UAE Scraps VAT on Crypto Transfers, Paving the Way for Ripple and XRP Adoption
The UAE has introduced new VAT amendments that impact cryptocurrency transactions. The amendments are effective November 15, 2024, and have retroactive rules from 2018. On October 2, 2024, the United Arab Emirates Federal Tax Authority (FTA) introduced crucial amendments to its Value Added Tax (VAT) regulations, impacting businesses dealing with cryptocurrencies and other digital assets. …