UAE Signs Agreement Adopting Crypto-Asset Reporting Framework

The United Arab Emirates will join over 50 other countries in automatically exchanging tax-related information on crypto-asset activities.

The country’s Ministry of Finance announced Saturday it signed a Multilateral Competent Authority Agreement for the Crypto-Asset Reporting Framework.

• It also invited taxpayers to participate in a public consultation on potential impacts of the framework and areas requiring further clarification. That consultation opened Sept. 15, and comments are due Nov. 8.
• CARF will go into effect in 2027, the release said, and the first exchanges of information are expected in 2028. The government said it planned to implement the framework ...