'Top Gun: Maverick' starring Tom Cruise has once again been postponed owing to the rise in coronavirus cases and the Delta variant in the US. AP
'Top Gun: Maverick' starring Tom Cruise has once again been postponed owing to the rise in coronavirus cases and the Delta variant in the US. AP
'Top Gun: Maverick' starring Tom Cruise has once again been postponed owing to the rise in coronavirus cases and the Delta variant in the US. AP
'Top Gun: Maverick' starring Tom Cruise has once again been postponed owing to the rise in coronavirus cases and the Delta variant in the US. AP

'Mission: Impossible 7' and 'Top Gun: Maverick' release dates pushed back again


Evelyn Lau
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Paramount is delaying the release of its Tom Cruise films Top Gun: Maverick and Mission: Impossible 7, pushing them back to 2022 due to concerns over the rise of Covid-19 cases caused by the Delta variant.

Top Gun: Maverick had a release date of November 19, but has now been pushed back to May 27, while Mission: Impossible 7, which had the original date of May 27, 2022, has now been shifted to September 30.

Deadline reports that Paramount is worried about lacklustre box office numbers owing to the pandemic and would rather delay the films in the hopes that things improve, rather than risk a low turnout from cinemagoers on the previously scheduled dates.

However, despite the delay, there are still a number of major films due to be released in the coming months in the UAE.

Disney’s Shang-Chi and the Legend of the Ten Rings comes out on Thursday, Denis Villeneuve’s Dune, which was partially filmed in the UAE, will be released on Thursday, September 23, and the anticipated James Bond flick No Time to Die will be out on Thursday, October 7.

The news of Mission: Impossible 7, which was partly shot in Abu Dhabi, being delayed also comes after it was reported that Paramount had filed a US lawsuit against Federal Insurance Company claiming its $5 million pay out had only compensated for a fraction of Covid-related losses.

The studio said production was forced to stop seven times during the pandemic, for reasons including coronavirus cases among the crew and travel restrictions in the UK and Italy.

Tom Cruise on the set of 'Mission Impossible 7' in Rome, Italy, in October 2020. Reuters
Tom Cruise on the set of 'Mission Impossible 7' in Rome, Italy, in October 2020. Reuters

According to Paramount, Federal claimed that many of the losses incurred were not covered by the insurance and it would not compensate for production stopped by positive tests.

"Remarkably, Federal stated that there was no evidence that those cast and crew members could not continue their duties, despite being infected with Sars-Cov-2 and posing an undeniable risk to other individuals involved with the production," the Paramount lawsuit said.

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Zakat definitions

Zakat: an Arabic word meaning ‘to cleanse’ or ‘purification’.

Nisab: the minimum amount that a Muslim must have before being obliged to pay zakat. Traditionally, the nisab threshold was 87.48 grams of gold, or 612.36 grams of silver. The monetary value of the nisab therefore varies by current prices and currencies.

Zakat Al Mal: the ‘cleansing’ of wealth, as one of the five pillars of Islam; a spiritual duty for all Muslims meeting the ‘nisab’ wealth criteria in a lunar year, to pay 2.5 per cent of their wealth in alms to the deserving and needy.

Zakat Al Fitr: a donation to charity given during Ramadan, before Eid Al Fitr, in the form of food. Every adult Muslim who possesses food in excess of the needs of themselves and their family must pay two qadahs (an old measure just over 2 kilograms) of flour, wheat, barley or rice from each person in a household, as a minimum.

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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

Updated: September 02, 2021, 9:23 AM