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The UAE has eliminated taxes on cryptocurrency transfers. What impact will this have?

ОАЭ отменили налоги на криптопереводы: какие последствия это может иметь?

The Federal Tax Authority (FTA) of the UAE on October 2 introduced significant amendments to the Executive Regulation of Federal Decree-Law No. 8 of 2017 regarding Value Added Tax (VAT). These changes will come into effect on November 15 and aim to clarify key VAT provisions.

Under the new rules in the UAE, companies dealing with virtual assets must carefully assess how the updates will impact their VAT obligations and input tax recovery positions. This is particularly important as some provisions are retroactive and pertain to transactions conducted since 2018.