President Sheikh Khalifa said the country's Founding Fathers laid down deep roots for the nation's growth. Photo: AFP
President Sheikh Khalifa said the country's Founding Fathers laid down deep roots for the nation's growth. Photo: AFP
President Sheikh Khalifa said the country's Founding Fathers laid down deep roots for the nation's growth. Photo: AFP
President Sheikh Khalifa said the country's Founding Fathers laid down deep roots for the nation's growth. Photo: AFP

Sheikh Khalifa outlines the UAE's vision to be among the world's greatest nations


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President Sheikh Khalifa has praised the UAE's remarkable rise as an "inspiring success story" to be shared with the world as the nation unites for joyous Golden Jubilee celebrations.

Sheikh Khalifa said the country's Founding Fathers laid down deep roots for the nation's growth, centred on a sustainable development plan, which will continue to guide its future prosperity.

He said investment in the talent of the UAE's population would remain at the heart of the country's progress as it gears up to become a leading global power in the 50 years to come.

The leader said firm foundations were in place to allow the UAE to thrive for decades to come and cement its place on the global stage.

We have come a long way in empowering women and youth, and developing a diversified economy
President Sheikh Khalifa

"In line with the ‘Principles of the 50th’, the UAE will continue to steadily pursue a solid ecosystem of well-established values and principles, with human capital lying at the heart of the UAE Strategy for the Future," he said in a statement to Nation Shield, the UAE Armed Forces' magazine.

"It’s this resilient set of legislation that’s enabled our nation to establish a coherent society with a knowledge-based, innovation-driven economy, a world-class healthcare system, an advanced education sector, an integrated modern infrastructure, environmental sustainability, and an enviable status in global competitiveness rankings."

