Selling property abroad? Everything you need to know about the "tax on profit from the sale of assets" for expatriates in the UAE.

Dubai: When moving to another country, you often encounter the term "capital gains tax", especially when selling investments in your home country. Here is everything you need to know about this type of tax and how it can impact you and even help you save money.

"Capital gains tax can be complex for anyone, especially for those living abroad.

**`The capital gains tax applies to profits earned from the sale of various investments, including real estate, cars, jewelry, stocks, bonds, and sometimes even cryptocurrencies, and is applied to those living abroad.`

For example, as an expat, if you bought an investment like a house in your home country for $300,000 (1.1 million dirhams) or an equivalent amount in the currency of your country of residence, and sold it for $350,000 (1.3 million dirhams), you would have a capital gain of $50,000 (183,652 dirhams). Calculating capital gains or losses tax can be complicated.