⚡ Dubai: A Crypto-Friendly Tax Haven
posted 31 Jan 2024
The legal firm MANIMAMA has released a report analyzing cryptocurrency tax systems worldwide, including the EU, Switzerland, the UAE, and more. Notably, the UAE, particularly Dubai, emerges as one of the most favorable locations for crypto trading and earnings, as it imposes no capital gains or income tax.
In contrast, Bulgaria is a favorable destination for businesses, offering a reasonable 10% tax rate without profit size restrictions. Most other countries fall short in terms of tax benefits. This report has also gained attention from Alex Bornyakov, Ukraine's Deputy Minister of Digital Transformation, who has proposed incentives like tax reductions or exemptions to support the cryptocurrency industry during the current crisis.
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