• Hindu devotees take part in a traditional gathering to celebrate Holi, the spring festival of colours, at a temple in the Barsana village of India’s Uttar Pradesh state. AFP
    Hindu devotees take part in a traditional gathering to celebrate Holi, the spring festival of colours, at a temple in the Barsana village of India’s Uttar Pradesh state. AFP
  • The moon rises above a building covered in hieroglyphics outside Wafi mall in Dubai. Chris Whiteoak/The National
    The moon rises above a building covered in hieroglyphics outside Wafi mall in Dubai. Chris Whiteoak/The National
  • Waterfalls tumble over the surface of Uluru in the Northern Territory, Australia. Reuters
    Waterfalls tumble over the surface of Uluru in the Northern Territory, Australia. Reuters
  • An aerial view of traffic in Dubai. Chris Whiteoak / The National
    An aerial view of traffic in Dubai. Chris Whiteoak / The National
  • Alexa Knierim and Brandon Frazier of the USA practise during a training session prior to the 2021 ISU World Figure Skating Championships at the Stockholm Globe Arena in Stockholm, Sweden. The event is scheduled to be held from March 24 to March 28, 2021. AFP
    Alexa Knierim and Brandon Frazier of the USA practise during a training session prior to the 2021 ISU World Figure Skating Championships at the Stockholm Globe Arena in Stockholm, Sweden. The event is scheduled to be held from March 24 to March 28, 2021. AFP
  • A Palestinian man bathes his camel in the sea during a dust storm in Gaza City. AFP
    A Palestinian man bathes his camel in the sea during a dust storm in Gaza City. AFP
  • German Flores, founder of Burrolandia-Donkeyland embraces a donkey at the sanctuary dedicated to the protection of donkeys saved from mistreatment and abandonment in Otumba, Mexico. Reuters
    German Flores, founder of Burrolandia-Donkeyland embraces a donkey at the sanctuary dedicated to the protection of donkeys saved from mistreatment and abandonment in Otumba, Mexico. Reuters
  • Fiammetta, 10, attends online lessons surrounded by her shepherd father's herd of goats in the mountains, while schools are closed due to Covid restrictions, in Caldes, northern Italy. Reuters
    Fiammetta, 10, attends online lessons surrounded by her shepherd father's herd of goats in the mountains, while schools are closed due to Covid restrictions, in Caldes, northern Italy. Reuters
  • A mahout walks next to his elephant through a busy street in Horana, a suburb of Sri Lanka's capital Colombo. AFP
    A mahout walks next to his elephant through a busy street in Horana, a suburb of Sri Lanka's capital Colombo. AFP
  • French national cycling team members train on a track as patients are vaccinated with the Moderna shot at the velodrome national used as a Covid-19 vaccination centre in Saint-Quentin-en-Yvelines, southwest of Paris. AFP
    French national cycling team members train on a track as patients are vaccinated with the Moderna shot at the velodrome national used as a Covid-19 vaccination centre in Saint-Quentin-en-Yvelines, southwest of Paris. AFP
  • A man shields himself from women, who playfully beat him with bamboo sticks during Lathmar Holi celebrations, in the town of Barsana, Uttar Pradesh, India. Reuters
    A man shields himself from women, who playfully beat him with bamboo sticks during Lathmar Holi celebrations, in the town of Barsana, Uttar Pradesh, India. Reuters
  • Supporters of Congo's re-elected President Denis Sassou Nguesso gather to celebrate the election results outside the headquarters of the ruling Congolese Labour Party in Brazzaville. Nicknamed the "Emperor" by some peers, the veteran leader won on March 23 another five-year term that will see him steering his country for over four decades. Sassou Nguesso, 77, has already accumulated more than 36 years in office. AFP
    Supporters of Congo's re-elected President Denis Sassou Nguesso gather to celebrate the election results outside the headquarters of the ruling Congolese Labour Party in Brazzaville. Nicknamed the "Emperor" by some peers, the veteran leader won on March 23 another five-year term that will see him steering his country for over four decades. Sassou Nguesso, 77, has already accumulated more than 36 years in office. AFP

World

From hillside lessons in Italy to waterfalls at Australia's Uluru - today's best pictures

Take a look at some of the best images from around the world in the past 24 hours

