The breakthroughs achieved by science in developing highly effective vaccines against Covid-19 are nothing short of extraordinary. What once took up to a decade has been done in less than a year. This is primarily a result of remarkable international co-operation.
Yet the impact of those achievements will be dangerously undermined unless the whole world has access to Covid-19 vaccines. Together, we must absolutely ensure that a two-tier system does not develop between those who have access to vaccines, and those who do not.
That is why Covax, the first-of-its-kind multilateral initiative to distribute vaccines around the world, including for those most in need and least able to pay, is so critical. Set up by some of the world’s leading health bodies – including Gavi, the Vaccine Alliance, the World Health Organisation and the Coalition for Epidemic Preparedness Innovations – Covax is the largest vaccination programme in history and is on track to ensure that all people, regardless of income or where they live, have access to safe, effective Covid-19 vaccines.
Ultimately, global protection against the disease will depend on its success.
Last week, Covax reached a major milestone – with more than 38 million doses distributed to over 100 countries and counting. The fact this has been achieved in just over a month is testament to the vital approach of international partnership and unity behind this mission.
But there is no intention of stopping at 100 countries. The WHO and global leaders have stressed the stark lesson from the Covid-19 pandemic: that ‘nobody is safe until everyone is safe’. And they are absolutely right. AstraZeneca and its partners within Covax will not rest until all communities and economies are protected from the disease and able to stand up strong again.
In striving to ensure that deliveries are equitable, Covax is supplying six continents globally – Africa, Asia, Australia/Oceania, Europe, North America and South America. For many, especially in the developing world, these deliveries are the first shipments of vaccine since the pandemic response began, making Covax a critical lifeline in combating a disease that has inflicted untold human suffering and decimated economies. In the coming weeks and months, vaccine deliveries will continue to take place.
The Covid-19 vaccine supplied by AstraZeneca has been received by all participating countries across the Middle East
The rollout is moving at unprecedented pace, with the goal of distributing two billion Covax doses by the end of the year. This will be enough to protect the most vulnerable populations and high-risk groups, including front line health workers. The AstraZeneca vaccine, which represents the vast majority of the supply of Covax doses in the first half of this year, is being supplied at no profit during the pandemic, irrespective of a nation’s income level: a move hopefully other manufacturers will follow. With a programme of this scale and ambition, it will not always be smooth – developing and manufacturing vaccines is a complex, biological operation and the logistics involved in supplying dozens of countries around the same time are extensive. But all Covax partners are committed to working together to deliver on its shared objective.
Just weeks after the first vaccine doses started to arrive across the world through Covax, the Covid-19 vaccine supplied by AstraZeneca has been received by all participating countries across the Middle East.
Fifteen months since it began, the pandemic has taught us many things, including that Covid-19 is indiscriminate of age, sex or geography. Whether you are rich or poor, it can strike. We must not forget that over 2.9 million people worldwide have died from Covid-19. But the pandemic has also taught us that when the world works together it can achieve remarkable things in record-breaking time.
There is no doubt that vaccinating populations across the planet represents the biggest public health programme in history. Nothing on this scale has ever been attempted before. But it will only achieve its goal – one world protected – if doses are delivered promptly and vaccination campaigns are efficiently carried out on the ground.
That is why intense collaboration is required every step of the way: from developers and manufacturers, to co-ordinating authorities, governments and donors, to logistics providers shipping supply across borders in record time, and dedicated healthcare workers who are tirelessly administering vaccines.
It is collaboration that has got us this far and it is collaboration that will ensure all of humanity – not just those that can afford it – is ultimately protected. If Covid-19 has reminded us of our collective vulnerability, it has also shown that when we unite, we are so much stronger.
With a virus that knows no boundaries, Covax is an opportunity for the world to show that it can look and act beyond boundaries too, and throw a protective blanket over as many people as possible. A virus-free future depends on us all working together.
Leon Wang is executive vice president, International, AstraZeneca, andAurelia Nguyen is managing director, Covax Facility, hosted by Gavi, the Vaccine Alliance
THE BIO:
Sabri Razouk, 74
Athlete and fitness trainer
Married, father of six
Favourite exercise: Bench press
Must-eat weekly meal: Steak with beans, carrots, broccoli, crust and corn
Power drink: A glass of yoghurt
Role model: Any good man
F1 The Movie
Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem
Director: Joseph Kosinski
Rating: 4/5
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
The alternatives
• Founded in 2014, Telr is a payment aggregator and gateway with an office in Silicon Oasis. It’s e-commerce entry plan costs Dh349 monthly (plus VAT). QR codes direct customers to an online payment page and merchants can generate payments through messaging apps.
• Business Bay’s Pallapay claims 40,000-plus active merchants who can invoice customers and receive payment by card. Fees range from 1.99 per cent plus Dh1 per transaction depending on payment method and location, such as online or via UAE mobile.
• Tap started in May 2013 in Kuwait, allowing Middle East businesses to bill, accept, receive and make payments online “easier, faster and smoother” via goSell and goCollect. It supports more than 10,000 merchants. Monthly fees range from US$65-100, plus card charges of 2.75-3.75 per cent and Dh1.2 per sale.
• 2checkout’s “all-in-one payment gateway and merchant account” accepts payments in 200-plus markets for 2.4-3.9 per cent, plus a Dh1.2-Dh1.8 currency conversion charge. The US provider processes online shop and mobile transactions and has 17,000-plus active digital commerce users.
• PayPal is probably the best-known online goods payment method - usually used for eBay purchases - but can be used to receive funds, providing everyone’s signed up. Costs from 2.9 per cent plus Dh1.2 per transaction.
Our Time Has Come
Alyssa Ayres, Oxford University Press
Company profile
Company: Rent Your Wardrobe
Date started: May 2021
Founder: Mamta Arora
Based: Dubai
Sector: Clothes rental subscription
Stage: Bootstrapped, self-funded
Who was Alfred Nobel?
The Nobel Prize was created by wealthy Swedish chemist and entrepreneur Alfred Nobel.
- In his will he dictated that the bulk of his estate should be used to fund "prizes to those who, during the preceding year, have conferred the greatest benefit to humankind".
- Nobel is best known as the inventor of dynamite, but also wrote poetry and drama and could speak Russian, French, English and German by the age of 17. The five original prize categories reflect the interests closest to his heart.
- Nobel died in 1896 but it took until 1901, following a legal battle over his will, before the first prizes were awarded.
