epa07937573 Gimnasia y Esgrima's head coach Diego Maradona gestures to fans after the defeat of his team during a match between Gimnasia y Esgrima and Union for the Argentine soccer Super League, at the Juan Carmelo Zerillo stadium in La Plata, Buenos Aires, Argentina, 20 October 2019. EPA/Demian Alday Estévez
epa07937573 Gimnasia y Esgrima's head coach Diego Maradona gestures to fans after the defeat of his team during a match between Gimnasia y Esgrima and Union for the Argentine soccer Super League, at the Juan Carmelo Zerillo stadium in La Plata, Buenos Aires, Argentina, 20 October 2019. EPA/Demian Alday Estévez
epa07937573 Gimnasia y Esgrima's head coach Diego Maradona gestures to fans after the defeat of his team during a match between Gimnasia y Esgrima and Union for the Argentine soccer Super League, at the Juan Carmelo Zerillo stadium in La Plata, Buenos Aires, Argentina, 20 October 2019. EPA/Demian Alday Estévez
epa07937573 Gimnasia y Esgrima's head coach Diego Maradona gestures to fans after the defeat of his team during a match between Gimnasia y Esgrima and Union for the Argentine soccer Super League, at t

A throne, a warm reception, and a win: Diego Maradona gets an early birthday present from Newell's Old Boys


John McAuley
  • English
  • Arabic

It was a welcome fit for a king.

Diego Maradona returned to Newell’s Old Boys on Tuesday, where he led current side Gimnasia to a shock 4-0 victory at the Estadio Marcelo Bielsa.

The Argentine, who turned 59 the following day, played only a few times for Old Boys, way back in 1993, but he was serenaded both outside the stadium and in – including hours before the match, at his hotel in Rosario.

When he arrived at the ground, Maradona was presented on the touchline with a special chair, which he dutifully signed. He then nestled into his “throne” to watch his team, who were rooted to the bottom of the Argentine first division, record a memorable victory. With it, Gimnasia moved up one spot in the table.

Television fans got a ringside view, too: to the World Cup winner himself, through a live “Diego Cam” that throughout the match streamed footage of the former forward.

Imagine the celebrations for his actual birthday on Wednesday …

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Also on December 7 to 9, the third edition of the Gulf Car Festival (www.gulfcarfestival.com) will take over Dubai Festival City Mall, a new venue for the event. Last year's festival brought together about 900 cars worth more than Dh300 million from across the Emirates and wider Gulf region – and that first figure is set to swell by several hundred this time around, with between 1,000 and 1,200 cars expected. The first day is themed around American muscle; the second centres on supercars, exotics, European cars and classics; and the final day will major in JDM (Japanese domestic market) cars, tuned vehicles and trucks. Individuals and car clubs can register their vehicles, although the festival isn’t all static displays, with stunt drifting, a rev battle, car pulls and a burnout competition.

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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

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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Soft power was first mentioned in 1990 by former US Defence Secretary Joseph Nye. 
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Soft power is, at its root, the ability to convince other states to do what you want without force. 
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