Police officers pass a fence outside a venue for archery at the upcoming Tokyo 2020 Olympic Games, in Tokyo on July 21. AFP
Police officers pass a fence outside a venue for archery at the upcoming Tokyo 2020 Olympic Games, in Tokyo on July 21. AFP
Police officers pass a fence outside a venue for archery at the upcoming Tokyo 2020 Olympic Games, in Tokyo on July 21. AFP
Police officers pass a fence outside a venue for archery at the upcoming Tokyo 2020 Olympic Games, in Tokyo on July 21. AFP

Opinion

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Olympics: the games must go on?

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Our readers have their say on the stories of the week

July 22, 2021

With reference to the report Head of Tokyo Olympics committee refuses to rule out cancelling games (July 21): plenty of people still think that the games should not happen. It's a matter of unnecessary risk and playing with people's lives.

Marlene Roets de Beer, Heidelberg, Germany

Animal cruelty cannot be tolerated

With regard to Gillian Duncan's article Stray cat shot with air gun in Abu Dhabi weeks after similar incident (July 20): I am speechless at how animal cruelty is so common everywhere in the world. Such vicious acts cannot be tolerated. We need cameras everywhere. The culprits should start paying for what they do to the helpless creatures.

Ornella Parigi, Brescia, Italy

These guns should be banned.

Christo Scerri, Abu Dhabi

Until those guilty of such monstrous acts don't get the punishment they deserve, this will never stop. Laws against animal abuse are already in place in the UAE. People who treat animals in this way will have to think twice.

Elize van Wyk, Dubai

Danish Siddiqui will live on through his pictures

With regard to Leila Gharagozlou's report Pulitzer Prize-winning photographer Danish Siddiqui killed in Afghan border fighting (July 16): this was very sad to read. Journalists have a risky job in reporting news from dangerous places. It was heartbreaking to read the details. He was covering the fighting in Afghanistan and himself became a victim. No monetary compensation given to his family can bring his life back. I pray for the soul of this brave photojournalist who has at work died, doing his duty till his last breath. Danish Siddiqui will live on through his incredible work.

K Ragavan, Bengaluru, India

Data on India's Covid-19 deaths

With regard to Taniya Dutta's article India just weeks from third wave after relaxing Covid-19 rules, experts say (June 21): a report by the Washington-based Centre for Global Development has said that India’s "excess deaths" during the Covid-19 pandemic could be as high as 4.9 million. The study is co-authored by Arvind Subramaniam, a former chief economic adviser to the government of India. India should consider a comprehensive audit of the Covid-19 mortalities in both urban and the rural areas. The audit should be undertaken by an independent, third party, like an accounting firm. This is important to resolve doubts about the actual figures.

Rajendra Aneja, Dubai

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Short-term let permits explained

Homeowners and tenants are allowed to list their properties for rental by registering through the Dubai Tourism website to obtain a permit.

Tenants also require a letter of no objection from their landlord before being allowed to list the property.

There is a cost of Dh1,590 before starting the process, with an additional licence fee of Dh300 per bedroom being rented in your home for the duration of the rental, which ranges from three months to a year.

Anyone hoping to list a property for rental must also provide a copy of their title deeds and Ejari, as well as their Emirates ID.

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

Updated: July 22, 2021, 5:54 AM