Much like books stand spine to spine on a bookcase, Sharjah is standing in solidarity with its literary peers in Lebanon.
In collaboration with the Sharjah World Book Capital Office (SWBCO) and Sharjah Book Authority, the emirate has created an emergency relief fund to support publishers affected by August's blast in Beirut.
SWBCO has created a fund of Dh200,000, which will be split into two grants designed to help publishers stay afloat amid the economic ramifications of the explosion, which killed almost 200 people, wounded 6,500, and devastated swathes of the city.
“Supporting the Arab world’s publishing sector is one of our top priorities at SWBCO and a pillar on which the celebrations of the title began on," says Sheikha Bodour Al Qasimi, vice president of the International Publishers Association and head of SWBCO.
"Publishers are the core of the book industry, and providing support will reflect positively on the cultural movement and help attract more investment into the cultural sector locally and internationally."
The first grant will go towards supporting the next Beirut International Book Fair, a date for which has not yet been set.
The second grant will be used to support Lebanese publishers who have taken a hit in sales, driven by the cancellation or postponement of Arab book fairs and exhibitions.
Beneficiaries will be decided by a committee formed by the Sharjah Book Authority; interested publishers can submit proposals by emailing grant@sibf.com.
"We always believed that Arab culture is a strong bond that brings us together," says Ahmed bin Rakkad Al Ameri, chairman of the Sharjah Book Authority.
Creativity in all its forms is the foundation for advanced and humane societies
"Based on that, and in cooperation with SWBCO, we were keen on supporting publishers and creatives in the Lebanese capital during this ordeal to enable them carry on — because we believe that creativity in all its forms is the foundation for advanced and humane societies.”
Sharjah Book Authority will also waive set-up fees for any Lebanese publishers interested in regional or global expansion through Sharjah Publishing City Free Zone. Interested applicants can email info@spcfz.com.
The announcements follow news that Sheikha Bodour and SWBCO will be leading efforts to restore three libraries damaged by the Beirut explosion.
The work entails extensive renovation of the Monnot library, as well as supplying new equipment to upgrade the Bachoura and Geitawi libraries.
Tips for SMEs to cope
- Adapt your business model. Make changes that are future-proof to the new normal
- Make sure you have an online presence
- Open communication with suppliers, especially if they are international. Look for local suppliers to avoid delivery delays
- Open communication with customers to see how they are coping and be flexible about extending terms, etc
Courtesy: Craig Moore, founder and CEO of Beehive, which provides term finance and working capital finance to SMEs. Only SMEs that have been trading for two years are eligible for funding from Beehive.
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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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