Brazil’s Ministry of Finance has officially excluded the United Arab Emirates from its list of jurisdictions with preferential tax regimes. The move underscores the UAE’s dedication to maintaining high standards for tax transparency and global financial governance.
The progress stems from the official visit of Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, to Brazil in November of the previous year.
The ministry stated that the progress reinforces the groundwork for growing bilateral trade and investment.
Specialized technical teams from both nations collaborated to meet all necessary criteria for tax transparency and investment standards set by the Brazilian authorities. Mohamed Bin Hadi Al Hussaini, UAE Minister of State for Financial Affairs, affirmed that the removal demonstrates the nation’s dedication to international tax governance. He also noted that it paves the way for strengthening economic ties with Brazil by opening new investment opportunities.
In 2024, the UAE emerged as the top destination for Brazilian exports among Arab nations, with bilateral trade surpassing $4.3 billion. Brazil remains the UAE’s largest trading partner in South America, and both countries continue to explore all possible avenues to augment economic collaboration and maximize shared opportunities.
The decision is anticipated to foster expanded partnership across essential sectors such as infrastructure, agribusiness, and logistics. Additionally, it aligns with the UAE’s goal of enhancing its role as a leading global hub for investment and international trade.
The declaration represents a key development in UAE-Brazil relations, highlighting the joint commitment to promoting a strong economic partnership.
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