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085: Advocating for Sovereignty: Perspectives from an International Tax Expert – Warren Black

The Expat Money Show - With Mikkel Thorup
The Expat Money Show - With Mikkel Thorup
Episode • Dec 9, 2019 • 1h 6m
It's great to be back! It's been a few months since I've had the opportunity to sit down at my desk, put on headphones, and interview some of the most brilliant minds in the expat space. I'm happy to announce that today, I had an amazing conversation with Mr. Warren Black from WealthSafe. .

WHAT WE DISCUSSED IN THIS INTERVIEW:

  • Living in Abu Dhabi, UAE: Mikkel Thorup and his family lived in the UAE for over 8 years, enjoying zero income tax and no other taxes initially.
  • Implementation of VAT: Two years ago, the UAE implemented a 5% VAT on all purchases, generating significant revenue.
  • Upcoming Taxes: The government plans to introduce several new taxes within the next 18 months:
    • 100% tax on tobacco
    • 50% tax on soft drinks
    • Corporate tax
    • Property tax
    • Income tax

  • Impact on Residents: These new taxes may deter people from living in the UAE, as many moved there for tax-free income. The population is predicted to decrease.
  • Economic Consequences: Companies may need to double wages to retain employees, leading to higher costs of goods and making the UAE less attractive to live and work in.

 

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CONCLUSION

I had a ton of fun with this interview with Warren Black from Wealth Safe. He is a die-hard libertarian, like me, so we had a lot to chat about. I know you'll love this interview as much as I do. Make sure to sign up for my newsletter, I know you'll get a ton of value from it.  

Mentioned in this episode:

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Join Us For Upcoming Live Webinars

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