Milestones

  • Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, and Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, meet the Hope Probe team, after its successful entry into the orbit of Mars, at Mohammed Bin Rashid Space Centre. Seen with Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, and Sheikh Mansour bin Zayed, Deputy Prime Minister and Minister of Presidential Affairs. Mohamed Al Hammadi / Ministry of Presidential Affairs
    Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, and Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, meet the Hope Probe team, after its successful entry into the orbit of Mars, at Mohammed Bin Rashid Space Centre. Seen with Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, and Sheikh Mansour bin Zayed, Deputy Prime Minister and Minister of Presidential Affairs. Mohamed Al Hammadi / Ministry of Presidential Affairs
  • Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, and Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, meet the Hope Probe team. Mohamed Al Hammadi / Ministry of Presidential Affairs
    Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, and Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, meet the Hope Probe team. Mohamed Al Hammadi / Ministry of Presidential Affairs
  • Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, and Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, at Mohammed Bin Rashid Space Centre. Also there are Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, and Sheikh Mansour bin Zayed, Deputy Prime Minister and Minister of Presidential Affairs. Rashid Al Mansoori / Ministry of Presidential Affairs
    Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, and Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, at Mohammed Bin Rashid Space Centre. Also there are Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, and Sheikh Mansour bin Zayed, Deputy Prime Minister and Minister of Presidential Affairs. Rashid Al Mansoori / Ministry of Presidential Affairs
  • Sheikh Saif bin Zayed, Deputy Prime Minister and Minister of Interior, Sheikh Mansour bin Zayed, Deputy Prime Minister and Minister of Presidential Affairs, and Mohammed Abdulla Al Gergawi, Minister of Cabinet Affairs, at Mohammed Bin Rashid Space Centre. Mohamed Al Hammadi / Ministry of Presidential Affairs
    Sheikh Saif bin Zayed, Deputy Prime Minister and Minister of Interior, Sheikh Mansour bin Zayed, Deputy Prime Minister and Minister of Presidential Affairs, and Mohammed Abdulla Al Gergawi, Minister of Cabinet Affairs, at Mohammed Bin Rashid Space Centre. Mohamed Al Hammadi / Ministry of Presidential Affairs
  • Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, and Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, meet the Hope Probe team, after its successful entry into the orbit of Mars, at Mohammed Bin Rashid Space Centre. Rashid Al Mansoori / Ministry of Presidential Affairs
    Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, and Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, meet the Hope Probe team, after its successful entry into the orbit of Mars, at Mohammed Bin Rashid Space Centre. Rashid Al Mansoori / Ministry of Presidential Affairs
  • Members of Mohammed Bin Rashid Space Centre participate during the arrival of the Hope Probe in the orbit of Mars. Mohamed Al Hammadi / Ministry of Presidential Affairs
    Members of Mohammed Bin Rashid Space Centre participate during the arrival of the Hope Probe in the orbit of Mars. Mohamed Al Hammadi / Ministry of Presidential Affairs
  • Member of Mohammed Bin Rashid Space Centre participates during the arrival of the Hope Probe in the orbit of Mars. Rashid Al Mansoori / Ministry of Presidential Affairs
    Member of Mohammed Bin Rashid Space Centre participates during the arrival of the Hope Probe in the orbit of Mars. Rashid Al Mansoori / Ministry of Presidential Affairs
  • Sheikh Mohammed bin Rashid, Vice-President and Ruler of Dubai, and Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, Sheikh Mansour bin Zayed, Deputy Prime Minister and Minister of Presidential Affairs, Sheikh Saif bin Zayed, Deputy Prime Minister and Minister of Interior, Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, Sheikh Hamdan bin Mohammed bin Zayed, Mohammed Al Gergawi, Minister of Cabinet Affairs, Talal Humaid Belhoul Al Falasi, Vice President of Mohammed bin Rashid Space Centre and Hamad Obaid Al Mansoori, Director-General of the Telecommunications Regulatory Authority, witness the arrival of the Hope Probe in the orbit of Mars, at Mohammed Bin Rashid Space Centre. Rashid Al Mansoori / Ministry of Presidential Affairs
    Sheikh Mohammed bin Rashid, Vice-President and Ruler of Dubai, and Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, Sheikh Mansour bin Zayed, Deputy Prime Minister and Minister of Presidential Affairs, Sheikh Saif bin Zayed, Deputy Prime Minister and Minister of Interior, Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, Sheikh Hamdan bin Mohammed bin Zayed, Mohammed Al Gergawi, Minister of Cabinet Affairs, Talal Humaid Belhoul Al Falasi, Vice President of Mohammed bin Rashid Space Centre and Hamad Obaid Al Mansoori, Director-General of the Telecommunications Regulatory Authority, witness the arrival of the Hope Probe in the orbit of Mars, at Mohammed Bin Rashid Space Centre. Rashid Al Mansoori / Ministry of Presidential Affairs
  • Mohammed Al Gergawi, Minister of Cabinet Affairs, Talal Humaid Belhoul Al Falasi, Vice President of Mohammed bin Rashid Space Centre, and Hamad Obaid Al Mansoori, Director-General of the Telecommunications Regulatory Authority, witness the arrival of the Hope Probe in the orbit of Mars, at Mohammed Bin Rashid Space Centre. Ismaeel Al Zaher / Ministry of Presidential Affairs
    Mohammed Al Gergawi, Minister of Cabinet Affairs, Talal Humaid Belhoul Al Falasi, Vice President of Mohammed bin Rashid Space Centre, and Hamad Obaid Al Mansoori, Director-General of the Telecommunications Regulatory Authority, witness the arrival of the Hope Probe in the orbit of Mars, at Mohammed Bin Rashid Space Centre. Ismaeel Al Zaher / Ministry of Presidential Affairs
  • Sheikh Hamdan bin Mohammed bin Zayed, witnesses the arrival of the Hope Probe in the orbit of Mars, at Mohammed Bin Rashid Space Centre. Rashid Al Mansoori / Ministry of Presidential Affairs
    Sheikh Hamdan bin Mohammed bin Zayed, witnesses the arrival of the Hope Probe in the orbit of Mars, at Mohammed Bin Rashid Space Centre. Rashid Al Mansoori / Ministry of Presidential Affairs
  • Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, Sheikh Mansour bin Zayed, Deputy Prime Minister and Minister of Presidential Affairs, Sheikh Saif bin Zayed, Deputy Prime Minister and Minister of Interior, and Sheikh Hamdan bin Mohammed bin Zayed, witness the arrival of the Hope Probe in the orbit of Mars, at Mohammed Bin Rashid Space Centre. Ismaeel Al Zaher / Ministry of Presidential Affairs
    Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, Sheikh Mansour bin Zayed, Deputy Prime Minister and Minister of Presidential Affairs, Sheikh Saif bin Zayed, Deputy Prime Minister and Minister of Interior, and Sheikh Hamdan bin Mohammed bin Zayed, witness the arrival of the Hope Probe in the orbit of Mars, at Mohammed Bin Rashid Space Centre. Ismaeel Al Zaher / Ministry of Presidential Affairs
  • Khaldoon Al Mubarak, chief executive and managing director of Mubadala Investment Company, and Sheikh Mohammed bin Hamad bin Tahnoon, witness the arrival of the Hope Probe in the orbit of Mars, at Mohammed Bin Rashid Space Centre. Ismaeel Al Zaher / Ministry of Presidential Affairs
    Khaldoon Al Mubarak, chief executive and managing director of Mubadala Investment Company, and Sheikh Mohammed bin Hamad bin Tahnoon, witness the arrival of the Hope Probe in the orbit of Mars, at Mohammed Bin Rashid Space Centre. Ismaeel Al Zaher / Ministry of Presidential Affairs

