In boost for trade ties, UAE no longer on Brazil's tax haven list

UAE A LEADING DESTINATION FOR BRAZILIAN EXPORTS AMONG ARAB COUNTRIES

- BY ANUPAM VARMA

Brazil has officially removed the UAE from the list of jurisdictions with preferential tax regimes, the Ministry of Finance has said.

The move marks a significant step that reflects the UAE'S strong commitment to the highest standards of tax transparency and global financial governance. This development also underscores the depth and maturity of the economic and trade relations between the two countries.

Concerted efforts

This achievement stems from the official visit of Shaikh Khalid Bin Mohammad Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, to Brazil in November last year, and the constructive cooperation between Brazil's ministry of finance and the relevant UAE entities.