The National

March 24, 2021

  • English
  • Arabic

More galleries from The National:

From a hoopoe in Lebanon to an FC Barcelona fishing village - today's best pictures

From fashion in an amphitheatre to a surfboarding dog - these are today's best pictures

From a Paris pet sitter to an accountant dressed as an astronaut - these are Sunday's best pictures

From happiness in Bangkok to lightning in Bhopal - these are Friday's best pictures

Student Of The Year 2

Director: Punit Malhotra

Stars: Tiger Shroff, Tara Sutaria, Ananya Pandey, Aditya Seal 

1.5 stars

All about the Sevens

Cape Town Sevens on Saturday and Sunday: Pools A – South Africa, Kenya, France, Russia; B – New Zealand, Australia, Spain, United States; C – England, Scotland, Argentina, Uganda; D – Fiji, Samoa, Canada, Wales

HSBC World Sevens Series standing after first leg in Dubai 1 South Africa; 2 New Zealand; 3 England; 4 Fiji; 5 Australia; 6 Samoa; 7 Kenya; 8 Scotland; 9 France; 10 Spain; 11 Argentina; 12 Canada; 13 Wales; 14 Uganda; 15 United States; 16 Russia

About RuPay

A homegrown card payment scheme launched by the National Payments Corporation of India and backed by the Reserve Bank of India, the country’s central bank

RuPay process payments between banks and merchants for purchases made with credit or debit cards

It has grown rapidly in India and competes with global payment network firms like MasterCard and Visa.

In India, it can be used at ATMs, for online payments and variations of the card can be used to pay for bus, metro charges, road toll payments

The name blends two words rupee and payment

Some advantages of the network include lower processing fees and transaction costs

Left Bank: Art, Passion and Rebirth of Paris 1940-1950

Agnes Poirer, Bloomsbury

Ain Dubai in numbers

126: The length in metres of the legs supporting the structure

1 football pitch: The length of each permanent spoke is longer than a professional soccer pitch

16 A380 Airbuses: The equivalent weight of the wheel rim.

9,000 tonnes: The amount of steel used to construct the project.

5 tonnes: The weight of each permanent spoke that is holding the wheel rim in place

192: The amount of cable wires used to create the wheel. They measure a distance of 2,4000km in total, the equivalent of the distance between Dubai and Cairo.

Iraq and the virus
Vidaamuyarchi

Director: Magizh Thirumeni

Stars: Ajith Kumar, Arjun Sarja, Trisha Krishnan, Regina Cassandra

Rating: 4/5

 

Killing of Qassem Suleimani
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

Killing of Qassem Suleimani
T20 World Cup Qualifier

October 18 – November 2

Opening fixtures

Friday, October 18

ICC Academy: 10am, Scotland v Singapore, 2.10pm, Netherlands v Kenya

Zayed Cricket Stadium: 2.10pm, Hong Kong v Ireland, 7.30pm, Oman v UAE

UAE squad

Ahmed Raza (captain), Rohan Mustafa, Ashfaq Ahmed, Rameez Shahzad, Darius D’Silva, Mohammed Usman, Mohammed Boota, Zawar Farid, Ghulam Shabber, Junaid Siddique, Sultan Ahmed, Imran Haider, Waheed Ahmed, Chirag Suri, Zahoor Khan

Players out: Mohammed Naveed, Shaiman Anwar, Qadeer Ahmed

Players in: Junaid Siddique, Darius D’Silva, Waheed Ahmed

Torbal Rayeh Wa Jayeh
Starring: Ali El Ghoureir, Khalil El Roumeithy, Mostafa Abo Seria
Stars: 3

Brief scoreline:

Wales 1

James 5'

Slovakia 0

Man of the Match: Dan James (Wales)

How much of your income do you need to save?

The more you save, the sooner you can retire. Tuan Phan, a board member of SimplyFI.com, says if you save just 5 per cent of your salary, you can expect to work for another 66 years before you are able to retire without too large a drop in income.

In other words, you will not save enough to retire comfortably. If you save 15 per cent, you can forward to another 43 working years. Up that to 40 per cent of your income, and your remaining working life drops to just 22 years. (see table)

Obviously, this is only a rough guide. How much you save will depend on variables, not least your salary and how much you already have in your pension pot. But it shows what you need to do to achieve financial independence.

 

World