My First Helicopter Take-Off in a Robinson R44 Cadet from Elstree Airfield 🇬🇧

[@jesselivermore9285]

Hey mate can I ask you a question about your UAE FZ company? I have been looking into the new corporate tax rules and FZ companies are liable for the new corporate tax as far as I can see. What is your understanding in terms of what they call FZ qualified income and tax exempt activities? From what I can see all FZ companies are subject to corporate tax. Do you need to file annual audit reports and tax returns with an IFZA company? Also how have you been getting on with UAE banks has it been an easy or difficult process? Cheers all the best.

[@AaronHenray]

Okay so 99% of free zone companies that are set up pay corporation tax. From my understand tax deductible offsetting is treated the same way as the UK pretty much. There’s an annual tax return I believe from this year companies must start registering. There are some freezone types that pay no corporation tax but it’s very limited and it was things like offshore shipping companies. That said corp tax is 9% on profits. Income tax is still 0%. You’re still winning vs pretty much anywhere else in the world provided you follow the rules. I’d suggest you find an accountant in the UAE if you want advice though. As for banking it wasn’t difficult once I had my emirates ID, phone number and was physically in Dubai.

[@jesselivermore9285]

@@AaronHenray cheers thanks for the reply. Seems like it is definitely now the case that FZ companies need to register with tax authorities, keep records incase of an audit and file annual tax returns. Good to hear banks arent as difficult as people claim, sounds like its easy enough to open bank accounts once you have a UAE ID.

[@AaronHenray]

You beat me to it, but incase anyone else is looking at your question here's a link to the answer kzbin.info/www/bejne/f2jOd5mhj5qEg9k