Expansion of VAT Exemptions for Fund Management and Virtual Assets in UAE: Impact and Implications

• FTA has amended the Executive Regulations of the Federal Decree-Law No. 8 of 2017 on Value Added Tax
• Exemption under Financial Services now includes Fund Management Services and Virtual Assets
• Fund Management Services must be performed by a licensed fund manager for a fee
• Virtual Assets exemption includes transfer of ownership, conversion, and management
• VAT exemption not available if services are provided for consideration
• Impact of exemptions on Financial Services sector and Virtual Assets dealers
• Need for review of services and VAT deregistration for those impacted by the exemptions

Source: pkfuae.com

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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