Nuns from the Missionaries of Charity attend a special prayer to mark the 111th birth anniversary of Mother Teresa in Kolkata in August. AFP
Nuns from the Missionaries of Charity attend a special prayer to mark the 111th birth anniversary of Mother Teresa in Kolkata in August. AFP
Nuns from the Missionaries of Charity attend a special prayer to mark the 111th birth anniversary of Mother Teresa in Kolkata in August. AFP
Nuns from the Missionaries of Charity attend a special prayer to mark the 111th birth anniversary of Mother Teresa in Kolkata in August. AFP

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Mother Teresa's sisters are inspirational

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January 06, 2022

This is in reference to the report India blocks foreign funding for Mother Teresa's charity (December 27): I have had the opportunity to see the humanitarian work of Mother Teresa’s mission in a handful of countries.

In the northern Indian city of Chandigarh, the Home of Charity that I visited in 1986 provided refuge to more than 300 people. Many were tiny babies, just a few days old, abandoned by unwed mothers. There was a cradle outside the door. Any mother, who could not keep her baby, could leave the child in the cradle, ring the bell and depart. At the home, these babies were always dressed in pretty clothes.

There were also about 100 deformed children, whose parents either did not want them or could not afford to look after them. They had elongated faces, twisted noses, abnormal eyes, twisted arms or legs. The sisters at the mission nurtured and fed them. They also looked after the lepers and the blind. There were about 100-odd old people, who were alone, or whose families could not afford to care for them.

I also made visits to their missions in Sao Paulo, Brazil (1997), Dar es Salaam, Tanzania (between 1999 and 2002) and Abidjan, Ivory Coast (2003). Every one these homes, among the 760 spread across 139 countries, are managed by the sisters for no pay. Their astonishing commitment is an inspiration.

Rajendra Aneja, Mumbai

Market recovery is great news

This is in reference to Felicity Glover's article UAE salary guide 2022: how much should you be earning? (January 5): it's good to know that the market is recovering, and that companies have begun hiring. The past two years have been difficult for several sectors and many people have lost their jobs. Business confidence is essential for the market to attract investment and grow. So let's hope this is a virtuous cycle in the making, and that the new year brings new hope for everyone.

Ramachandran Nair, Muscat

Strong deterrence against rash driving is necessary

This is in reference to Taniya Dutta's article Indian bus driver jailed for 190 years over deaths of 19 passengers (January 2): while I believe the strictest punishment should be handed out for driving offences, especially if they have led to the deaths of children, imprisoning someone for 190 years seems a bit pointless. The convicted person is obviously not going to live that long. Besides, sentencing people on separate counts is also mystifying. Nevertheless, I hope this news deters drivers everywhere to take better care while on the road.

K Ragavan, Bengaluru

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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Updated: January 06, 2022, 3:00 AM