Gulfnews.com: Several more leading Dubai-based developers have reacted positively to this week's launch of the Real Estate Regulatory Authority (RERA), a subsidiary of Dubai Land Department that will regulate the property sector.
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2 comments:
About IRS, Taxes in Dubai
Won't the IRS crack down on businesses trying to evade
taxes in Dubai?
There is some confusion here. The tax benefits in Dubai are not some shady or secret thing. If you want to evade taxes, Dubai is not the place to do it.
Dubai has a legal tax free status for many corporations and
individuals. The IRS has no problem with this and it is not illegal in any way. The US is well aware of and supportive of the UAE and its interactions with American companies, including tax treatment.
What would be illegal is an American not reporting his income
in Dubai (or anywhere else) to the IRS. Americans must report all worldwide income to the IRS in America. This law is no different than if someone
is in Minnesota, California or England. The difference is that in Dubai they do not receive double taxation from the UAE government.
Dubai has no income taxes and in many special districts such
as the Dubai International Financial Center, no corporate taxes.
Actually..... oil makes up one third of the United Arab Emirates GNP.
About IRS, Taxes in Dubai,
Dubai property
Won't the IRS crack down on businesses trying to evade
taxes in Dubai?
There is some confusion here. The tax benefits in Dubai are not some shady or secret thing. If you want to evade taxes, Dubai is not the place to do it.
Dubai has a legal tax free status for many corporations and
individuals. The IRS has no problem with this and it is not illegal in any way. The US is well aware of and supportive of the UAE and its interactions with American companies, including tax treatment.
What would be illegal is an American not reporting his income
in Dubai (or anywhere else) to the IRS. Americans must report all worldwide income to the IRS in America. This law is no different than if someone
is in Minnesota, California or England. The difference is that in Dubai they do not receive double taxation from the UAE government.
Dubai has no income taxes and in many special districts such
as the Dubai International Financial Center, no corporate taxes.
Actually..... oil makes up one third of the United Arab Emirates GNP.
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