OREANDA-NEWS  Russia and the United Arab Emirates (UAE) signed on Monday an intergovernmental agreement on the elimination of double taxation with respect to taxes on income and capital and the prevention of tax avoidance and evasion, the Ministry of Finance of the Russian Federation reported.

"Today, on February 17, in Abu Dhabi, Russian Finance Minister Anton Siluanov and UAE Finance Minister Mohammed bin Hadi Al-Husseini held the first meeting of the Russian-Emirati financial dialogue at the level of finance ministers. At the end of the financial dialogue, the solemn signing of an intergovernmental agreement on the elimination of double taxation with respect to taxes on income and capital and the prevention of tax avoidance and evasion took place," the materials on the website of the Ministry of Finance say.

"The Finance Ministry teams have done extensive work to take into account the interests of both sides and create conditions for mutual attraction of investments and elimination of double taxation of legal entities and individuals. This will help stimulate trade, increase mutual investments, and create a favorable environment for businesses and citizens," Siluanov commented on the signing, as quoted in the materials.