The UAE just got a whole lot friendlier with its new no tax policy on crypto. Like El Salvador, the UAE may just become the next haven for crypto enthusiasts. Most countries in Europe tax over 30% of your profits. Do you think the UK and other countries in Europe will make such a move in the near future?
How in the name of god can you cram so many misleading things in just three lines of text?
1) UAE is removing VAT only in crypto transfers, this means you're not going to pay VAT on buying crypto!
The only thing that has been amended is the transfer of crypt not being charged VAT:
https://www.pwc.com/m1/en/services/tax/me-tax-legal-news/2024/uae-vat-executive-regulation-amendments.htmlArticle 42 - Tax treatment of financial services
Additional services are exempt from VAT:
Transferring ownership of Virtual Assets, including cryptocurrencies
2) Most European countries didn't even have VAT on crypto transfers at all and never had them
3) Taxes on profits are not over 30% in most European countries, actually in most of them are closer to 10% and in some cases, like Germany, you don't even pay tax if you have held your cryptos for more than one year!
So sorry, but if you're looking at the actual reality, it's the other countries in the world that need to copy Europe, not the other way around!