Dubai Draws a Line in the (Digital) Sand
The Big Picture: If you thought the desert heat was intense, wait until the tax heat hits crypto. The United Arab Emirates has unveiled its Crypto-Asset Reporting Framework (CARF), locking in September 20, 2025 as the launch date for mandatory reporting, Times of India reports. For more insights into evolving tax legislations, check out our Nigerian Tax Laws 2025 - Comprehensive Tax Reform Legislation.
The Details:
• CARF brings the UAE in line with OECD transparency standards, requiring exchanges, brokers, and even certain wallet providers to identify users and share transaction data.
• Businesses get a three-year runway: the first automatic exchange of information is slated for 2028.
• Regulators say the plan offers a “clear timeline from 2025 to 2028,” giving firms time to shore up compliance and, yes, hunt for legitimate tax savings.
Why It Matters: The reaction was swift. Tax advisers argue the framework cements the UAE’s reputation as a serious financial hub rather than a crypto Wild West. Meanwhile, investors juggling DeFi tokens and sand-in-your-toes vacations now face a paperwork reality check.
Around the Tax World
• Albania signs on to a 9% minimum tax. The Balkan nation became the 10th country to endorse a treaty aimed at taxing low-taxed intra-group payments, according to Law360.
• OECD tweaks its playbook. Fresh guidance on both the Common Reporting Standard and CARF clarifies self-certification rules and the treatment of crypto derivatives (CBIZ).
• Australia’s big end of town cleans up its act. Post-2016 scrutiny is paying off, but GST assurance gaps remain, RSM told Accounting Times.
• U.S. tax certainty as a growth model. Recent U.S. moves to lock in full expensing and R&D deductions offer a template for the EU, though digital-services friction lingers (Bloomberg Law).
Tax Stat of the Day
9% , the minimum tax rate baked into the new multilateral treaty Albania just signed, aimed at curbing profit-shifting (Law360).
Looking Ahead
All eyes are on the UAE’s regulators as they draft the nitty-gritty CARF rulebook over the next 12 months. The countdown to that first 2028 data exchange has officially begun. For insights into similar international efforts in digital taxation, readers might find our guide on the Nigeria Tax Act, 2025 particularly informative.
Prepared by MyTax - mytax.com.ng