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- The UAE Will Exempt VAT for Cryptocurrency Transactions
VAT on cryptocurrency transactions in the UAE will be abolished
Starting November 15, 2024, VAT will not be charged on several activities, including:
- Cryptocurrency Conversion
- Investment Fund Management
- Transfer of Ownership of Digital Assets
The regulator also considers refunding VAT previously paid on cryptocurrency transactions starting from January 1, 2018.
The rule was enacted under the UAE Cabinet Decision No. 100 of 2024.
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