From negotiations to an agreement
The original article, published on 15 April 2021, described negotiations. The UAE Ministry of Finance's treaty register records signature on 31 May 2021 and entry into force on 29 December 2021. This corrected edition replaces the earlier prediction that signing would happen within weeks.
Separate agreements, separate questions
A double-taxation agreement deals with the allocation of taxing rights and relief within its provisions. The bilateral free-trade agreement signed in 2022 concerns trade rules and is a different instrument. Neither agreement establishes a guaranteed volume of trade or automatically exempts every payment from tax. The entry-into-force date must also be distinguished from provisions governing the tax periods to which particular rules apply.
Before a cross-border transaction
For a proposed investment or payment, identify the parties, tax residence, income category, documentation and applicable period, then check the treaty text and domestic law with an adviser qualified in the relevant jurisdictions. The previous article's trade-growth forecasts and time-sensitive flight information have been removed because they were not supported by the treaty register.