Odaily Planet Daily News đ The United Arab Emirates (UAE) has made major amendments to the Value Added Tax (VAT) regulations, which will exempt the transfer and conversion of virtual assets (including cryptocurrencies) from VAT. PwC said the new regulations also include VAT exemptions for additional services such as managing investment funds and transferring and converting virtual assets.
In addition, Finanshels pointed out that the input VAT refund policy will allow registered businesses to claim back the VAT they have paid for eligible business purchases. This series of policy adjustments undoubtedly brings more flexibility and potential growth opportunities to the cryptocurrency market. đ
Although the overall market attitude is neutral, the outlook for Bitcoin remains optimistic.