The United Arab Emirates has taken a major step forward in its tax transparency efforts, unveiling new international reporting frameworks that will bring digital assets and cryptocurrencies under global tax oversight by 2028.
The Ministry of Finance announced that the country will implement the Organization for Economic Co-operation and Development’s (OECD) updated Common Reporting Standard (CRS 2.0) and the new Crypto-Asset Reporting Framework (CARF) starting January 2027, a move that cements its role as a key player in international financial governance.
UAE Ministry of Finance Underscores Global Cooperation
In a statement on Monday, His Excellency Younis Haji Al Khoori, Undersecretary of the Ministry of Finance, said the policy marks “a significant step toward strengthening the UAE’s position as a trusted global financial hub rooted in transparency and accountability.”
He added, “By adopting the OECD’s latest standards, we are ensuring that our financial system remains competitive, compliant, and ready for the future. These measures reflect the UAE’s dedication to international cooperation and good governance.”
According to the Ministry, CRS 2.0 and CARF will modernize how financial data is exchanged between jurisdictions. The updated frameworks will cover previously unregulated assets such as e-money, stablecoins, and central bank digital currencies (CBDCs). Once implemented, the systems will enable automatic tax data sharing across borders to prevent evasion and promote fairness in global finance.
Digital Assets Now Under Reporting Obligations
Under the new UAE tax transparency framework, virtual asset service providers, crypto exchanges, and brokers will be required to report transactions involving non-resident taxpayers. Data collection will begin in 2027, and the first exchange of information between countries is expected in 2028.
H.E. Khalid Ali Al Bustani, Director-General of the Federal Tax Authority, said the frameworks reflect the UAE’s forward-looking financial strategy. “These measures are not just about compliance,” he explained. “They position the UAE as a leader in responsible digital finance. Transparency builds credibility, and credibility attracts sustainable investment.”
Rania Hassan, a financial analyst, said the initiative fills an important regulatory gap. “Including crypto assets in international reporting is a game-changer. It ensures that digital innovation does not outpace accountability,” she said.
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Strengthening Investor Confidence and Financial Reputation
By joining more than 100 jurisdictions that already share tax data automatically, the UAE reinforces its reputation as a transparent and cooperative financial environment. Analysts believe this advancement in UAE tax transparency will attract more international investors and strengthen the country’s compliance credentials.
The Ministry has advised banks, fintechs, and crypto providers to begin preparing early, with new technical guidelines expected in the coming months.
With CRS 2.0 and CARF, the UAE is laying the foundation for a new era of accountability in digital finance. Its approach demonstrates that innovation and transparency can coexist, ensuring that the country remains a trusted and competitive financial hub on the global stage.
