UAE and Russia Finalize Double Taxation Avoidance Agreement

UAE, 24 January, 2025 :  The UAE, represented by the Ministry of Finance, has concluded the final round of negotiations for a Double Taxation Avoidance Agreement on income and capital with Russia. The discussions, held at the Ministry’s Dubai offices, culminated in the initial signing of the draft agreement.

Led by His Excellency Younis Haji Al Khoori, Undersecretary of the Ministry of Finance, and His Excellency Alexey Sazanov, Russia’s Deputy Minister of Finance, the agreement aims to eliminate tax barriers, prevent double taxation, and establish an investment-friendly tax framework to boost trade and economic cooperation.

“This agreement marks a strategic step toward strengthening economic ties between the UAE and Russia,” Al Khoori stated. “It provides a stable legal framework that fosters confidence, attracts investments, and facilitates trade.”

Double taxation avoidance agreements play a crucial role in enhancing cross-border investment, supporting economic growth, and addressing global tax challenges. This agreement further reinforces the UAE's commitment to creating a favorable investment environment and promoting sustainable trade relations.