The offshore centres of the United Arab Emirates attract companies and investors by low or zero taxation and weak regulatory compliance rules, often connected with simple and fast incorporation procedures. However, as Sabine Ebert points out, other countries have enacted legislation, meaning international legal and tax advice is needed and carefully structured set-ups are essential to avoid shortfalls.
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The political optics of the US’s carve-out deal are poor, but as the Fair Tax Foundation’s Paul Monaghan writes, it preserves pillar two’s guiding ethos
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