Live updates: Follow the latest news on Israel-Gaza
An Israeli strike on southern Lebanon on Monday killed a senior commander in Hezbollah's elite Radwan force.
Wissam Tawil, commonly known as Hajj Jawad, is the highest-level commander to be killed since cross-border clashes between Israel and Hezbollah began.
Hezbollah said in a statement that it mourned Mr Tawil "with great pride and honour".
A security source told Reuters the killing was a "very painful strike". Another security source warned that "things will flare up now".
But a Hezbollah source told The National that while he was "the first commander of his kind to be killed since the war in the south began", his death did not represent a major military loss for the group.
"The resistance is not a list of individuals that can be killed one by one. It’s a comprehensive movement," he said.
Mr Tawil was an adviser to Hezbollah on matters of "military strategy" in southern Lebanon, the source added.
Mr Tawil was from the southern Lebanese town of Khirbet Salam, where he was killed. The Hezbollah source said Mr Tawil's car was struck as he was driving through the town. No one was in the vehicle with him, the source added.
More than 150 Hezbollah fighters have been killed in Israeli strikes since cross-border clashes began after Hamas's attack on October 7.
Hezbollah was quick to act in support of its ally Hamas, which controls the Gaza Strip, by opening a front against Israel. Since October 8, Hezbollah and its allies have waged a cross-border conflict against Israel to deter its military from its assault on Gaza.
Other Iran-backed groups, including Yemen's Houthi rebels and Iraq's Kataib Hezbollah, have added to those efforts to force Israel out of Gaza.
The fighting along the Lebanon-Israel border has displaced tens of thousands, with neither Israeli or Lebanese able to return to their hometowns.
Hezbollah has repeatedly said it will continue operations along the border until a permanent ceasefire is declared. It has mostly launched its attacks against military installations and appears to be wary of the clashes developing into a full-fledged war.
Israel has intensified its strikes on Lebanon in an attempt to push Hezbollah away from the border, hitting deeper into Lebanese territory with greater regularity.
Last week, Hamas deputy Saleh Al Arouri was assassinated by what is thought to be an Israeli drone strike in Dahieh, a suburb of Beirut. Dahieh is also considered to be Hezbollah's seat of power and is where Mr Al Arouri was living.
Hezbollah leader Hassan Nasrallah previously warned that assassinations by Israel in Lebanon would “not be tolerated".
"We will not allow Lebanon to become a new field of assassinations for Israel,” he said.
Mr Tawil's killing comes as US Secretary of State Antony Blinken meets regional leaders on a tour of the Middle East. Mr Blinken has spoken of the need to contain the conflict in Gaza and avoid it from escalating into a wider regional war.
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
What is tokenisation?
Tokenisation refers to the issuance of a blockchain token, which represents a virtually tradable real, tangible asset. A tokenised asset is easily transferable, offers good liquidity, returns and is easily traded on the secondary markets.
