sammi

Hi,
Since we don't need to pay income tax when working in Dubai is it taxable by our native country if we bring our money out to our native country when we leave Dubai ?
Thanx

1962

I've been told that the best thing to do is open an 'off-shore' account - that way you won't be taxed. I'm certainly no expert though and I am looking for definitive answers to the same question!

Mercedes

I heard recently if you are a resident of Dubai, you don´t have to pay tax, however depending on how long you have been outside UK you could still be classed as a resident and then taxed. I think it is 5 years being outside UK, but could be wrong on that. Personally would get a bank account in Dubai and credit card and use it when you go back, in that way the authorities don´t necessarily know what you are spending. Be careful in UK now as from October 2003 lawyers, accountants etc etc etc are by law to inform the authorities if they think you are avoiding tax.......I wouldnt take the money back into the UK system if I was you. Becareful also of offshore accounts now as again they are in touch with home countries and nowadays again they are obliged to inform your authorities, they are tightening up on money laundering and tax evasion especially in the UK......be very careful. Talk to a tax consultant before making any decisions that is upto date on the current laws especially UK.

Thats my two pence worth.

Mercedes.