If people are honest, and by people I mean myself as I cannot speak for anyone else, they would admit that the main draw card for living in this region is the fact that it’s tax-free. Now of course there are those that will tell you that whilst it may be tax-free there are so many hidden costs, and fees for EVERYTHING, that when living here it can sometimes feel like you ARE paying a kind of tax. I am not sure that I agree with that, well not entirely anyway. Perhaps if you are coming from Europe or the US it may seem this way, but for me, coming from Africa, that part (the paying a fee for everything part) is normal. In South Africa, not only is there a fee for everything, and double it if you want something quickly, but you also pay hefty amounts in tax; both personal and VAT, as well as capital gains tax, estate duty, transfer duty, etc, etc, ad nauseum. For us, then, the fact that the UAE is still a tax-free place was a big plus when making our decision to come here.
(more…)