08 Dec 2011
(MENAFN) UAE’s Finance Minsiter Obaid Humaid Al Tayer said that his country reached an agreement with Russia to exempt the Gulf state’s wealth funds and firms from taxation, Reuters reported.
He also said that the agreement between the two nations also supports trade and economic ties by addressing outstanding investment disputes and providing for the confidential transfer of data.
Before the agreement, UAE investors in Russia had to pay a 20 percent tax on stock profits, 15 percent on profits from interest, and 20 percent on capital gains.
Russia is seeking to lure investors partly because of heavy capital leakage pushed by instability in the global economy and domestic political unrest.
The Russian finance ministry recently expected capital outflow to hit USD85 billion, up from USD38.3 billion last year.
It is worth mentioning that UAE is home to Abu Dhabi Investment Authority (ADIA), ranked among the world’s largest sovereign wealth funds, with assets estimated at between USD400 billion and USD600 billion.
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
26 Jan 2026
BBK Enhances Autumn Fair 2026 Experience with Customized Rewards and Premium Services
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more