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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Belt and Road Initiative countries face tax incentive conundrums due to pillar two, but relatively few countries would seek to scrap the project, ITR has heard
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