Virtual Currency Tax Avoidance in the United Arab Emirates

Virtual currencies are: One of the recent technological inventions resulting from the digital technological revolution in the fields of communications, information systems, and banking industry. There are more than 4,000 virtual currencies, the most famous of which is Bitcoin, which appeared in 2009 by an anonymous programmer (Satoshi Nakamoto) who adopted the idea of virtual currency to change the prevailing traditional currencies and replace them with a new currency that preserves the privacy of the seller and buyer and is not subject to supervision by banks or governmentsThe transactions are conducted via a peer-to-peer protocol (P2P) without a central server, Amid the challenges posed by the growing virtual currency market, it has become essential to explore legal frameworks to regulate this sector, not only to capitalize on its profits but also to establish a tax system for the revenues it generates. This humble study aimed to address this issue and examine the foundations of the tax treatment for virtual currency activitie