Скачать или смотреть Tax havens are doomed! Why Dubai will survive

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I personally believe that one of the growing trends that is here to stay is the growth of inequality. I also believe that most governments aren't equipped to handle this inequality.

This will lead to erosion of the middle class and lack of affordability in society. This will motivate the middle class to vote towards higher taxes for the wealthy. This could also affect global minimum tax and affect traditionally tax free countries, or tax havens.

What will this mean for the Middle East?

Countries such as Saudi Arabia, United Arab Emirates, Qatar, Bahrain, Oman and Kuwait were able to have zero or low taxes because of their enormous oil revenue. However, these are non-renewable resources so eventually they will run out. So, how will these governments bring money in?

You guessed it taxes: VAT, corporate tax, income tax, etc.

However, they will still want to remain competitive on the global scene, since they want to attract foreigners. UAE introduced corporate tax, but it is only 9% which is quite good compared to the alternatives.

These countries will build diversified portfolio and invest into assets that will be sustainable long term, such as tourism, real estate, tech, etc.

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