UAE - Will Exempt Crypto Transactions From VAT

The amendment also exempts additional services, namely investment fund management, transfer of ownership of crypto assets, and conversion of crypto assets, from VAT starting November 15, 2024.

VAT (value-added tax) is a consumption tax that is applied to goods and services at each stage of production or distribution. The move could make using crypto more attractive to businesses and investors, as there will be less tax burden on crypto-related activities.

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