[UAE Signs Crypto Tax Reporting Agreement, International Information Exchange to Begin in 2028]
The UAE Ministry of Finance recently signed the Multilateral Competent Authority Agreement (MCAA) based on the Crypto-Asset Reporting Framework (CARF), aimed at enhancing tax transparency for crypto assets. According to the plan, the framework will be officially implemented in 2027, with the first international tax information exchange set to begin in 2028. Previously, the UAE had announced related plans in November 2024. Additionally, starting from September 15, the Ministry of Finance launched an eight-week public consultation, inviting stakeholders in the crypto industry to provide feedback on the potential impacts and compliance requirements of the agreement, ensuring the comprehensiveness and applicability of policy formulation.