- UAE issued Cabinet Decision No. 100 on September 6, 2024
- Amended VAT Executive Regulation under Federal Decree-Law No. 8 of 2017
- Effective November 15, 2024
- Virtual assets like cryptocurrencies now classified as Exempt Supplies
- Includes ownership transfer, conversion, and management services
- Aligns with previous analysis of VAT Law
- Clarifies VAT treatment for crypto trading businesses
- Specific treatment of mining activities not yet clarified
Source: mailchi.mp
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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