UAE Commits to Automatic Crypto Asset Tax Reporting with 2027 Rollout

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The United Arab Emirates has signed the Multilateral Competent Authority Agreement under the Crypto-Asset Reporting Framework (CARF), signalling that it will automatically report crypto-asset tax information with international authorities.

The UAE Ministry of Finance stated: 

CARF implementation in the UAE is scheduled to go-live in 2027, with the first exchanges of information expected in 2028. The framework establishes a mechanism for the automatic exchange of tax-related information on crypto-asset activities, ensuring that the UAE provides certainty and clarity to the crypto-asset sector while upholding the principles of global tax transparency.

The Ministry of Finance has also announced an eight-week industry consultation, which will be open until November 8. Stakeholders in the crypto sector are invited to “share their views and recommendations” on the agreement to ensure clarity and efficacy. 

Decrypt quotes industry experts as welcoming the announcement. Nitesh Mishra, co-founder and CTO of ChaiDEX, for example, said the agreement “brings greater legal clarity and certainty to crypto activities in the UAE, making the environment safer for compliant investors… It aligns the UAE with global tax transparency standards, boosting trust with regulators and international partners.” 

Previously, in 2024, the UAE had exempted crypto transactions from value-added tax.