Construction of Hatta's hydroelectric power plant has crossed the halfway mark as authorities announced on Tuesday that the project was 52.6 per cent finished.
Dubai Electricity and Water Authority (Dewa) said the 72-metre main Roller Compacted Concrete (RCC) wall of the upper dam was complete, as well as the 37-metre-high RCC side wall at the project’s upper dam.
The station in Dubai will have a production capacity of 250 megawatts once finished and a storage capacity of up to 1,500 megawatt hours, plus a lifespan of up to 80 years.
The plant will be the first in the GCC region with investment in the project reaching Dh1.421 billion ($387m).
To function, water stored in the upper dam will flow through the underground tunnel, rotating turbines. The mechanical energy from the rotating turbines is then converted into electrical energy and sent to the Dewa power grid.
To reuse the water, clean energy generated by the Mohammed bin Rashid Al Maktoum Solar Park is used to pump it back through the tunnel and return it to the upper dam. This means the project is 100 per cent renewable.
The power plant's response time to heightened demand for energy will be fewer than 90 seconds.
Plans are in the works for Hatta to become a bucket-list destination and projects include a 5.4km cable car route — Dubai Mountain Peak — at an altitude of 1,300m (the summit of Jebel Umm Al Nisour), and Hatta Sustainable Waterfalls.
Up to 500 jobs have been created as a result of the projects.
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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
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Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed
Rating: 1/5
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Group A: Palmeiras, Porto, Al Ahly, Inter Miami.
Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.
Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.
Group D: Flamengo, ES Tunis, Chelsea, Leon.
Group E: River Plate, Urawa, Monterrey, Inter Milan.
Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.
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Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.
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Wed, Aug 29:
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Sat, Sep 1: UAE v Hong Kong; Oman v Singapore; Malaysia v Nepal
Sun, Sep 2: Hong Kong v Oman; Malaysia v UAE; Nepal v Singapore
Tue, Sep 4: Malaysia v Singapore; UAE v Oman; Nepal v Hong Kong
Thu, Sep 6: Final
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November 29 - Peter Searles (comedy / theatre)
December 5 - Sinatra’s Christmas Under The Stars (music / dinner show)
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Deccan Gladiators 87-8
Asif Khan 25, Dwayne Bravo 2-16
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