According to a recent update from the UAE Ministry of Finance, the income and capital tax treaty between Bermuda and the United Arab Emirates entered into force on 5 July 2019. The treaty, signed 12 February 2015, is the first of its kind between the two countries. Taxes Covered The treaty covers UAE income tax and corporate tax and any taxes imposed in Bermuda that are the same or substantially similar to the UAE taxes covered. Income from Hydrocarbons Article 3 (Income from Hydrocarbons) provides that the treaty will not affect the right of either one of the Contracting States...