Sheikh Abdullah bin Zayed meets Russia's Sergey Lavrov in New York

Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs and International Co-operation, has met his Russian counterpart Sergey Lavrov.

On the sidelines of the 77th session of the UN General Assembly, in New York, the ministers spoke about the partnership between the two countries.

Sheikh Abdullah emphasised the UAE's commitment to finding a peaceful solution to the conflict between Russia and Ukraine.

The officials also discussed issues of common concern, such as energy and food markets and the importance of stability in these areas for the global economy.

Sheikh Abdullah said the two nations' partnership had led to many achievements around the sustainable growth of their economies.

The meeting was also attended by Reem Al Hashimy, Minister of State for International Co-operation, Ahmed Al Sayegh, Minister of State, and Ambassador Lana Nusseibeh, Assistant Minister for Political Affairs and Permanent Representative of the UAE to the UN.

Celebrities at the UN General Assembly 2022: in pictures

Priyanka Chopra speaks at the United Nations General Assembly. Photo: Instagram / priyankachopra
Chopra was at the event as part of her role as Unicef Goodwill Ambassador. Photo: Instagram / priyankachopra
Amanda Gorman recites a poem during an event called SDG Moment at the UN headquarters. AP
The SDG Moment at UN General Assembly is meant to highlight the urgency and importance of the UN's Sustainable Development Goals. AP
2014 Nobel Peace Prize laureate Malala Yousafzai addresses the UN's Transforming Education Summit. EPA
K-pop group Blackpink also called for action against climate change ahead of the UN General Assembly. The comments marked a year since the group became advocates for the UN's Sustainable Development Goals — the first Asian act to earn the title — for the Cop26 climate conference in 2021. AP

Rocketman

Director: Dexter Fletcher

Starring: Taron Egerton, Richard Madden, Jamie Bell

Rating: 3 out of 5 stars

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Electric scooters: some rules to remember

Riders must be 14-years-old or over
Wear a protective helmet
Park the electric scooter in designated parking lots (if any)
Do not leave electric scooter in locations that obstruct traffic or pedestrians
Solo riders only, no passengers allowed
Do not drive outside designated lanes

UAE SQUAD

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While you're here

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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

UAE Premiership

Results

Dubai Exiles 24-28 Jebel Ali Dragons
Abu Dhabi Harlequins 43-27 Dubai Hurricanes

Final
Abu Dhabi Harlequins v Jebel Ali Dragons, Friday, March 29, 5pm at The Sevens, Dubai

FIGHT%20CARD

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