VAT to come next year

[flaphandlemover]

I was told by a Standard Chartered Bank employee that they where told that
UAE will implement a VAT of 7% by next year.

So another increase in expense in DXB beside the fuel price hike..

[emratty]

Dubai is as good as bankrupt this is an inevitable next step. The economic storm that is going to hit Dubai will make 2009 seem a small dip.
Another Dubai debt crunch is looming as oil slump hits Gulf - Telegraph (http://www.telegraph.co.uk/finance/oilprices/11776815/Another-Dubai-debt-crunch-is-looming-as-oil-slump-hits-Gulf.html)

[paokara]

EK should start canceling orders and put a few used ones for sale


Let's hope no pay cuts for the pilots !! A friend of mine is 777 FO on his 4 th year and said he makes 14-15 thousand per month so I guess he could take a small cut !!!

[Bowwing]

Paokara.. Assuming your friend was quoting their salary in USD I'm afraid to tell you he is telling porky pies... Your friend doesn't work in EK recruitment by any chance?

[fatbus]

Most elevated wage quotes include housing and sometimes schooling. Check the website it easy to figure out what the pay is and at year 4 add about 15%.

[AirChaser]

so, what's the realistic take home pay for a newbie?

[BobDole]

Not enough.

:ugh:

[Am NOT Sure]

If money is your drive

Qr offers more for less bleeding

[Fear_of_heights]

4th year FO with School allowance for 2 kids , housing allowance and 90 hours a month will take you to 15k USD... We have way bigger problems in this company than this argument of US vs G3...:ugh::ugh:

[Trader]

Not including school allowance - which you don't see and only covers, at most, 90% and not including housing since that's not an option taken by most an FO take home is in the neighborhood of 30,000 dhms or 8,500 US.

[DCS99]

Dubai is as good as bankrupt this is an inevitable next step. The economic storm that is going to hit Dubai will make 2009 seem a small dip.
Another Dubai debt crunch is looming as oil slump hits Gulf - Telegraph (http://www.telegraph.co.uk/finance/oilprices/11776815/Another-Dubai-debt-crunch-is-looming-as-oil-slump-hits-Gulf.html)

There's no debt problem.

http://www.arabianmoney.net/islamic-finance/2015/02/16/no-repeat-of-the-2009-dubai-debt-crisis-now-possible-as-dubai-world-signs-off-14-6bn-refinancing-deal/

"No repeat"
Everything is fine.
Nothing to see here.

[paokara]

8500 per month in your pocket after 4 years ? Really

I guess my friend just trying to impress me

[nsiotto]

Firstly the exact percentage of the vat has not been announced yet. IMF suggested 5% and it will not affect essential goods but only luxury goods.
UAE said to press ahead with VAT, corporation tax plans - ArabianBusiness.com (http://www.arabianbusiness.com/uae-said-press-ahead-with-vat-corporation-tax-plans-602675.html)

[Monarch Man]

Firstly the exact percentage of the vat has not been announced yet. IMF suggested 5% and it will not affect essential goods but only luxury goods.
UAE said to press ahead with VAT, corporation tax plans - ArabianBusiness.com

Ohhh look, theres something pink flying past! and look, theres a funny smell coming from that brown pile over there.

[nsiotto]

I am sure in your country VAT it's zero. Right?

[littlejet]

I am sure in your country VAT it's zero. Right?

It isn't but what is the tax for?

The healthcare is not free
The roads are not free
Education is not free
Residence is not free nor permanent
There is no social security for residents.

[nsiotto]

Pilots working for Emirates or Etihad get all sort of allowances, top medical insurance, abundant accommodation allowance, school fees (2 to 4 kids depending on seniority) and discounts I could only dream of in restaurants, SPA's, gym, etc. Moreover a pilot friend of mine told me they also have a retirement fund paid by Emirates. Oh forgot, salaries are tax free.

In the private sectors lucky ones get similar treats or a neighbor of mine has a salary which compensates all the above.

Then if you want to convince me that there is a portion of residents that miss all the above, well yes. In my country as a matter of fact I know many that miss a job which in my view makes things even worse. Or not?

P.S. Forgot to mention that the government subsidized all infrastructures and services as long as the barrel could generate revenue which isn't in the last 16 months at least.

[littlejet]

That is exactly my point

DEFINITION of 'Taxes'

An involuntary fee levied on corporations or individuals that is enforced by a level of government in order to finance government activities.

Let's say you are laid off from your work...

