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UAE Clarifies VAT Treatment for Cryptocurrency Mining
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UAE Clarifies VAT Treatment for Cryptocurrency Mining

The Federal Tax Authority (FTA) has clarified that cryptocurrency mining for personal accounts will not be subject to the UAE’s value-added tax (VAT). This announcement was made on Tuesday, addressing the growing interest in cryptocurrencies among residents. However, the FTA specified that if an individual mines cryptocurrency on behalf of someone else, this service will...

UAE Gold Shoppers Unaffected by New VAT Rules
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UAE Gold Shoppers Unaffected by New VAT Rules

Gold and jewellery shoppers in the UAE will not experience any additional costs due to the new VAT regulations issued by the Ministry of Finance last week. Customers will continue to pay the existing 5% VAT on their purchases, a rate that has been in effect since early 2018. This means that the recent changes...

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Gulf Nations Adapt Strategy to Attract Multinationals Amid Tax Changes

Gulf countries are rethinking their approach to attracting multinational companies as they prepare to adopt a global minimum corporate tax of 15 percent by January 2025. Historically known for their tax-free environment, these nations are now offering targeted incentives to stay competitive and lure investments. The UAE, which introduced a 9% corporate tax last year,...