Russia and the UAE initialed a draft agreement on avoidance of double taxation

The final round of negotiations between the delegations of the Ministries of Finance of Russia and the United Arab Emirates (UAE) ended in Dubai, the parties initialed the draft of a new agreement on avoidance of double taxation of income and capital and prevention of tax evasion. This was reported by the press service of the Ministry of Finance of the Russian Federation on January 18.

"From the Russian side the document was initialed by State Secretary - Deputy Minister of Finance Alexei Sazanov, from the UAE side - Deputy Minister of Finance Younis Haji Al-Khouri. The new agreement will cover, in addition to state companies and structures, also private business and individuals," - specified the agency in Telegram-channel.

It is noted that this step will stimulate the growth of economic cooperation between the countries. Representatives of the Russian Federation and the UAE also indicated that they will make every effort to ensure that the agreement comes into force on January 1, 2026.

Russia and the UAE started working on the draft agreement back in 2023. On June 1 of the same year, Dubai introduced a federal corporate income tax of 9% for medium and large businesses.