

Thanks! So there's no exemption if the freelancer does business only with companies outside of the UAE?

Hey everyone. By now UAE fz CT regulations should be well clarified. So how is it with the corporate tax and fz freelancers doing business with companies outside of the UAE? I keep finding old articles from the last year on google saying freelancers have an obligation to pay the corporate tax...

I see that even when the N26 wouldn't ask an account holder for his tax id, they still offer plenty of information for the tax authority to identify the person.

Ah yeah, sure, but the moment you purchase you're hit with the 27%, regardless of if it's domestic or abroad, that on top of that you won't be able to recover VAT since you export and thus don't charge VAT. So you end up paying the full VAT on your purchases. Glad I understood it right. Or not...

Why does the reverse charge mechanism exists then? As a supplier you don't charge VAT but the purchaser has to then pay a VAT a home, so some VAT is charged during the transaction, even if it's cross-border. There simply is no VAT-free B2B transaction. Or do I get it wrong?

Hm, really? I thought you need to charge VAT at all times when you're VAT registered and you'll use it to reclaim the VAT you were charged by other businesses and simply pay the difference to the tax office. Only in case of the US sales tax no tax is charged for purchases between businesses and...

Yes: Hungary - Individual - Income determination

After more than a year it's been quite ok, but right now I'm about to move my business to Dubai to further lower my taxes and simplify the setup. Too many complexities and risks running a business in Europe, and significant taxes and social charges on top of that. Hungary is considered low tax...

https://www.amcfz.ae/ doesn't load for me

Yeah I've been looking at Ajman, but no one really talks about it and it's suspiciously cheap over there. Ajman Media City Free Zone's website has been down for a while now. Looks like it's not a very desirable place for probably a very good reason. Last edited: Mar 20, 2023

How dangerous? I read everywhere how safe Dubai is because of the strict laws ...

Looking at Property Finder | Buy and Rent Real Estate in UAE I found multiple apartments for rent that are extremely cheap (around 20k AED / year or even less). Nothing seems to be wrong with them, so where's the trick?

So, move to the UAE, live there for 183 days, use a local bank for day to day expenses, get the certificate, terminate the rental contract, leave & come visit once in a while? Or stay only 90 days if you're an UAE-registered business owner. Meanwhile UAE free zone companies that don't do...

If there's a double tax treaty, it does not pay in the UK. However it has to pay in the place where from the business is actually ran.

So what do you put on the form 5472? > 7a Name and address of ultimate indirect 25% foreign shareholder > 7b(2) Reference ID number (see instructions) > 7b(3) FTIN, if any (see instructions) > 7c Principal country(ies) where business is conducted > 7e Country(ies) under whose laws the ultimate...