Those who move their permanent residence to Dubai usually want to leave as little or no assets as possible in Germany. This applies on the one hand to vehicles, but on the other hand also to objects with collector value – for example paintings and furniture as well as jewelry. But what should be considered for tax purposes if assets leave the country when exporting?
Export of Assets: The General Principles
In principle, within the EU, there is a free movement of people and goods. Items can therefore usually be transported back and forth between the individual member states without customs duties, but with certain restrictions (for example for alcohol and cigarettes). Therefore, it is also allowed as an entrepreneur to bring objects from Germany to Austria, for example.
Special features can apply, however, if economic goods are exported to third countries – for example Dubai. Although there are no export but import duties in Dubai.
Other exceptions apply if the items are part of an operating asset. In this case, German tax law regularly stipulates that an export is only possible if the hidden reserves are discovered. Depending on the individual case, this also applies to the sales tax, so that there is a taxation of the current market value of the object.
Export private assets: Attention when importing in Dubai!
Whether entrepreneur or private person: As long as the respective assets are in the private tax assets, an export does not trigger any tax consequences. Because here the owner has acquired the economic asset from already taxed income. Re-taxation would therefore be disproportionate.
Please note, however, the import duties incurred in Dubai. They are currently (as of 2024):
This article does not replace tax or legal advice in an individual case. Facts, current law, jurisdiction, documentation and implementation remain decisive.