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. UAE introduces mandatory VAT supplier and supply verification checks Now, Dubai Duty Free customers can use cryptocurrency to complete purchases UAE e-invoicing: Firms above Dh50 million in revenue first to roll out from July.