Michel Chalhoub, founder and chairman of Dubai-based luxury retailer Chalhoub Group, has died. He was 89.
Chalhoub founded the group in 1955 with his wife, Widad, in Damascus, Syria.
Today, the luxury goods retailer and distributor has more than 750 retail shops in the region that sell brands such as Chanel, Louis Vuitton and Christian Louboutin. It employs about 12,000 workers in 14 countries.
“It is with deep sadness that we inform you of the passing of Michel Chalhoub, Chalhoub Group’s founder and chairman, at the age of 89 years,” the company's board of presidents said in a July 31 statement that was seen by The National.
“A visionary leader who saw the potential of the Gulf countries since the 1950s, embarked on a journey with his wife Widad to start the story of Chalhoub Group together. An ambassador of luxury who introduced many prestigious brands in the Middle East, [he] sparked a taste for exceptional products and brands in the region and greatly contributed to the shaping of the luxury market as we know it today.”
Chalhoub, who was born in Damascus in 1931, lived in Dubai with his wife. Their two sons, Anthony and Patrick, took over as co-chief executives of the group in 2001. Patrick became the sole chief executive in 2018 after the death of his brother, Anthony.
The Chalhoub Group represents LVMH in the Middle East and more than 300 other brands that include Sephora, Tod’s, Michael Kors, L’Occitane, Lacoste and Tory Burch.
It is also the owner of one of the biggest shoe shops in the world. Located in Dubai, the Level Shoes spans more than 96,000 square feet (8,918 square metres).
For the past three years, the group has been changing from a traditional to a hybrid retailer with a wider online reach to complement its physical shops. Last year, it revealed that it was reorganising its operations as the Covid-19 pandemic hastened its digital and e-commerce drive.
The luxury retailer business is structured across managed companies, operations, people and culture; joint venture; and strategy, growth, innovation and investment.
The company said its founder was "a resilient entrepreneur who established the group’s business and had to rebuild it after several historic events of turmoil and crisis. A passionate, dedicated and generous man who leaves behind a solid foundation and a legacy that will long serve to inspire us … A loving husband and a doting father, grandfather and great grandfather”.
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What: International friendly
When: 7pm kick off
Where: Rugby Park, Dubai Sports City
Admission: Free
Online: The match will be broadcast live on Dubai Exiles’ Facebook page
UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)
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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.
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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.
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Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
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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.
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The new speaker of Iraq’s parliament Mohammed Al Halbousi is the youngest person ever to serve in the role.
The 37-year-old was born in Al Garmah in Anbar and studied civil engineering in Baghdad before going into business. His development company Al Hadeed undertook reconstruction contracts rebuilding parts of Fallujah’s infrastructure.
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How the UAE gratuity payment is calculated now
Employees leaving an organisation are entitled to an end-of-service gratuity after completing at least one year of service.
The tenure is calculated on the number of days worked and does not include lengthy leave periods, such as a sabbatical. If you have worked for a company between one and five years, you are paid 21 days of pay based on your final basic salary. After five years, however, you are entitled to 30 days of pay. The total lump sum you receive is based on the duration of your employment.
1. For those who have worked between one and five years, on a basic salary of Dh10,000 (calculation based on 30 days):
a. Dh10,000 ÷ 30 = Dh333.33. Your daily wage is Dh333.33
b. Dh333.33 x 21 = Dh7,000. So 21 days salary equates to Dh7,000 in gratuity entitlement for each year of service. Multiply this figure for every year of service up to five years.
2. For those who have worked more than five years
c. 333.33 x 30 = Dh10,000. So 30 days’ salary is Dh10,000 in gratuity entitlement for each year of service.
Note: The maximum figure cannot exceed two years total salary figure.
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