Israeli Prime Minister Naftali Bennett arrives in Washington late on Tuesday for the first foreign tour of his premiership, with Iran set to top the agenda in talks with US President Joe Biden.
The visit comes as the new Israeli administration attempts to mend ties with the Democratic leadership that were strained during the tenure of Israel's last prime minister, Benjamin Netanyahu.
Mr Bennett is expected to adopt a more conciliatory tone than his predecessor in Washington, while pressing the same foreign policy line of firm opposition to Tehran.
“We will deal with many fronts, especially the Iranian front, and especially the jump in the Iranian nuclear programme over the past two or three years. In particular, we will discuss the plan to block this programme,” the Israeli prime minister said, before his departure on Tuesday.
Since entering office in January, Mr Biden has sought to revive the nuclear accord which Iran signed with world powers in 2015.
The deal with Tehran all but collapsed in 2018 with the withdrawal of US during the presidency of Donald Trump. Efforts to resume talks have stalled in recent weeks following the election of hardline Iranian President Ebrahim Raisi.
Orna Mizrahi, a senior research fellow at Israel’s Institute for National Security Studies, said the Iranian issue would be “the centre of the visit”.
“The approach will be that we must have a dialogue with the Americans and not confront the administration. We have to reach a common agreement and understanding about how to deal with Iran,” said Ms Mizrahi, who previously advised the prime minister’s office on foreign policy.
Mr Bennett’s arrival in Washington follows his meeting earlier this month with CIA chief William Burns, who travelled to Jerusalem following an attack on an Israeli-managed tanker in the Gulf.
The two countries blamed Iran for the incident on July 29, in which two crew members were killed.
Security concerns closer to home will also be on the agenda in Washington, three months after Israel and Gaza rulers Hamas fought an 11-day war.
Violence around the Palestinian coastal enclave has increased over the past few days, with the Israeli military launching air strikes on Gaza following a rally at the border fence on Saturday.
Forty-one Palestinians and an Israeli sniper were wounded at the protest, according to officials.
The military said it struck Hamas targets again on Tuesday, after incendiary devices were flown over the fence from Gaza and sparked fires in Israel. Following the strikes, Hamas-backed activists in the strip launched another wave of flaming balloons.
The two leaders are expected to discuss Gaza and more broadly “efforts to advance peace, security, and prosperity for Israelis and Palestinians,” the White House said last week.
In recent months the US administration has resumed funding to the UN agency for Palestinian refugees, UNRWA, and is pushing to reopen its consulate for Palestinians in Jerusalem which was closed by Mr Trump.
The latter move is opposed by nationalist leader Mr Bennett, who came into office in June and is unlikely to make significant concessions regarding the Palestinians.
But both leaders will be keen to avoid public disagreements which could distract from more pressing issues.
Mr Bennett’s government is grappling with rising coronavirus cases, while in Washington the president is facing mounting criticism over the US withdrawal from Afghanistan.
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Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
About Takalam
Date started: early 2020
Founders: Khawla Hammad and Inas Abu Shashieh
Based: Abu Dhabi
Sector: HealthTech and wellness
Number of staff: 4
Funding to date: Bootstrapped
If you go...
Fly from Dubai or Abu Dhabi to Chiang Mai in Thailand, via Bangkok, before taking a five-hour bus ride across the Laos border to Huay Xai. The land border crossing at Huay Xai is a well-trodden route, meaning entry is swift, though travellers should be aware of visa requirements for both countries.
Flights from Dubai start at Dh4,000 return with Emirates, while Etihad flights from Abu Dhabi start at Dh2,000. Local buses can be booked in Chiang Mai from around Dh50
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Ms Yang's top tips for parents new to the UAE
- Join parent networks
- Look beyond school fees
- Keep an open mind
Milestones on the road to union
1970
October 26: Bahrain withdraws from a proposal to create a federation of nine with the seven Trucial States and Qatar.
December: Ahmed Al Suwaidi visits New York to discuss potential UN membership.
1971
March 1: Alex Douglas Hume, Conservative foreign secretary confirms that Britain will leave the Gulf and “strongly supports” the creation of a Union of Arab Emirates.
July 12: Historic meeting at which Sheikh Zayed and Sheikh Rashid make a binding agreement to create what will become the UAE.
July 18: It is announced that the UAE will be formed from six emirates, with a proposed constitution signed. RAK is not yet part of the agreement.
August 6: The fifth anniversary of Sheikh Zayed becoming Ruler of Abu Dhabi, with official celebrations deferred until later in the year.
August 15: Bahrain becomes independent.
September 3: Qatar becomes independent.
November 23-25: Meeting with Sheikh Zayed and Sheikh Rashid and senior British officials to fix December 2 as date of creation of the UAE.
November 29: At 5.30pm Iranian forces seize the Greater and Lesser Tunbs by force.
November 30: Despite a power sharing agreement, Tehran takes full control of Abu Musa.
November 31: UK officials visit all six participating Emirates to formally end the Trucial States treaties
December 2: 11am, Dubai. New Supreme Council formally elects Sheikh Zayed as President. Treaty of Friendship signed with the UK. 11.30am. Flag raising ceremony at Union House and Al Manhal Palace in Abu Dhabi witnessed by Sheikh Khalifa, then Crown Prince of Abu Dhabi.
December 6: Arab League formally admits the UAE. The first British Ambassador presents his credentials to Sheikh Zayed.
December 9: UAE joins the United Nations.
