• Simone Biles poses during the awards ceremony after winning the all-around division of the US Classic in Illinois. Reuters
    Simone Biles poses during the awards ceremony after winning the all-around division of the US Classic in Illinois. Reuters
  • Simone Biles competes in the floor exercise at NOW Arena in Chicago. USA TODAY Sports
    Simone Biles competes in the floor exercise at NOW Arena in Chicago. USA TODAY Sports
  • Simone Biles returned to competition after two years. USA TODAY Sports
    Simone Biles returned to competition after two years. USA TODAY Sports
  • Simone Biles performs on the balance beam during the US Classic in Chicago, Illinois. AFP
    Simone Biles performs on the balance beam during the US Classic in Chicago, Illinois. AFP
  • Simone Biles with coach Laurent Landi. Biles returned to competition after a two-year break after the Tokyo Olympics. EPA
    Simone Biles with coach Laurent Landi. Biles returned to competition after a two-year break after the Tokyo Olympics. EPA
  • Simone Biles performs a floor routine. USA TODAY Sports
    Simone Biles performs a floor routine. USA TODAY Sports
  • Simone Biles competes during the US Classic. USA TODAY Sports
    Simone Biles competes during the US Classic. USA TODAY Sports

Simone Biles wins 20th world title as US women seal team gold


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Simone Biles claimed her 20th world title as she continued her return from a two-year break to lead the US to a seventh straight women's team gold at the world gymnastics championships in Antwerp on Wednesday.

The USA extended their domination going back to 2011, in the absence of Russia, the last team to beat them in a major competition.

“It's crazy, we still pulled it out, I'm really proud of the team,” said Biles.

“It's the seventh title in a row for the United States. For some girls, it's their first World Championship, I'm excited to share that with them.”

The Americans scored 167.729 points to take gold ahead of Brazil (165.530), with Olympic hosts France winning bronze (164.064).

“She's the leader, having someone so inspiring and so encouraging … Team USA came together and we did what we needed to do tonight,” said Biles's teammate, Shilese Jones.

The team victory gives Biles her 26th world medal and a record-extending 20th world title.

And she could extend that tally as she is still in the running for five other podiums in Antwerp.

The Texan has made an impressive comeback, two years after the Tokyo Olympics.

Arriving in Japan as the big favourite thanks to her four gold medals won five years earlier in Rio de Janeiro, Biles broke down in full view of a global audience, withdrawing from four of the five finals.

She explained that she was fighting against the “twisties”, a temporary mental block whereby gymnasts lose their sense of where they are in the air, with the risk of injury when they land.

Despite a slight imbalance on the beam, Biles's overall performance, highlighted by scoring 15.166 on the floor, was again strong, like on Sunday during the qualifications.

Biles, Jones, Leanne Wong and Skye Blakely resisted a comeback from the Brazilians, who won the first team medal in their history.

The other member of the American team, Joscelyn Roberson, was injured in the vault warm-up and did not compete.

Reigning all-around world champion Rebeca Andrade impressed for Brazil, delivering a classy performance on the floor, scoring 14.666.

The surprise came from France who snatched bronze largely thanks to Melanie De Jesus Dos Santos, Biles's training partner in the US.

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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

Fanney Khan

Producer: T-Series, Anil Kapoor Productions, ROMP, Prerna Arora

Director: Atul Manjrekar

Cast: Anil Kapoor, Aishwarya Rai, Rajkummar Rao, Pihu Sand

Rating: 2/5 

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Updated: October 05, 2023, 12:52 AM