UAE signs tax transparency pact on crypto-asset reporting

Image: WAM

The UAE Ministry of Finance has signed a multilateral competent authority agreement on the automatic exchange of information under the Crypto-Asset Reporting Framework (CARF), reinforcing its commitment to global tax transparency.

The UAE announced in November last year its intention to implement the framework.

CARF implementation in the country is scheduled to go live in 2027, with the first exchanges of information expected in 2028.

The framework sets out a mechanism for the automatic exchange of tax-related information on crypto-asset activities, aimed at providing certainty and clarity to the sector while aligning with international transparency standards.

Public consultation on crypto-asset reporting

The ministry also invited stakeholders including advisory service providers, intermediaries, traders, custodians, and exchange platforms to participate in a public consultation on CARF implementation in the UAE.

The consultation, which opened on September 15, will remain open for eight weeks until November 8, 2025.

According to the ministry, the consultation is designed to inform clear and effective regulatory rules by incorporating expert and market feedback.