A functional working relationship with Iran is crucial to the future of stability in the Middle East, a senior UAE official has said.
Dr Anwar Gargash, diplomatic adviser to the UAE President, said the UAE was reaching out to all sides in the region in a bid to reduce tensions.
“We are reaching out to friends and also adversaries to build bridges,” he said in a panel session on the opening day of the World Government Summit, at Expo 2020 Dubai.
We are not going to agree with everything they [Iran] want to do. Our whole intention is to find a way to functionally work with Iran and ensure there is an agenda for stability
Dr Anwar Gargash,
Diplomatic Adviser to the UAE President
“We are not going to agree with everything they want to do. The Middle East is not only about Iran and Israel.
“Our whole intention is to find a way to functionally work with Iran and ensure there is an agenda for stability and prosperity in the region that includes Iran, and others.
“The other important element is that energy is coming back as a major component of Middle East issues.”
Earlier this month, Dr Gargash said the UAE would play an important role in dialogue to resolve crises in the Arab World, citing the recent visit of Syrian President Bashar Al Assad as an example of astute diplomacy.
Although relations with the Syrian government and the rest of the Arab world had been restored, no decision has been made on its involvement with the Arab summit scheduled for November in Algeria.
Ahmed Aboul Gheit, Secretary General of the League of Arab States, recently said the Syrian regime was unlikely to be readmitted due to a lack of consensus from other nations.
Dr Gargash said issues between democracy and authoritarianism were not binary, with the pandemic highlighting the pros and cons of good governance.
“Ultimately, you need something in the middle of both,” he said.
“Every democratic attempt in the Arab world has turned ideological or tribal, so I’m not sure it is something we can work out successfully.
“But we do need governance, and that needs a lot of components. This is perhaps in the middle of the two.”
At the same session titled “Are we ready for a new world order?", Frederick Kempe, president and chief executive of the Atlantic Council, said legitimacy in governments accepted by citizens was the most effective way to build societies.
People want freedom, human rights and governments to ensure order, safety and healthcare
Frederick Kempe,
President of the Atlantic Council
“The issue is having an effective government and whether people consider it legitimate,” he said. “Democracy is one way to achieve it, but there are other ways.
“Legitimacy is gained by governments that can deliver the goods and effectiveness to their people.
“People want freedom, human rights and governments to ensure order, safety and health care.
“This new era of technological change is getting fast all the time, and they can be used to enlighten and deliver better government services.”
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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Who has lived at The Bishops Avenue?
- George Sainsbury of the supermarket dynasty, sugar magnate William Park Lyle and actress Dame Gracie Fields were residents in the 1930s when the street was only known as ‘Millionaires’ Row’.
- Then came the international super rich, including the last king of Greece, Constantine II, the Sultan of Brunei and Indian steel magnate Lakshmi Mittal who was at one point ranked the third richest person in the world.
- Turkish tycoon Halis Torprak sold his mansion for £50m in 2008 after spending just two days there. The House of Saud sold 10 properties on the road in 2013 for almost £80m.
- Other residents have included Iraqi businessman Nemir Kirdar, singer Ariana Grande, holiday camp impresario Sir Billy Butlin, businessman Asil Nadir, Paul McCartney’s former wife Heather Mills.
Hunting park to luxury living
- Land was originally the Bishop of London's hunting park, hence the name
- The road was laid out in the mid 19th Century, meandering through woodland and farmland
- Its earliest houses at the turn of the 20th Century were substantial detached properties with extensive grounds
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The season ended with a dragon captured by the Night King blowing apart the huge wall of ice that separates the human world from its less appealing counterpart. Not that some of the humans in Westeros have been particularly appealing, either.
Anyway, the White Walkers are now free to cause any kind of havoc they wish, and as Liam Cunningham told us: “Westeros may be zombie land after the Night King has finished.” If the various human factions don’t put aside their differences in season 8, we could be looking at The Walking Dead: The Medieval Years.
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Malan 130 no, Morgan 91
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Southee 39, Parkinson 4-47
England win by 76 runs
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If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.
When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.
How to get there: Emirates currently flies from Dubai to Orlando five times a week.
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
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Ms Yang's top tips for parents new to the UAE
- Join parent networks
- Look beyond school fees
- Keep an open mind
