DP World's terminal at Port Botany in Sydney. The company manages almost 40 per cent of goods flowing in and out of Australia. AFP
DP World's terminal at Port Botany in Sydney. The company manages almost 40 per cent of goods flowing in and out of Australia. AFP
DP World's terminal at Port Botany in Sydney. The company manages almost 40 per cent of goods flowing in and out of Australia. AFP
DP World's terminal at Port Botany in Sydney. The company manages almost 40 per cent of goods flowing in and out of Australia. AFP

DP World Australia resumes operations at ports after cyber attack


Aarti Nagraj
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DP World Australia, part of Dubai's global ports operator DP World, has resumed operations at all its ports across the country on Monday morning, after a cyber attack forced the company to restrict work for three days.

The resumption of operations follows the “successful tests of key systems overnight”, DP World Australia said on Monday.

The company expects that approximately 5,000 containers will move out of its four Australian terminals on Monday.

It operates terminals in Melbourne, Sydney, Brisbane and the port city of Fremantle in Western Australia.

“The ongoing investigation and response to protect networks and systems may cause some necessary, temporary disruptions to their services in the coming days,” it said.

“This is a part of an investigation process and resuming normal logistical operations at this scale.”

Dubai-based DP World employs more than 7,000 people in the Asia-Pacific region and has ports and terminals in 18 locations.

It manages almost 40 per cent of the goods flowing in and out of Australia.

“Although port operations have resumed, it does not mean that this incident has concluded,” national cyber security co-ordinator Air Marshal Darren Goldie said on X, the platform previously known as Twitter.

“The Australian government is continuing to work with DP World Australia to support the management of any further consequences, including any ongoing disruption to Australia’s supply chains.

“Investigations into the incident remain ongoing and remediation work is likely to continue for some time,” he said.

The incident follows a similar one at Industrial and Commercial Bank of China, the world's biggest lender, which was hit by a cyber attack on Friday that caused disruption in US Treasury markets and forced traders to conduct transactions using USB sticks.

Cyber security attacks can cause reputational and financial damage to people and companies. The global average for a data breach in 2022 was $4.35 million, up from $4.24 million the previous year, according to IBM's Cost of a Data Breach report.

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

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Updated: November 13, 2023, 5:26 AM