Working in Dubai - The Financial Benefits (Salary, Bonuses, Allowances)
Hi, Sunil here to discuss how working in Dubai is like (updated initially for 2008 facts. 2012 Update: things have turned due to the global economic slowdown).
A lot of this discussion is based on what I have learned from them and from my own independent research of Dubai.
Working in Dubai can be very good for many when compared to some of the western nations, especially the ‘no personal taxation’ part.
I am not sure how many of you have worked overseas, but if you had, you will be able to see the benefits of working here right away.
I am sure that the thought of so many workers not having to pay any personal tax must be giving some taxman a nightmare, but hey, let us enjoy the fruits of our labor. That is the attitude of the Dubai government at least.
The neat thing about having no personal tax is that you get to have a much higher net income than most of the workers elsewhere. Of course, it also depends on the job and the salary that comes with it. But by and large, the income per person is definitely much higher here than any other place.
In the past, the salary used to be separated as housing allowance, vehicle allowance, rent allowance but now, everyone gets paid a flat sum. In retrospect, this makes more sense and allows you more freedom to do what you want to do with your money.
Don’t forget the bonuses that some are lucky enough to get paid. Most of these bonuses are performance based and are a healthy percentage of base salary (also called basic salary). So if you do a good job, then you are sure to be rewarded for your hard work in one form or the other.
That’s another thing that I find attractive about working in Dubai. Hard work is certainly and immediately rewarded unlike other places where you would have to wait for months on end before any reward comes your way.
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