🚀 Big news from the UAE! Starting Nov. 15, all crypto transactions will be exempt from paying value-added tax (VAT). This change, which applies retroactively to transactions since Jan. 1, 2018, aligns the virtual assets sector with traditional financial services.

- The Federal Tax Authority's update clarifies that the 5% VAT doesn't apply to digital assets.

- This move is seen as a significant step in legitimizing the crypto industry in the region.

What do you think about this development? Share your thoughts in the comments! 💬

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