UAE and Russia Conclude Negotiations on Double Taxation Avoidance Agreement

UAE, 20 January, 2025 : The United Arab Emirates, represented by the Ministry of Finance, has concluded the final round of negotiations with the Russian Federation on a Double Taxation Avoidance Agreement for income and capital. The discussions, held in Dubai, culminated in the initial signing of the draft agreement.

Led by H.E. Younis Haji Alkhoori, Under-Secretary of the Ministry of Finance, the UAE delegation included Shabana Aman Khan Begum, Executive Director of the Tax Policy Sector. The Russian delegation was headed by Alexey Sazanov, Deputy Minister of Finance.

The agreement aims to create a stable tax framework, eliminate double taxation, and foster a business-friendly environment. It seeks to attract investment, enhance trade flows, and strengthen economic relations between the two nations.

H.E. Alkhoori emphasized the agreement’s role in removing tax barriers and boosting investor confidence, stating, “This is a strategic step towards enhancing economic ties and providing a clear, stable legal framework that stimulates trade and investment.”

The initiative is expected to drive economic growth, facilitate technology exchange, and promote sustainable trade and financial cooperation between the UAE and Russia, further solidifying the UAE’s position as a global investment hub.