Cryptocurrency mining in the UAE for residents' personal accounts will not come under value-added tax (VAT), the Federal Tax Authority (FTA) said on Tuesday. However, mining cryptocurrency on behalf of another person, i.e. supplying computational power, is a taxable supply of services and is subject to five per cent... read full story
"Mining cryptocurrencies on a personal account is not subject to UAE's VAT Law. This is because the computational work performed by an individual's network cannot be linked to a fixed reward (i.e., cryptocurrency) or a specific recipient,"