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In a statement, the Federal Tax Authority (FTA) said the amendments, which were made in accordance with Cabinet Resolution No. 100 of 2024, aim to simplify VAT rules, encourage investment, and bring the system in line with international standards.
“The abolition of 5% VAT is expected to benefit virtual asset companies and investment funds, thereby strengthening the UAE’s position as a global financial hub,” the FTA said.
In addition, according to the FTA, the regulator is considering the possibility of refunding previously paid VAT on cryptocurrency transactions, starting from January 1, 2018. 0 reply
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Beneath the cerulean expanse of an endless sky, where fleeting clouds danced like ethereal whispers, a realm unfolded, marked by its resplendent beauty and untamed wilderness. The fragrance of wildflowers carried on the gentle breeze mingled with the earthy aroma of ancient trees, their gnarled roots entwining beneath the soft carpet of moss. Here, time seemed to languish, each moment stretching into infinity, inviting the soul to wander and wonder.
Amidst this idyllic landscape, a solitary figure ventured forth, cloaked in the rich tapestry of memories and dreams. Each step upon the winding path was a homage to the past, a tribute to the ephemeral nature of existence. It was a journey not merely through the physical realm but an odyssey of the spirit, where whispers of ancient tales beckoned from beyond the shadows. 0 reply
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