The Expat Money Show - With Mikkel Thorup 085: Advocating for Sovereignty: Perspectives from an International Tax Expert – Warren Black
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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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
Every month, we offer exciting new webinars for our community. Topics include how to use retirement accounts to buy real estate overseas, how to get a second passport in Latin America, why you should sell your stock portfolio and move your money offshore, how to buy a beachfront rental property in Brazil for less than $100k, or apartments in Paraguay for $60k. If you want to join us for FREE for these presentations with live Q&A, insider secrets, and exclusive opportunities with my professional network of experts, then sign up today.
Into The Amazon—Then Straight To The Beach
This year, I’m taking a private group into the Amazon rainforest—then we head to Fortaleza and explore Brazil’s booming Northeast coast. Think Amazon river cruises, beachfront developments, and wide-open opportunity. From the heart of the rainforest to pristine beaches most people only dream about—this is bucket-list meets Plan-B strategy. If you’ve ever wanted to see the real Brazil and scout investments along the way, this is it. Go to ExpatMoney.com/Brazil.