Dubai Enables Government Tax Payments with Bitcoin via Crypto.com
- Dubai residents can now pay government taxes and fees using Bitcoin and other digital assets.
- The Dubai Department of Finance partnered with Crypto.com to facilitate these payments.
- Payments are settled in UAE dirhams or Central Bank-approved dirham stablecoins, insulating government funds from crypto volatility.
- Crypto.com holds a Stored Value Facilities license from the Central Bank of the UAE, allowing it to convert digital assets to local currency.
- Dubai imposes a 0% personal capital gains tax on crypto disposals and no personal income tax, but applies a 9% corporate tax on revenues exceeding AED 375,000 and a 5% VAT on crypto transactions involving goods and services.
Dubai’s new policy allows residents to settle government dues using Bitcoin through Crypto.com, with payments converted to local currency. The emirate’s favorable tax regime continues attracting high-net-worth individuals.
Source (3.2)https://cryptobriefing.com/dubai-crypto-tax-payments-bitcoin/?rand=59535
