UAE - Today
- Thread starter JackieTsan
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There is no need for a physical office, employees, or expenditures in several business areas like selling software. Google ESR.
Reading all the complicated tax queries here, and first off I must declare I know nothing about tax (actually my wife is frem a wrist stinging Scandinavian country and always jokes that she will teach me 'what is tax' one day.
However I do have an involvement in a RAK FZ company for another (as I am here permanently and next month reaching 30 years), and I can confirm that all companies on mainland or FZ must register for tax. Now if you merely moving paperwork and moving materials/goods from one country to a 3rd country as far as I know you do not pay︀ tax, but if you import and sell goods etc on the mainland then immediately you︁ will pay 9%. It is the tax authorities who will decide that you perhaps didn't︂ reach a threshold (at present +/- US$100,000 p.a.) and are therefore exempt.
They (UAE) dont︃ need all this nonsense, but have been forced by OECD, Central Banks, World Bank, EU/UK/USA︄ politicians etc etc to bring in a tax. It also gave the UAE Govt a︅ whole new sector where they could employ their own population as they were running out︆ of Govt posts, so this has been 'a god-send' (or maybe an allah-send). Now there︇ is whole new industry the FTA (Federal Tax Authority) employing thousands of locals to track/trace/harry/annoy/bother︈ every compasny for their tax returns - how do I know? Because I forgot the︉ 1st return and no joking, I received maybe 10-12 emails, 8-10 SMS messages and one︊ phone call in a 48 hour period. What did I learn ............ DO NOT FORGET︋ EVER AGAIN!!!!!
However I do have an involvement in a RAK FZ company for another (as I am here permanently and next month reaching 30 years), and I can confirm that all companies on mainland or FZ must register for tax. Now if you merely moving paperwork and moving materials/goods from one country to a 3rd country as far as I know you do not pay︀ tax, but if you import and sell goods etc on the mainland then immediately you︁ will pay 9%. It is the tax authorities who will decide that you perhaps didn't︂ reach a threshold (at present +/- US$100,000 p.a.) and are therefore exempt.
They (UAE) dont︃ need all this nonsense, but have been forced by OECD, Central Banks, World Bank, EU/UK/USA︄ politicians etc etc to bring in a tax. It also gave the UAE Govt a︅ whole new sector where they could employ their own population as they were running out︆ of Govt posts, so this has been 'a god-send' (or maybe an allah-send). Now there︇ is whole new industry the FTA (Federal Tax Authority) employing thousands of locals to track/trace/harry/annoy/bother︈ every compasny for their tax returns - how do I know? Because I forgot the︉ 1st return and no joking, I received maybe 10-12 emails, 8-10 SMS messages and one︊ phone call in a 48 hour period. What did I learn ............ DO NOT FORGET︋ EVER AGAIN!!!!!
Hi Diro, yes, it’s a good idea, and I hope for the big admin, to consider a generous discount for the lifetime for Black Friday, I’d really go for it. But since I’m not one of the rich guys that are using it so for me is not That easy.
You guys, you can discuss, is black Friday, and would be nice idea to︀ do an attracting discount to the lifetime option for us the people that are dreaming︁ to become HNWI
You guys, you can discuss, is black Friday, and would be nice idea to︀ do an attracting discount to the lifetime option for us the people that are dreaming︁ to become HNWI
There are many options depending on the "budget". I am going with a BVI it's the best option. No headaches; UAE makes it every day more difficult and the most important : Nothing is clear!, still, or at least I can't find the right info. I don't know what and if I will have to pay (tax), if they will accept the Small Business Relief, etc. How one can work like that and focus on the company needs when every day there are changes? Not for me, sorry. I am signed up to a few︀ accountant firms and almost every 2-3 days I get new updates. Not for me.
Still looking to decide if it will be BVI or something else. My customers are in︁ Europe and the most important is to be a whitelisted region for EU. Everything is︂ clear, nothing shady or illegal. Thank you!
Still looking to decide if it will be BVI or something else. My customers are in︁ Europe and the most important is to be a whitelisted region for EU. Everything is︂ clear, nothing shady or illegal. Thank you!
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