UAE to implement updated CRS 2.0 for global tax transparency

November 08, 2025 / 11:35 PM

Sharjah 24 – WAM: As part of its commitment to enhancing international tax transparency, the Ministry of Finance (MoF) announced the UAE’s commitment to implement the amendments to the Common Reporting Standard (CRS 2.0) issued by the Organisation for Economic Co-operation and Development (OECD) under the Automatic Exchange of Information (AEOI). The implementation will take effect on 1 January 2027, with the first exchange of information under CRS 2.0 scheduled for 2028.

Advancing global competitiveness and financial transparency

This initiative reflects the UAE’s advanced position in various global competitiveness indicators and highlights the excellence of its financial system in terms of transparency. It demonstrates the UAE’s adoption of the highest standards of governance and supports the country’s ability to attract foreign investments by aligning the CRS 2.0 implementation timeline with tax reporting requirements under the Crypto Asset Reporting Framework (CARF).

Expanded scope under CRS 2.0

The updated CRS 2.0 builds on the framework established under Federal Decree No. (48) of 2018 and Cabinet Resolution No. (93) of 2021. Key expansions include: Inclusion of electronic money and digital currencies of central banks, and reporting requirements for certain crypto asset activities.

Additional auditing and reporting measures

These updates ensure that the growth of the digital asset sector and financial innovation does not compromise global tax transparency.

Strengthening international cooperation

CRS 2.0 and CARF mark a significant milestone in the UAE's commitment to international standards of tax transparency. The frameworks expand cooperation with international organisations such as the OECD and the global financial community, reinforcing the UAE’s status as a leading financial hub based on good governance and international compliance.