🚀 **Crypto-Friendly UAE: VAT Exemptions for Crypto Transfers!** 🚀

The UAE is making waves in the crypto world! Starting Nov. 15, the nation will exempt value-added tax (VAT) on crypto transfers and conversions. This move, announced by the Federal Tax Authority (FTA) on Oct. 2, is part of over 30 amendments in the updated VAT regulation.

Key points:

- VAT exemptions apply retroactively from Jan. 1, 2018.

- Aims to attract more crypto businesses and investors.

- Dubai and Abu Dhabi are leading the charge with favorable regulations.

What do you think about the UAE's crypto-friendly stance? Share your thoughts below! 💬