UAE sets out how crypto payments must be converted to dirhams for VAT

The UAE’s Federal Tax Authority (FTA) has issued a new directive setting out how businesses must convert the value of digital currencies into UAE dirhams when filing their Value Added Tax (VAT) returns.Directive on Tax Transactions No. 3 of 2026 applies to any taxable person supplying a digital currency, or supplying goods or services where the consideration is received in digital currency.Under the directive, such businesses must convert the value of the digital currency into dirhams for disclo...

This story was originally reported by Khaleej Times. As an automated real-time news aggregator, NewsToolBar provides multi-perspective indexing and AI summarization while directing full readership directly to primary publisher sources.