4 days ago
Brazil officially removes UAE from list of jurisdictions with preferential tax regimes
Mohamed Bin Hadi Al Hussaini: The UAE applies global best practices and international standards in tax and financial policies
Abu Dhabi: The Ministry of Finance announced that the United Arab Emirates has been officially removed from the Federative Republic of Brazil's list of jurisdictions with preferential tax regimes, 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.
This achievement stems from the official visit of His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, to the Federative Republic of Brazil in November last year, and the constructive cooperation between Brazil's Ministry of Finance and the relevant UAE entities.
Dedicated technical teams from both sides worked closely to fulfil all requirements related to tax transparency and investment standards adopted by the Brazilian authorities. The announcement represents the culmination of a long-standing technical dialogue founded on strategic alignment and partnership.
New Horizons
His Excellency Mohamed Bin Hadi Al Hussaini, Minister of State for Financial Affairs, affirmed that removing the UAE from Brazil's list of jurisdictions with preferential tax regimes reflects the UAE's unwavering commitment to implementing best practices and international standards in its tax and financial frameworks. 'This step is a testament to the success of UAE diplomacy in building partnerships based on transparency and mutual trust,' he said.
H.E. added: 'We view this achievement as a launchpad for further strengthening economic cooperation with Brazil and unlocking new opportunities for mutual investment that serve both nations' ambitions for comprehensive and sustainable economic development. We will continue working to deepen bilateral ties and activate strategic initiatives that benefit the economies and people of both countries.'
Shared Opportunities
It is worth noting that the UAE is the leading destination for Brazilian exports among Arab countries, with bilateral trade exceeding USD 4.3 billion in 2024, making Brazil the UAE's largest trading partner in South America. Both sides remain committed to leveraging all avenues of cooperation and shared opportunities to enhance their economic ties.
The removal of the UAE from Brazil's list is expected to further accelerate bilateral cooperation, particularly in priority sectors such as trade and investment. This development supports sustainable development goals and strengthens the UAE's position as a global business hub.
This announcement marks a pivotal milestone in UAE-Brazil relations and reflects the two countries' shared vision of building a strong economic partnership grounded in tax transparency, governance, and support for initiatives that drive sustainable growth and shared prosperity.
