Belgian Cayman tax: Dubai structure exempted after a solid substance file
A Belgian entrepreneur with a UAE Free Zone company (FZCO) faced an audit by the Belgian tax authority. It ruled that the FZCO was a legal construction under the Cayman tax, taxing the entire profit directly in the hands of the Belgian shareholder.
Tax at stake
Period under audit
Structure in the UAE
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The tax authority accepted the file. The Cayman tax was not applied. A potential additional tax burden of roughly €280,000 over two tax years was fully avoided.
Tax avoided
Application of Cayman tax
File accepted
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