Uniqueness !!! UAE is not a dependent or overseas territory of another country Pressure has been put on traditional low tax jurisdictions by the Commission of the European Community (EU) in conjunction with the Organization for Economic Cooperation and Development (OECD). The UK parliament has converted British Dependent Territories to British Overseas Territories (in 1998). The UK government may apply greater control over its tax haven progeny (ie Bermuda, BVI, Caymans, Gibraltar, Turks & Caicos) UAE has Double Taxation Avoidance Agreements (DTAA) with a number of countries Double taxation agreements prevent individuals and corporations from being susceptible to paying tax on the same item during the same time period. These agreements determine which of the two states concerned should levy tax in a particular situation: Austria, Belarus, Belgium, Canada, China, Czech Rep., Egypt, Finland, France, Germany, India, Indonesia, Italy, Lebanon, Malaysia, Malta, Morocco, New Zealand, Pakistan, Poland, Romania, Singapore, Sudan, Thailand, Tunisia, Turkey, Ukraine. UAE is not a member of the Organization for Economic Cooperation and Development (OECD) No foreign exchange of information. UAE is not on the OECD blacklist of tax havens (nor the FATF blacklist) UAE is not a member of the EU, and is not subject to EU regulation
Posted on: Wed, 02 Jul 2014 18:31:56 +0000
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