A three-day festival to celebrate music from Saudi Arabia has been launched.
The Kingdom Music Festival is set to take place at the Jeddah Superdome from September 28 to 30, and will feature performances by luminaries including Mohammed Abdu and Abdul Majeed Abdullah. Saudi singers Abadi Al-Johar, Dalia Mubarak and Talal Salama will also perform.
A number of Saudi music composers will also be honoured, including Omar Kadras, Fawzi Mahsoun, Saleh Al-Shehri, Mohammed Shafiq, Tariq Abdul Hakim, Talal Bagher and Abdel Rabb Idris.
Organised by Saudi Arabia's Ministry of Culture, the festival will “highlight the history of songs” in the country, state news agency SPA said.
An exhibition will also showcase historical events that have changed Saudi music and introduce prominent composers throughout the years.
Abdu will kick off the festival and perform songs composed by Kadras and Idris on the first night. On the second, Abdullah will perform songs by composers Mahsoun and Al-Shehri.
On the last night, Al-Johar will perform songs composed by Bagher, while Mubarak will perform songs composed by Abdulhakim, and Salama will perform songs by Shafiq.
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Men’s finals: 60kg - Amiran Papinashvili (GEO) bt Francisco Garrigos (ESP); 66kg - Vazha Margvelashvili (Geo) bt Yerlan Serikzhanov (KAZ)
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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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