UAE Stops Taxing Crypto Transactions

The United Arab Emirates has made a move that is expected to increase the demand and use of cryptos within the country.

 

Specifically, starting this week, any resident or business that wants to buy or sell products and services in cryptos will be exempt from VAT on the transaction.

 

This means that if someone chooses to pay for their supermarket or gas with cryptos, they will automatically earn a 5% discount, the same as the VAT in the country.

 

This is yet another move that shows states want to bring crypto companies into their own countries to reap the benefits of their growth.

 

Soon, other countries are expected to find similar ways to attract companies from the crypto space.

 

Even the USA but after the elections...

 

Our company, BCASH™, is a licensed Greek company by the Hellenic Capital Market Commission (exchange license) and manufactures/operates cryptocurrency ATMs throughout Greece. One of the locations is at Evosmos, Thessaloniki, Greece, while you can find all the locations where our ATMs are placed at https://bcash.eu/en/locations

 

Almost all of the spaces are private and autonomous with high-security standards. Most of the locations offer free wireless internet connection.

 

At BCASH™ ATMs, you can buy and sell cryptocurrencies at the best market rate, such as Bitcoin | Ethereum | USDT | Litecoin | Dash | XRP | XLM.

 

If you have any questions, you can contact our customer support service at +30 6987812000 & +30 6998499499 (Viber, Whatsapp, Telegram supported).