The UN on Wednesday announced the launch of a $2 billion (Dh73.4bn) appeal to battle the global coronavirus outbreak.
Secretary General Antonio Guterres urged the international community to unite as he launched a Global Humanitarian Response Plan to combat the pandemic.
“This is a moment for the world to come together to save lives and fight a common threat," Mr Guterres said.
"The only war we should be waging is that against Covid-19. If such funding is diverted then consequences would be catastrophic."
He said Covid-19 was "menacing the whole of humanity and so the whole of humanity must fight back".
"Individual country responses are not going to be enough," Mr Guterres said.
Mark Lowcock, the UN's humanitarian chief, said the global appeal plan was an effort to address immediate humanitarian consequences of the epidemic across the world.
“It will consolidate existing Covid-19 appeal and be implemented by UN agencies," Mr Lowcock said.
"If properly funded it will help contain spread of virus and save lives."
The virus is spreading despite government efforts to curb it, killing more than 19,000 people, he said.
Mr Lowcock warned the consequences would be catastrophic if the virus spread across Syria.
The UN plan would allow its agencies to install hand-washing stations in camps and settlements, and launch public information campaigns on how people in vulnerable countries can protect themselves.
“We'll also be establishing air bridges and hubs for supplies across Africa, Asia and Latin America so that we can move humanitarian workers and supplies to where they are needed most,” Mr Lowcock said.
Henrietta Ford, executive director of the UN children’s agency, said children were the “hidden victims of the pandemic”.
Ms Ford said children would remain at risk if the public did not comply with health regulations.
"They are not able to go to school and remote learning is not an option to some households, especially in vulnerable areas," she said.
"There is also an enormous amount of violence, both sexual and physical, on the children."
Unicef is appealing for $651 million in support from the international community to suppress the disease, especially in “weaker countries.”
The agency wants 55 million masks and other health equipment to keep medics and patients safe around the world.
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Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
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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
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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
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10. Substance and CbC reporting focus
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Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
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