Will board members have to pay tax on their fees? According to multiple tax experts, the answer is yes.
Dubai: Board members of large companies will be required to pay a value-added tax of five percent on the fees they are given for their services, according to experts. Board members sit on the board of a company and vote on key business and corporate management issues, often acting as representatives of the shareholders. They are typically not employees of the company, and as a result, are paid a fee to attend board meetings and an annual retainer for their services.