That’s why its better to pay few thousand and let the professional filled your tax return properly,
why UAE only in discussion in above topic of particular case , is because its assumed there is no tax on property in UAE so why don’t we charge it, however in reality Dubai Land Department charging 4% to buyer as transfer tax, and if some one renting his property is paying 5% as municipality tax.
@isloo1 , when I was used to advise 2-3 years back buying properties in Dubai , by now its increased 60-70%, moreover 50 % of devaluation of currency effect. Please see the facts in attached links, its all transparent here , not like exaugurated or downgraded by dealers and trapping innocents people.
@sohail.ahmed1, I am not saying Dubai property is a bad investment. It is just that a place that once used to be a safe heaven for Pakistani (and other countries’) black money, is gradually becoming unsafe. So hopefully black money will find new home.
Whether it will have any impact on Dubai market? Well it depends if other countries such as India, UK and Russia also take the same measures. Otherwise, Dubai will remain preferred choice for wealthy individuals.