The EU on Thursday put the onus on Britain to compromise on their new economic partnership or be ready for trade disruptions in less than 80 days.
The UK said it was "disappointed" with the bloc's stance.
British Prime Minister Boris Johnson will respond and set out his approach to the talks on Friday, his Brexit negotiator said.
Wearing face masks and keeping their distance amid a European surge in Covid-19 infections, the EU leaders meeting in Brussels gave more time for talks with Britain on a new trade pact before the year ends.
"We are concerned by the lack of progress and we call on the UK to make the necessary moves," European Council President Charles Michel said.
The bloc wanted an accord but not at any price, and it was ready for an abrupt split from 2021 as well, Mr Michel said.
Britain's Brexit negotiator, David Frost, tweeted that he was disappointed.
"Also surprised by the suggestion that to get an agreement, all future moves must come from UK," Mr Frost said.
Britain left the EU in January and during a transition period, they have been locked in complex negotiations to keep €1 trillion ($1.17tn) worth of annual trade free of tariffs or quotas from 2021.
Talks have narrowed gaps on issues from social welfare to transport, but a deal has so far been prevented by disagreement on fair competition, dispute resolution and fisheries, which is particularly important to France.
"In no case shall our fishermen be sacrificed for Brexit," said the French President, Emmanuel Macron.
"If the right terms can't be found at the end of these discussions, we're ready for a no-deal for our future relations."
With businesses and markets increasingly nervous as the deadline nears, EU leaders stressed the unity of the 27-nation bloc.
"We want a deal but obviously not at any price," said German Chancellor Angela Merkel.
"It has to be a fair agreement that serves the interests of both sides. This is worth every effort."
Ireland, the EU member most exposed to any no-deal Brexit, said a smooth transition between the world's sixth-largest economy and biggest trading bloc was even more essential given the economic havoc of the Covid-19 crisis.
"We still can get this resolved within the timeframe available to us," Irish Prime Minister Micheal Martin said.
The pandemic has thrust Europe into recession and many nations are tightening restrictions again to battle a second wave of infections as winter looms.
The coronavirus upset the meeting when the President of the European Commission, Ursula von der Leyen, left abruptly to go into precautionary isolation after one of her staff tested positive.
Given the economic malaise and global instability, it would be "crazy" if the two sides failed to agree on a deal, Dutch Prime Minister Mark Rutte said.
Many in financial markets expect a limited deal by early November, although after more weeks of drama.
The EU has warned it would not leave fishing rights to be settled last and stressed they must be part of a wider deal with issues such as energy ties, where London has a weaker hand.
The sides are also far apart on fair competition protection covering social, labour and environment standards, and state aid.
Britain wants to regulate its own corporate subsidies freely in the future, while the EU wants joint rules.
Otherwise, the bloc says Britain cannot have free access to its single market of 450 million consumers.
UAE currency: the story behind the money in your pockets
Read more about the coronavirus
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 currency: the story behind the money in your pockets
The Penguin
Starring: Colin Farrell, Cristin Milioti, Rhenzy Feliz
Creator: Lauren LeFranc
Rating: 4/5
FIGHT CARD
Bantamweight Hamza Bougamza (MAR) v Jalal Al Daaja (JOR)
Catchweight 67kg Mohamed El Mesbahi (MAR) v Fouad Mesdari (ALG)
Lighweight Abdullah Mohammed Ali (UAE) v Abdelhak Amhidra (MAR)
Catchweight 73kg Mostafa Ibrahim Radi (PAL) v Yazid Chouchane (ALG)
Middleweight Yousri Belgaroui (TUN) v Badreddine Diani (MAR)
Catchweight 78kg Rashed Dawood (UAE) v Adnan Bushashy (ALG)
Middleweight Sallaheddine Dekhissi (MAR) v Abdel Emam (EGY)
Catchweight 65kg Rachid Hazoume (MAR) v Yanis Ghemmouri (ALG)
Lighweight Mohammed Yahya (UAE) v Azouz Anwar (EGY)
Catchweight 79kg Omar Hussein (PAL) v Souhil Tahiri (ALG)
Middleweight Tarek Suleiman (SYR) v Laid Zerhouni (ALG)
TUESDAY'S ORDER OF PLAY
Centre Court
Starting at 2pm:
Malin Cilic (CRO) v Benoit Paire (FRA) [8]
Not before 4pm:
Dan Evans (GBR) v Fabio Fogini (ITA) [4]
Not before 7pm:
Pablo Carreno Busta (SPA) v Stefanos Tsitsipas (GRE) [2]
Roberto Bautista Agut (SPA) [5] v Jan-Lennard Struff (GER)
Court One
Starting at 2pm
Prajnesh Gunneswaran (IND) v Dennis Novak (AUT)
Joao Sousa (POR) v Filip Krajinovic (SRB)
Not before 5pm:
Rajeev Ram (USA) and Joe Salisbury (GBR) [1] v Marin Cilic v Novak Djokovic (SRB)
Nikoloz Basilashvili v Ricardas Berankis (LTU)
