CryptoMediaClub
Tuesday, July 8, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home All news

UAE Authorities Exempt Crypto Companies from VAT

07.10.2024
A A
0
119
VIEWS
ShareShare

The United Arab Emirates Ministry of Finance made a series of amendments to tax laws, exempting certain cryptocurrency transactions from value added tax (VAT).

UAE Changes Crypto Tax Rules

The UAE Cabinet approved a resolution to amend the Executive Regulation of Federal Decree-Law No. 8 of 2017 on value added tax (VAT). According to local media, the Federal Tax Authority (FTA) exempted certain transactions involving digital assets from taxation.

The changes apply to:

  • transfer of ownership of virtual assets, including cryptocurrencies;
  • conversion of virtual assets;
  • management of investment funds.

These types of transactions will no longer be subject to VAT. Notably, the new rules will apply retroactively to transactions carried out from January 1, 2018, meaning that taxpayers will be able to recalculate for previous periods. Thus, crypto companies will audit their previous tax returns and claim refunds for the past six years.

Virtual assets in the UAE are defined as a digital representation of value that can be exchanged or converted and used for investment purposes. However, such transactions must be conducted without fiat currencies and securities.

According to Younis Haji Al Khoori, Undersecretary of the Ministry of Finance, the main purpose of the amendments to the tax legislation is to stimulate the growth of the investment management sector and enhance the attractiveness of the UAE as a leading investment hub.

The UAE authorities are actively improving the regulatory framework for the digital asset sector. A cooperation agreement was recently signed between Dubai’s Virtual Assets Regulatory Authority (VARA) and the Securities and Commodities Authority (SCA) to create a unified licensing system for virtual asset service providers (VASP). In turn, the Central Bank of the United Arab Emirates (CBUAE) approved rules for the issuance of stablecoins in the region and updated requirements for licensed financial institutions (LFI) interacting with VASPs.

Сообщение UAE Authorities Exempt Crypto Companies from VAT появились сначала на CoinsPaid Media.

Share9Tweet6ShareSharePin2

Related Posts

Vitalik Buterin Urges Crypto to Embrace ‘Copyleft’ Licensing to Revive Open-Source Ethos
All news

Vitalik Buterin Urges Crypto to Embrace ‘Copyleft’ Licensing to Revive Open-Source Ethos

08.07.2025
0

Ethereum co-founder Vitalik Buterin has called on the crypto community to shift toward “copyleft” licensing, arguing that the sector is...

Read moreDetails
[LIVE] Crypto News Today: Latest Updates for July 8, 2025 — Nasdaq-Listed Murano Global Adopts Bitcoin Treasury Strategy With $500M Backing

[LIVE] Crypto News Today: Latest Updates for July 8, 2025 — Nasdaq-Listed Murano Global Adopts Bitcoin Treasury Strategy With $500M Backing

08.07.2025
Software Developer Polaris Office Joins South Korea’s Stablecoin Craze

Software Developer Polaris Office Joins South Korea’s Stablecoin Craze

08.07.2025
London Duo Jailed for $2 Million Crypto Scheme

London Duo Jailed for $2 Million Crypto Scheme

08.07.2025
ChatGPT’s 42-Signal TON Analysis Flags Critical $2.70 Support Collapse After UAE Golden Visa Scandal

ChatGPT’s 42-Signal TON Analysis Flags Critical $2.70 Support Collapse After UAE Golden Visa Scandal

08.07.2025
Load More
Next Post
XRP Price Analysis: Ripple May Win Against SEC, Legal Expert Says — Key Levels to Watch

XRP Price Analysis: Ripple May Win Against SEC, Legal Expert Says — Key Levels to Watch

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

XRPL Account Growth Skyrockets Amid Rising Optimism in the Community

XRPL Account Growth Skyrockets Amid Rising Optimism in the Community

2 years ago
‘Bitcoin Is Not Exactly Money’: IMF Managing Director

‘Bitcoin Is Not Exactly Money’: IMF Managing Director

1 year ago
Solana Defies Bearish December, DEX Trading Volume Surpasses $100B

Solana Defies Bearish December, DEX Trading Volume Surpasses $100B

6 months ago
dYdX Prepones Launch of Cosmos-based Public Testnet

dYdX Prepones Launch of Cosmos-based Public Testnet

2 years ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

London Duo Jailed for $2 Million Crypto Scheme

Bitcoin remains stuck in $100k-$110k band as retail and whales enter potential standoff

ChatGPT’s 42-Signal TON Analysis Flags Critical $2.70 Support Collapse After UAE Golden Visa Scandal

Pi Coin Price Prediction: Daily Volume Collapses Below $100M – Are Whales Dumping and Vanishing for Good?

DDC Enterprise’s Bold Bitcoin Move: Boosting Holdings to 368 BTC Signals Strategic Shift

BONK’s SOL Buying Spree Counters Pump.Fun $741M Sell-off – Can LetsBONK Trigger 70% Pump?

Trending

Vitalik Buterin Urges Crypto to Embrace ‘Copyleft’ Licensing to Revive Open-Source Ethos
All news

Vitalik Buterin Urges Crypto to Embrace ‘Copyleft’ Licensing to Revive Open-Source Ethos

08.07.2025
0

Ethereum co-founder Vitalik Buterin has called on the crypto community to shift toward “copyleft” licensing, arguing that...

[LIVE] Crypto News Today: Latest Updates for July 8, 2025 — Nasdaq-Listed Murano Global Adopts Bitcoin Treasury Strategy With $500M Backing

[LIVE] Crypto News Today: Latest Updates for July 8, 2025 — Nasdaq-Listed Murano Global Adopts Bitcoin Treasury Strategy With $500M Backing

08.07.2025
Software Developer Polaris Office Joins South Korea’s Stablecoin Craze

Software Developer Polaris Office Joins South Korea’s Stablecoin Craze

08.07.2025
London Duo Jailed for $2 Million Crypto Scheme

London Duo Jailed for $2 Million Crypto Scheme

08.07.2025
Bitcoin remains stuck in $100k-$110k band as retail and whales enter potential standoff

Bitcoin remains stuck in $100k-$110k band as retail and whales enter potential standoff

08.07.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz