• An aerial view of the Great Barrier Reef off the coast of the Whitsunday Islands, along the central coast of Queensland. AFP
    An aerial view of the Great Barrier Reef off the coast of the Whitsunday Islands, along the central coast of Queensland. AFP
  • Islands and Protected Areas of the Gulf of California. © UNESCO
    Islands and Protected Areas of the Gulf of California. © UNESCO
  • Salonga National Park. © UNESCO
    Salonga National Park. © UNESCO
  • Lake Turkana is situatated in the Great Rift Valley in Kenya. It is the world's largest desert lake and the world's largest alkaline lake. Rocks in the surrounding area are predominantly volcanic. Getty Images
    Lake Turkana is situatated in the Great Rift Valley in Kenya. It is the world's largest desert lake and the world's largest alkaline lake. Rocks in the surrounding area are predominantly volcanic. Getty Images
  • Elephants stand in tall grass in the Garamba National Park in north-eastern Democratic Republic of Congo. AFP
    Elephants stand in tall grass in the Garamba National Park in north-eastern Democratic Republic of Congo. AFP
  • Mount Nimba Strict Nature Reserve. © UNESCO
    Mount Nimba Strict Nature Reserve. © UNESCO
  • Niokolo-Koba National Park. © UNESCO
    Niokolo-Koba National Park. © UNESCO
  • Dja Faunal Reserve in Cameroon. © UNESCO
    Dja Faunal Reserve in Cameroon. © UNESCO
  • Virunga National Park. © UNESCO
    Virunga National Park. © UNESCO
  • Zebras and Wildebeast graze in Selous Game Reserve, southern Tanzania. AFP
    Zebras and Wildebeast graze in Selous Game Reserve, southern Tanzania. AFP
  • Aïr and Ténéré Natural Reserves in Niger. Alamy
    Aïr and Ténéré Natural Reserves in Niger. Alamy
  • East Rennell (Solomon Islands). © UNESCO
    East Rennell (Solomon Islands). © UNESCO
  • Clouds are reflected in the Florida Everglade. AFP
    Clouds are reflected in the Florida Everglade. AFP
  • A male Grauer's gorilla, a critically endangered species, rests in the forest of Kahuzi-Biega National Park in northeastern Democratic Republic of Congo. AFP
    A male Grauer's gorilla, a critically endangered species, rests in the forest of Kahuzi-Biega National Park in northeastern Democratic Republic of Congo. AFP
  • Okapi Wildlife Reserve, Democratic Republic of Congo. Alamy
    Okapi Wildlife Reserve, Democratic Republic of Congo. Alamy
  • Aerial view of rainforest Leuser Mountain National Park which is one of the national parks listed in UNESCO as a World Heritage Site, the Tropical Rainforest Heritage of Sumatra in Aceh, Indonesia. Getty Images
    Aerial view of rainforest Leuser Mountain National Park which is one of the national parks listed in UNESCO as a World Heritage Site, the Tropical Rainforest Heritage of Sumatra in Aceh, Indonesia. Getty Images
  • Aerial view of the Rio Platano biosphere reserve in La Mosquitia region, Honduras. AFP
    Aerial view of the Rio Platano biosphere reserve in La Mosquitia region, Honduras. AFP

UN: Environmental threats are the biggest challenge to human rights


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  • Arabic

The UN rights chief on Monday said that the “triple planetary crises” of climate change, pollution and nature loss, represented the biggest threat to human rights globally.

“As these environmental threats intensify, they will constitute the single greatest challenge to human rights of our era,” said Michelle Bachelet at the opening of the human rights council, referring to recent “extreme and murderous” climate events such as floods in Germany and California's wildfires.

The International Monetary Fund is also urging countries to scale up green investments and set a higher global carbon pricing floor to reduce the adverse effects of climate change.

Green supply policies could result in a 2 per cent increase in the global gross domestic product this decade, creating “millions of jobs”, Kristalina Georgieva, the managing director of the IMF wrote in the bank's Finance and Development magazine's September issue.

“We must set the bar higher — indeed, our common future depends on it,” she added.

In related news, former Bank of England governor Mark Carney had said that governments must join hands in making climate-related financial disclosures mandatory and support, and there is a lot that still needs to be done to mitigate climate risks, despite the global financial industry increasingly demanding Task Force on Climate-Related Financial Disclosures reporting.

  • A house stands in the middle of an area devastated by a wildfire in Sierra Bermeja, Malaga, Spain. EPA
    A house stands in the middle of an area devastated by a wildfire in Sierra Bermeja, Malaga, Spain. EPA
  • The fire has burnt more than 6,000 hectares of forest in Estepona municipality. EPA
    The fire has burnt more than 6,000 hectares of forest in Estepona municipality. EPA
  • Authorities ordered more than 1,000 residents to leave the area due to the proximity of the flames to their homes. EPA
    Authorities ordered more than 1,000 residents to leave the area due to the proximity of the flames to their homes. EPA
  • The blaze in a mountain range of the province of Malaga broke out late on Wednesday. Reuters
    The blaze in a mountain range of the province of Malaga broke out late on Wednesday. Reuters
  • Clouds of smoke from the wildfire rise above Sierra Bermeja mountain. Reuters
    Clouds of smoke from the wildfire rise above Sierra Bermeja mountain. Reuters
  • A car passes by an area burnt by the wildfire. EPA
    A car passes by an area burnt by the wildfire. EPA
  • Hundreds of firefighters were working to extinguish the fire on the ground. AFP
    Hundreds of firefighters were working to extinguish the fire on the ground. AFP
  • A firefighting helicopter flies over the blaze. AFP
    A firefighting helicopter flies over the blaze. AFP
  • Smoke from the wildfire also led to the temporary closure of part of a major motorway in the region. AFP
    Smoke from the wildfire also led to the temporary closure of part of a major motorway in the region. AFP
  • The wildfire burns near homes in Estepona. EPA
    The wildfire burns near homes in Estepona. EPA
  • A recreation area devastated by the fire. EPA
    A recreation area devastated by the fire. EPA
  • A firefighter battling the blaze. AP
    A firefighter battling the blaze. AP
  • Authorities said the area's rugged terrain made extinguishing the flames difficult. AP
    Authorities said the area's rugged terrain made extinguishing the flames difficult. AP

Last week, a study published in Frontiers in Water said that unabated climate change will cause more extreme summer droughts in European hot spots by the end of the century, highlighting the problem of loss of natural resources,

The report named France, the Alps, the Mediterranean and the Iberian Peninsula as areas of particular concern, where there could be a more than 50 per cent increase in the frequency of extreme summer droughts.

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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UPI facts

More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions

 

 

Lexus LX700h specs

Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor

Power: 464hp at 5,200rpm

Torque: 790Nm from 2,000-3,600rpm

Transmission: 10-speed auto

Fuel consumption: 11.7L/100km

On sale: Now

Price: From Dh590,000

Updated: September 13, 2021, 10:04 AM