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May 08, 2008
Want the Citibank Co-Head of Investment Banking? Call Dubai
Link: Deal Journal - WSJ.com : It's Dubai, Mumbai or Good-Bye.
Investment banks following the money trail are shifting some top earners to Dubai to help tap the booming oil-rich Persian Gulf economies and the estimated $1.5 trillion held by sovereign wealth funds there.
The latest is Alberto Verme, the co-head of its investment-banking unit. He is supposed to help win more business in what his employer describes as “one of the world’s fastest-growing and most important regions.”
...Bankers moving to the region get a big perk: no local taxes on their six- or seven-digit pay packages.
Posted by Anupam Chander on May 8, 2008 at 01:44 PM in Globalization | Permalink
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Comments
We have to be honest... Not to Pay taxes sounds better... the problem is that, Countries need money.. goverments can't work without it.
Countries get their incomes from 4 different ways
1. Having a natural resource to exploit (Iran)
2. Export high value products.(Japan)
3. Intensive manpower to produce a lot (China)
4. Taxes...
No country can survive without taxes, unless they manage to get resources from the other ways and just a few countries can do that...
Posted by: Computer Rentals | Jan 29, 2011 9:17:23 AM
