It is said that Dubai is more known as a tourist spot. But with the changing times, Indians are turning towards Dubai. A big reason for this is the difference in the tax policy of India and Dubai. Dubai city of United Arab Emirates is a city where tourism is at its peak. People from all over the world come here in search of work.
Not only the highly educated but also people from the labor class are included in this. The safety and security of this city is famous all over the world. Even many citizens of India have made plans to settle in this city, while many have already settled here. But why is Dubai attracting Indians so much?
CA Pars Gangwal (@ThetaVegaCap) has tried to explain the attraction of Indians towards Dubai on the social media platform X. The CA has explained through his post that how there is a difference in the tax rates of India and Dubai. In this, he has talked about income tax, GST and capital gains. Let us explain in detail what this CA’s post says.
In Dubai
— CA Paaras Gangwal (@ThetaVegaCap) January 20, 2025
🟢No Income Tax
🟢No corporate Tax on Small Businesses
🟢Only 5% VAT
🟢No Capital Gain Tax
In India
🔴Pay Income Tax and Surcharge
🔴12-18% GST average
🔴12.5% Capital Gain
This is the major reason that HNI’s are shifting to Dubai #IncomeTax #Dubai #India
Whereas people in India generate income by working hard, then somewhere in their mind they think that they should not have to give it to anyone. And even if they have to give a part of it to the government, it should be minimal. But the income tax system in India is very confusing. Here, different taxes are levied on different incomes.
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In every budget, people expect that the government will give them relief in income tax. On the other hand, if we talk about Dubai, then you do not need to pay even a single rupee as tax on whatever you earn in Dubai. This is one of the major reasons due to which big industrialists settle in Dubai so that they do not need to pay any kind of tax on their income.