Dubai to host World Corporate Summit with central theme of sport

Dubai will host the World Corporate Summit in November, with sports and business growth being the central topics of the event.

Key decision makers from across multinational corporations, major UAE-based companies, and government institutions will attend the summit, which is supported by Dubai’s Department of Economy and Tourism.

The invite-only event, which runs from November 16 to December 21 at the Palace Hotel, Downtown Dubai, overlaps with the 2022 World Cup in Qatar, and will have an overarching theme of sport, the World Corporate Summit said in a statement.

“Hosting mega-events such as Expo 2020 Dubai and 2022 World Cup in the region not only provides a unique opportunity to drive investment but also allows us to host business leaders to exchange ideas that can bring positive change to the global economy," said Ahmed Al Khaja, chief executive, Dubai Festivals and Retail Establishment, an agency of Dubai’s Department of Economy and Tourism.

"The World Corporate Summit, I believe, will be a great platform to elevate Dubai’s position as the destination for business and luxury, as well as to create partnerships, enter deals and discuss plans for the future of business."

The summit will feature closed-door forums and meetings with the city's business ecosystem. Attendees will visit key business and innovation districts in addition to having opportunities to interact with the funding and investment community.

A list of speakers on the World Corporate Summit website includes among others Abdulla bin Touq, Minister of Economy, Khawaja Aftab Ahmed, the regional director for the Middle East of the International Finance Corporation, and Javier Tebas, president of Spain's La Liga.

THE BIO: Martin Van Almsick

Hometown: Cologne, Germany

Family: Wife Hanan Ahmed and their three children, Marrah (23), Tibijan (19), Amon (13)

Favourite dessert: Umm Ali with dark camel milk chocolate flakes

Favourite hobby: Football

Breakfast routine: a tall glass of camel milk

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UPI facts

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More than 3.5 million Indians reside in UAE
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Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions

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