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billybobs

New member
Can anyone please clarify the 2 scenarios below and how this new global corporation tax would effect me any different to now -

1. Im a UK resident with UK company and sell goods and services worldwide (USA, UK, Europe etc)

2. Im a UAE resident with UAE company and sell goods and services worldwide (USA, UK, Europe etc)

Thankyou
 

Sols

Staff member
Mentor Group Gold
You're going to have to book an appointment with a fortune teller if you want firm answers. Nothing is for certain yet. No international treaties and laws have been written, voted on, and put into effect.
 

vvvictor

New member
they only know how to raise taxes, impressive It's really hard to understand what's going to happen. Surely not everyone will join
 

Martin Everson

Offshore Retiree
Staff member
Mentor Group Gold
Elite Member
Any opinions if/how this will effect UAE property market?

UAE property market is about dirty, stolen or untaxed money flowing into it. Don't think this will change anything there.
 

GPT

Active Member
No answers can be given at this moment. The only thing I can say from experience is that "when one door closes, two new doors open".
Keep in mind that it takes (a) decade(s) to come up with a proposal and implement it globally. It takes hours to find a new loophole once its clear on how it will affect "us".

I wouldn't worry too much about it.

I hope for this but no one know. Maybe AMZ, FB, GOOG will take some action against. I hope this tax will help governs to reduce all others tax on people, if not, is a scam
Tax = theft. Always. No exception.
 

GPT

Active Member
If selling goods to Europe, definitely a UK company because of the new VAT regulation in Europe arriving in July 1, 2021!
Why would that be beneficial? VAT still needs to be paid in the respective EU countries. Having a UK company is setting yourself up for more admin which means higher accounting costs... A European entity is easier from a compliance point of view and therefore cheaper to maintain.
 

fbsworld

New member
Why would that be beneficial? VAT still needs to be paid in the respective EU countries. Having a UK company is setting yourself up for more admin which means higher accounting costs... A European entity is easier from a compliance point of view and therefore cheaper to maintain.
You have to consider 2 points about ecommerce in the EU:
- fiscal transparency of the UK LLP (if you live in a no income tax coutry for sure)
- EU VAT tax agent (for a UK company or any other UE company) versus EU VAT tax representative (for a non-UE company)
 

GPT

Active Member
You have to consider 2 points about ecommerce in the EU:
- fiscal transparency of the UK LLP (if you live in a no income tax coutry for sure)
- EU VAT tax agent (for a UK company or any other UE company) versus EU VAT tax representative (for a non-UE company)
I probably don't understand... why then preferring a UK entity over an EU entity?
 

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