Russian Finance Ministry to Remove UAE from Offshore List

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The Russian Ministry of Finance has prepared a draft order according to which, starting from January 1, 2026, the United Arab Emirates (UAE) will be excluded from the list of offshore jurisdictions. The document has been published on the official website of draft regulatory legal acts.

The explanatory note states that as of January 1, 2026, an agreement between Russia and the UAE aimed at eliminating double taxation on income and capital and preventing tax evasion will come into force. The agreement regulates the taxation of profits of residents of both countries and establishes tax rates of no more than 10% on income in the form of dividends, interest, and royalties.

It is also noted that the UAE have carried out a tax reform, introducing a uniform corporate tax rate of 9% for all organizations conducting business activities within the UAE territory, effective from January 1, 2024.