Sheikh Khalifa lauded the UAE's achievements since its formation, from putting the first Emirati into space to leading the charge for the empowerment of women.

"We have come a long way in empowering women and youth, and developing a diversified economy. Outer space welcomed our first Emirati astronaut and our Hope Probe in historic milestones that have made our nation the first in this sphere in the Arab region and the fifth worldwide.

"We launched the Arab region’s first multi-unit nuclear plant that turned the UAE into a regional hub for renewable and clean energy. We’ve adopted a national strategy to retain and attract talent in a way that further reinforces the UAE’s stature on the Gulf, Arab, Islamic and global levels. And under the theme 'Connecting Minds, Creating the Future', we're hosting Expo 2020 Dubai, the world’s greatest show’ for the first time in the region’s history."

Sheikh Khalifa reflected on the UAE's achievements while looking forward to a bright future.

"We have introduced to the world an inspiring development success story, which has rendered our country a leading regional and international financial centre, and a sought-after place to live, work, invest and travel," he said.

"In so doing, we have surpassed others in terms of well-being, service excellence, corporate governance, trade openness, quality of life and entrepreneurship.

"We have successfully weathered the repercussions of the Covid-19 pandemic and restored normalcy while observing full compliance with preventive measures in place.

"Thanks to this enviable track record of achievements, we're ushering in the next 50 years of our history with a comprehensive, long-term and well-thought-out strategic vision, based on meticulous pursuance of excellence to secure a brighter future for future generations, who, by the time they will be celebrating our Centennial 2071, will see their nation amongst the best in the world thanks to a sustainable and vibrant economy."

Pursuit of peace

Sheikh Khalifa said the UAE would work closely with its Middle East neighbours to bolster stability and security across the region and support diplomatic efforts around the world.

"Strengthening co-operation among GCC states at the political, economic, social and security levels will remain a top Emirati priority. Within this context, we will continue to stand by our fraternal GCC states in the face of all threats to their stability, unity, and territorial integrity.

"We reiterate that Gulf security is integrated and inseparable. Strengthening the pillars of stability in our region is a collective responsibility that requires intensifying strategic co-ordination among all the GCC states to achieve the aspirations of our peoples for a secure and prosperous future as has been the case during the past 50 years.

"Our diplomacy will remain active and vibrant, catalysing partnerships with major, emerging and developing nations to promote a culture of tolerance, controlling conflicts, confronting climate change, investing in Sustainable Development Goals, combatting hunger, disease and poverty, and providing humanitarian and development aid, which is an integral part of our country's glorious journey and its moral obligations."

Sheikh Khalifa spoke of his pride at the role played by Emiratis in all sections of society – from the Armed Forces defending the country to those working in government departments to drive progress.

"We are proud of our government teams who've succeeded across 50 years to translate the rules laid down by our Founding Fathers into tangible services and resilient infrastructures," he said.

"We take pride in our Armed Forces and their valiant commanders and soldiers, and our security and police services. They have been leaving no stone unturned to live up to their responsibility in protecting our homeland. We are proud of all UAE residents, and their vital contributions to development and nation building."

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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