I just watched a video about the situation in Dubai! When you hear about the problems they're facing in generating enough revenue for the area, it completely surprises me, but I'm starting to understand why they're softly introducing a 9% corporate tax! They risk going bankrupt in the UAE if they don't generate enough income by 2030, by which time oil is expected to be sold at spot prices due to the green transition with electric cars and renewable energy.
I don't know about you, but for me, the part about running out of money in Dubai sounds incredible and it completely took me by surprise. The fact that they underpay all the Indian and Pakistani guest workers is by now known, and that they also don't care about how they treat these people (whom they probably treat mostly like pests) doesn't surprise me either.
Moreover, more and more of these huge buildings with luxury apartments are standing empty, and they can hardly be sold now due to interest rate increases and other factors making it unattractive to buy a luxury apartment in Dubai. I didn't know this until now either.
The only option they have to further increase revenue is to introduce personal taxation, which would likely just cause the ultra-rich to move out and find other areas where they are not taxed, resulting in a total disaster for Dubai.
This provides a pretty good explanation for why there has been so much drama about the 9% corporate tax and broken promises in many threads here on OCT.
What's the status in Dubai, I know there are quite a few people here who live and work in Dubai on a daily basis, you must know what the conditions are?
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My Journey to successful card processing for Replica, IPTV, Adult and Gaming business.
I keep my journey in the closed forums in Mentor Group for less saturating methods.
Please understand that I don't sell any services or do consultancy, you don't need to contact me about that!
I don't know about you, but for me, the part about running out of money in Dubai sounds incredible and it completely took me by surprise. The fact that they underpay all the Indian and Pakistani guest workers is by now known, and that they also don't care about how they treat these people (whom they probably treat mostly like pests) doesn't surprise me either.
Moreover, more and more of these huge buildings with luxury apartments are standing empty, and they can hardly be sold now due to interest rate increases and other factors making it unattractive to buy a luxury apartment in Dubai. I didn't know this until now either.
The only option they have to further increase revenue is to introduce personal taxation, which would likely just cause the ultra-rich to move out and find other areas where they are not taxed, resulting in a total disaster for Dubai.
This provides a pretty good explanation for why there has been so much drama about the 9% corporate tax and broken promises in many threads here on OCT.
What's the status in Dubai, I know there are quite a few people here who live and work in Dubai on a daily basis, you must know what the conditions are?
Toggle signature
My Journey to successful card processing for Replica, IPTV, Adult and Gaming business.
I keep my journey in the closed forums in Mentor Group for less saturating methods.
Please understand that I don't sell any services or do consultancy, you don't need to contact me about that!
