Re: UAE removes taxes for all crypto transactions

Quote from: sarmrakib on Today at 01:56:05 PM

Quote from: SatoPrincess on October 07, 2024, 06:54:57 AM

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The UAE has exempted cryptocurrency transfers and conversions from value-added tax, positioning itself as a more crypto-friendly jurisdiction for digital asset transactions.

Amendments to value-added tax (VAT) regulations in the United Arab Emirates will exempt transfers and conversions of digital assets, including crypto.

On Oct. 2, the UAE’s Federal Tax Authority (FTA) published amendments to the country’s VAT rules. According to business consultancy company PwC, the new rules include VAT exemptions for additional services, including managing investment funds and transferring and converting virtual assets
source

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?

This is a great example for all the countries to know about crypto more and remove taxes. However it is also shown to the world how popular crypto now to the world. We have seen El Salvador proved that crypto is a real currency and a strong future. I have still believe that UAE is the leading country to the world who is always a great example for the developed countries . We have seen huge taxes on crypto to many countries though the except is. Its not a friendly for the user. So that they should think again and also follow UAE and make encourage to the user to involve with crypto.

I think the passage of time all countries will change their taxation system especially in cryptocurrency. Today, all major crypto traders in the world have their eyes set on El Salvador, a country offering tax-free use of cryptocurrencies. In that direction UAE is also trying to attract the attention of all the world's crypto entrepreneurs to their country. The opportunity that El Salvador offers will also move forward in the same way. As a result, crypto users will now have more opportunities in all cases. The biggest thing is that the UAE is making their country a paradise for cryptocurrency users all over the world.