The outgoing Israeli prime minister, Ehud Olmert, has denied any wrongdoing.
The outgoing Israeli prime minister, Ehud Olmert, has denied any wrongdoing.
The outgoing Israeli prime minister, Ehud Olmert, has denied any wrongdoing.
The outgoing Israeli prime minister, Ehud Olmert, has denied any wrongdoing.

Olmert faces further corruption questions

The outgoing Israeli prime minister is questioned by police for the eighth time since May on corruption allegations.

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The Israeli prime minister, Ehud Olmert, was questioned by police today for the eighth time since May on corruption allegations that led him to resign from office last month. "The interrogation is being conducted at the official residence of the prime minister and should normally last two hours," police spokesman Micky Rosenfeld said. Mr Olmert tendered his resignation on September 21 in the wake of a series of corruption allegations concerning financial dealings when he served as Jerusalem mayor and trade minister before assuming the premiership in 2006.

He will continue to serve as interim prime minister until the foreign minister, Tzipi Livni, forms a new governing coalition or the country holds snap elections ? a period of political limbo that could last weeks or months. Police have recommended that the 63-year-old Mr Olmert should be indicted on criminal charges in cases where he is accused of illegally accepting large sums of cash from a US financier and multiple-billing foreign trips.

Mr Olmert has denied any wrongdoing. His resignation has dealt a major blow to already sluggish US-backed Israeli-Palestinian peace talks relaunched in November 2007, when the two sides vowed to try to reach a full peace deal by the end of 2008. If Ms Livni is unable to form a government in the coming weeks general elections would be held early next year, which polls indicate would give the right-wing Likud party the most seats in Israel's parliament. * AFP

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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