UAE signs agreement on automatic exchange of crypto tax data

Odaily Planet Daily News: The UAE has taken a key step towards aligning its digital asset policies with international tax standards after signing the Multilateral Competent Authority Agreement on Automatic Exchange of Information under the Crypto-Asset Reporting Framework. The UAE Ministry of Finance announced the agreement on Saturday, formally committing to implementing the OECD's Global Digital Asset Reporting Regime. CARF establishes a mechanism to facilitate the automatic exchange of crypto-asset tax information between participating jurisdictions, strengthening transparency and tax compliance in international cooperation. The UAE will launch the framework in 2027, with the first exchange of information in 2028. To prepare for implementation, the UAE publicly solicited feedback from industry stakeholders from September 15 to November 8. Furthermore, the UAE joins 50 jurisdictions, including New Zealand and Australia, that have also committed to adopting the framework. ( Cointelegraph )