Goodbye Dubai - Will 9% Corporate Tax Hurt Dubai and UAE?

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UAE has recently announced that they are introducing a 9% corporate tax rate, effective June 2023.
UAE, and especially Dubai has been considered a modern tax haven where many wealthy ex-pats from around the world would settle to live. And it doesn't surprise why.

Dubai is a modern first-world city, with all the conveniences that you could get in Paris, New York, or London but with one big difference. You don't pay any tax, meaning you get to keep everything you make! No other world-class city offered such a benefit, and on the other hand, all the low or zero tax places weren't nearly as appealing as Dubai.
Dubai seemed to have it all.

However, due to the global pressure, they've decided to give in and introduce 9% corporate tax. Will this hurt them in the long term? If yes, how so? What is the future of UAE with taxes, and will it mean that fewer people will be moving here? These are questions that I've been getting a lot lately, so I'll try to cover them all today.

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Видео Goodbye Dubai - Will 9% Corporate Tax Hurt Dubai and UAE? канала Offshore Citizen