The United Arab Emirates, through the Ministry of Finance, has successfully concluded the final round of negotiations for a Double Taxation Avoidance Agreement (DTAA) with the Russian Federation.
The agreement, signed in draft form during discussions held in Dubai, aims to eliminate double taxation on income and capital, fostering a more stable and investment-friendly tax environment.
The UAE delegation was led by Younis Haji Alkhoori, Under-Secretary of the Ministry of Finance, alongside Shabana Aman Khan Begum, Executive Director of the Tax Policy Sector. The Russian delegation was headed by Alexey Sazanov, Deputy Minister of Finance.
This agreement is a strategic step in strengthening economic ties between the UAE and Russia, eliminating tax barriers, and encouraging joint investments. It aims to provide a clear and stable legal framework that supports businesses and individuals while promoting seamless trade between the two nations.
Alkhoori emphasized that the agreement reflects the UAE's ongoing commitment to enhancing its business environment and providing legal certainty for international investors.
"By removing tax obstacles, this agreement will foster confidence and open new opportunities for economic growth, trade exchange, and cooperation in various sectors,"
he said.
Both nations anticipate that the DTAA will bolster foreign and domestic investments, facilitating long-term economic growth, and enabling the exchange of expertise and technologies. This collaboration signals a strengthening of trade and financial ties, further positioning the UAE as a preferred destination for global investors.
News Source: Emirates News Agency
