MOSCOW: Russia and the United Arab Emirates have signed an agreement that excludes the possibility of double taxation on income and capital...
MOSCOW: Russia and the United Arab Emirates have signed an agreement that excludes the possibility of double taxation on income and capital, as well as fighting tax evasion, the Russian Finance Ministry reported on its website.
Russian Finance Minister Anton Siluanov and UAE Minister of State for Financial Affairs Mohamed Bin Hadi Al Hussaini held the first meeting of the Russian-Emirati Financial Dialogue at the level of finance ministers in Abu Dhabi on Monday.
"At the end of the dialogue, an intergovernmental agreement on the avoidance of double taxation with respect to taxes on income and capital and the prevention of tax evasion took place," the statement says.
The agreement will help the two countries stimulate trade, increase mutual investment, and create a favorable environment for businesses and citizens.
"The finance ministry teams have done extensive work to take into account the interests of both parties and create conditions for mutual investment attraction and avoidance of double taxation of legal entities and individuals," Siluanov said.
The parties also exchanged experience in implementing AI technologies in budget processes and discussed modern trends in the development of international tax cooperation.
The next meeting of the Russian-Emirati Financial Dialogue is scheduled to be held in Russia in 2026.
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