Till you find another job,

Can you apply for unemployment benefits?
Can you remain on your healthcare plan?
Can you stay in the Country?
Can your kids continue the school for free?

[SOPS]

Don't feed the troll.

[littlejet]

VAT aims to improve the economic state or furtherance of a State.
Introduction of taxes will lead to income taxes in near future in my opinion

If I have no real view of what I am paying for why should I welcome it, be it only 5% on Rolex watches

When I worked as a free lancer in Italy I had to pay 1800 a year extra to the social system for contributing to the healthcare which in some part of the country sends you to heaven

Did you enjoy paying 1800 Eur for nothing?

[littlejet]

What SOPS has to do with this?

[nakbin330]

SOPS' opinion is fast becoming a requirement .. good, someone in the real world who knows what La La Land is all about.

[White Knight]

nsiotto. I don't have any electoral rights here so why should I pay any form of tax here in Dubai?

[Metro man]

The problem with VAT/GST is once it's introduced it never goes away. In the UK income tax was a temporary levy to pay for the Napoleonic wars and the population is still waiting for it to end.

It's the thin end of the wedge, the tax will start out low and cover a small range of goods, next thing you know it will be 20% on virtually everything. The temptation is simply too much when faced with a shortfall to add 1 or 2% to the rate, or broaden the scope of the tax.

[Saltaire]

Much about nothing - for now at least. Keep in mind, all GCC countries need to mutually agree. I'd say at least 5 years away.

UAE says VAT plan delayed by disagreement in region - ArabianBusiness.com (http://www.arabianbusiness.com/uae-says-vat-plan-delayed-by-disagreement-in-region-603167.html)

[Neptune Spear]

Nisotto even though most of your posts are truly idiotic your statement about no income tax in the UAE is technically correct. However if you think you are not taxed in Dubai you are more delusional than what you write on these forums.

[Neptune Spear]

You have offended me with your comment that how can you not like EK when you don't even work here or are a pilot.
You have no idea what is going on here. While it is true I do better than a Bangalore street peddler there is a distinct difference in the talent level and training background. How do I do with other 777 FOs that is the question and Emirates just doesn't stack up when posed that way.
For someone who doesn't care to reply you sure do a lot of typing. I have every right to offend you when idiotic statements are issued.
Why don't you try to make your construction busines better and I'll try and find a better flying job. It won't be too hard for me but you on the other hand....

[Bindair Dundat]

Much about nothing - for now at least. Keep in mind, all GCC countries need to mutually agree. I'd say at least 5 years away.

UAE says VAT plan delayed by disagreement in region - ArabianBusiness.com (http://www.arabianbusiness.com/uae-says-vat-plan-delayed-by-disagreement-in-region-603167.html)

Five years away...super optimistic, however, it misses the point that there are way bigger problems facing the region. Oil prices. If oil stays at it's current level, the whole region is in for a boatload of pain. Saudi's plan has backfired and the shortfall in budgets will kill the region. Stability is bought in the Gulf, what happens when they can't pay off the right people? Whether it be VAT or some other insane form of 'non-taxation' they will put the screws to the expat population in the region to try and keep their governmental entitlement programs afloat. If they can't, you better have a plan B.

[The Outlaw]

Please just go away...stop posting here...for your own dignity.

You are making yourself look foolish, you have ABSOLUTELY nothing of value to put forward because you have no idea about the country and the circumstances of the people who have ACTUALLY lived and worked here many, many years particularly in professional aviation.

Add to that, you have zero credibility, experience or exposure to the subjects onto which you clearly show your ignorance, stick to flying your microsoft flight simulator.

As was stated earlier, spend the hundreds of thousand of euro's and at least 20 years dedicated to the profession before your arguments will be heard without dismissal, until then heed these words...."A closed mouth gathers no foot".

Not a personal attack...just advice.

[Saltaire]

DB- Naturally - but from the depths of 09 when we all thought we might head home - who knows. Endless possibilities. The VAT is not happening for awhile. Start an oil crash war erupting doom and gloom threat. :O

[Nedul]

This reminds me of when my Mum walked into the pub and started banging on about her vegetable patch to my mates who we're trying to have a civilized discussion about girls and stuff! She was blissfully unaware of how out of place it was!
Nsiotto, perhaps you may like to go and vent your clap trap on the Professional Construction Workers Rumour Network! It's not needed here.........

[Neptune Spear]

Wow, I'll say it again for Nsitto who wasn't going to come back and comment and wasn't worth replying to you sure do a lot of typing and responding.
Is the construction business that slow?