Representatives of the Finance Ministries of Russia and the UAE held negotiations in Dubai, where they committed to ensuring the elimination of double taxation agreement's implementation by 2026, the website of the Russian Ministry of Finance reports.
"The final round of negotiations between the delegations of the Russian and UAE finance ministries ended in Dubai, following which a draft of a new agreement on the avoidance of double taxation of income and capital and the prevention of tax evasion was initialed",
the Russian Finance Ministry said.
The parties have almost reached the point of signing the agreement, with the document's current version finalized yesterday by State Secretary - Deputy Finance Minister Alexey Sazanov and Deputy Finance Minister of the UAE Younis Haji Al Khoori, RIA Novosti reports with reference to the Ministry.
According to the Russian Finance Ministry, the agreement will strengthen economic and tax cooperation between Russia and the UAE and will stimulate trade and mutual investment. It will affect not only state-owned companies, but also private businesses and individuals.
