I really do wonder where all these wild ideas and eventualities come from.
There is nothing much decided as of now
In fact, it seems better than anticipated according to that article of bloomberg :
The tax authority of the United Arab Emirates has announced that it will introduce a corporate tax on businesses in 2023. Parwin Dina of Global Tax Services and Varun Chablani of GTS Africa look at the new regime and consider some of the questions and issues which may arise for businesses.
So I guess it means : Day trading your own assets
in traditional finance in UAE, regardless of the volume and the frequency, does not require a license. Day trading crypto
your own asset should not require VARA, the paper seem to suggest only "providing" exchange service would require it, not trading itself, if someone could confirm that !.
Thus these activities would not require a license, and thus not be subject to CT, as long as you trade only your own balance : "If an individual has, or is required to have. a business license or permit, these individuals would be placed on an equal footing as compared to legal entities performing the same activities. Further, it generally appears that if a business license or permit is not required and not possessed either, then the activity is not considered to be a business."
quote ""The condition for taxability, as discussed above, generally, is with respect to (having a requirement to) obtaining a permit or a license. It appears that this individual trading in securities for their livelihood would not be considered to be undertaking a “business,” even though they may have a profit motive, perform the trades in a methodical manner, operate in substantial volumes, and largely undertake the steps and processes similar to an investment firm or a wealth management