UAE signs agreement on automatic exchange of crypto tax data

PANews reported on September 22nd that, according to Cointelegraph, 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 Crypto-Asset Reporting Regime. CARF establishes a mechanism for the automatic exchange of crypto-asset tax information between participating jurisdictions, enhancing transparency and tax compliance in international cooperation. The UAE will launch the framework in 2027, with the first exchange of information in 2028. In preparation for implementation, the UAE held a public consultation with industry stakeholders from September 15th to November 8th. Furthermore, the UAE joins 50 jurisdictions, including New Zealand and Australia, that have also committed to adopting the framework.