UAE Removes VAT On Cryptocurrency Transfers And Conversions

Quick Summary:

The UAE has made a serious commitment to make it increasingly attractive as a global cryptocurrency hub by announcing a massive tax exemption.

Starting November 15, 2024, all transactions involved in cryptocurrency exchange and conversion will be exempted from Value Added Tax.

This move may create a new benchmark for other countries to follow in similar tax reforms.

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Article Details

Author / Journalist: Christian Encila

Category: Crypto

Markets: HungaryChinaIndia

Topics: VAT Crypto News Digital currency Bitcoin UAE Crpyto

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-07 @ 16:00:26 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: bitcoinist.com

Language: English

Article Length: 430 words

Reading Time: 3 minutes read

Sentences: 28 lines

Sentence Length: 16 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bitcoinist

News ID: 22926378

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About Bitcoinist

Main Topics: Crypto

Official Website: bitcoinist.com

Update Frequency: 13 posts per day

Year Established: 2014

Headquarters: Hungary

News Last Updated: 8 hours ago

Coverage Areas: Hungary

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #105

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