Russian Finance Ministry proposes that Bahrain hold negotiations on new tax agreement

MOSCOW. Sept 18 (Interfax) - The Russian Finance Ministry, in response to a request from Bahrain to conclude an agreement on avoiding double taxation, has proposed holding two rounds of negotiations, Deputy Finance Minister Alexei Sazanov said.

Sazanov previously said that Bahrain had raised the issue of concluding a new agreement in June.

"We have proposed to our colleagues from Bahrain to hold two rounds of negotiations, we are waiting for their response," he told journalists.

Currently, Bahrain and Russia do not have an active tax agreement.

Sazanov also said that a meeting will be held in November with the UAE regarding its removal from the Finance Ministry's blacklist of offshore jurisdictions.

The ministry had planned to analyze the likelihood of remaining tax loopholes and make a decision on whether to remove the state from the blacklist of offshore jurisdictions in the autumn, after the ratification of the agreement with the UAE on avoiding double taxation.