MOSCOW, December 27. /TASS/. Russia and the United Arab Emirates are preparing a double tax convention, Russian Finance Minister Anton Siluanov told reporters.

"We have recently met counterparts from the [United] Arab Emirates. We agree that we will prepare and improve the double taxation agreement. These processes will continue," the minister said.

"We will work with our partners and endeavor to unify these agreements, so that there are no preferential regimes, no points of profit like with Cyprus, when money was withdrawn there and no taxes were paid. Our work targets non-creation of such profit centers abroad. We will work in this direction," Siluanov added.