Abu Dhabi’s International Holding Company has bought a 25 per cent stake in Dubai-based trading company Invictus through one of its subsidiaries.
IHC Food Holding will make buy the stake through a subsidiary, the company said in a brief statement on Wednesday to the Abu Dhabi Securities Exchange, where its shares are traded.
Established in Jafza in 2014, Invictus Trading initially managed raw material import requirements for Sudan-based manufacturing conglomerate DAL Group. It has since expanded operations, specialising in trading various commodities, agri-food and finished goods across Africa, the Middle East and Asia.
Financial details of the deal, which is subject to regulatory approvals, were not provided.
IHC, majority-owned by Abu Dhabi's PAL group of companies, includes more than 30 entities with a portfolio of 323 subsidiaries as of the end of March.
The conglomerate is expanding and diversifying its holdings across a number of sectors such as real estate, agriculture, health care, food and beverage, utilities, retail and leisure, among others.
It is also included in the FTSE ADX 15 Index, which represents the top 15 largest and most liquid companies on the ADX.
IHC made a number of new investments last year, including acquiring a controlling stake in Abu Dhabi-based investment company Al Qudra Holding and a 60 per cent stake in Afkar Financial and Property Investments.
It also holds a 48 per cent share in Emirates Driving Company and a 60 per cent interest in Royal Horizon Holding and its subsidiaries, among others.
Last month, the company completed a deal to invest Dh7.3 billion ($1.94bn) in the Indian business conglomerate Adani Group, which is led by billionaire industrialist Gautam Adani.
IHC also committed to invest $50 million in Borouge's $2bn initial public offering on the ADX, the biggest share sale on the exchange.
Late last month, its subsidiary Al Seer Marine also bought two liquefied petroleum gas tankers worth Dh246m to tap into higher demand for charter vessels to transport LNG globally.
Heather, the Totality
Matthew Weiner,
Canongate
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
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
