The Russian Finance Ministry announced the completion of negotiations with the UAE and the initialing of a draft new agreement aimed at avoiding double taxation of income and capital, as well as preventing tax evasion.

On behalf of the Russian side, the document was signed by State Secretary and Deputy Finance Minister Alexei Sazanov, and on behalf of the UAE, by Younis Haji Al Khoori, Undersecretary of the Ministry of Finance

What is known about the new agreement:

• It will cover not only state-owned companies and structures, but also private businesses, as well as individuals;
• The reached conditions are satisfactory to both sides and are aimed at strengthening economic ties between Russia and the UAE.

The parties plan to sign the agreement in the near future and do everything possible to make it enter into force on January 1, 2026.

Earlier, Russia and the UAE signed a tax agreement in 2011, which dealt with income from investments.