<ul><li>The UAE has announced a massive tax exemption for cryptocurrency transactions, removing the Value Added Tax (VAT) on exchanges and conversions starting November 15, 2024.</li><li>This move aims to attract individual investors and institutional players seeking tax-friendly environments, positioning the UAE as a crypto-friendly jurisdiction.</li><li>The tax exemption is retroactive, allowing individuals and businesses to claim refunds on VAT paid on cryptocurrency transactions since January 1, 2018.</li><li>The exemption extends to investment fund management and virtual asset ownership transfers, boosting the UAE's digital economy and setting a precedent in the region.</li></ul>

UAE Removes VAT On Cryptocurrency Transfers And Conversions

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