Libya's interim PM Abdul Hamid Dbeibah enters race for presidency

Libya's interim prime minister Abdul Hamid Dbeibah on Sunday filed his papers for the presidential election next month, despite being technically barred from taking part.

Mr Dbeibah was chosen in February as Libya’s first premier of a unified government in about seven years, as part of long-running UN-backed efforts to end a bloody conflict between rival administrations in the east and west.

Video obtained by The National showed the prime minister filing his candidacy at the election commission office in Tripoli.

Mr Dbeibah is barred from running under Libya’s current election laws.

He promised he would not seek office in this year’s elections as a condition to taking on his caretaker role earlier this year.

In order to be eligible, he also would have needed to have suspended himself from government duties at least three months before the polling date.

His entry into a race that now features many of Libya's main players of the past decade of chaos adds to the turmoil over a vote that is due to take place within five weeks, but for which rules have not yet been agreed.

The elections are being organised under a law issued in September by Aguila Saleh, speaker of the eastern-based parliament. That set a first-round presidential vote for December 24 but delayed the parliamentary election to January or February.

Mr Dbeibah and some major political figures and groupings in western Libya have criticised the election law, saying it was passed improperly, and have called for both votes to be delayed until there is agreement on the rules.

The electoral commission and Libyan courts are likely to rule on the eligibility of candidates in the coming weeks.

Among the prominent presidential candidates are Mr Saleh; the eastern military commander Khalifa Haftar, who led fighting against a UN-recognised government in Tripoli; Saif Al Islam Qaddafi, a son of Muammar Qaddafi, the autocrat who ruled Libya for decades before being overthrown and killed in the 2011; Fathi Bashagha, a former interior minister; and former prime minister Ali Zeidan.

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

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