Myles Bush usually helps clients buy and sell property in Dubai. But the chief executive of PowerHouse Properties is set to travel to Nepal today on a two-week mountain climb for charity. He talks about the tough conditions that await him and how he's tapped his business network to raise funds.
Last year, you and a group of hikers set up Climb for Cancer, which raises funds for the King Hussein Cancer Center in Jordan. Why did you get involved with that group?
I'd lost one of my closest friends, and my grandfather, to cancer last year. That's the primary reason why I wanted to do something to raise money for people suffering from cancer. We climbed [Mount] Kilimanjaro. There was a team of me plus five last year. This year we're up to a team of 12.
Why focus on a charity in Jordan, and not within the UAE?
It's the most advanced, and leading cancer foundation within the Middle East and North Africa region. There's no particular favouritism towards it. I'm certainly not Jordanian.
What kinds of conditions will you face in Nepal?
We start off in more tropical, pleasant weather. Eight are going to Everest base camp. Me, plus three others, are going to Island Peak. The conditions up at the top there are like hell on Earth: it's snowstorms, white-outs and blizzards.
How far are you from your fund-raising goal?
The goal is US$202,000 [Dh741,000], and we are currently at around $165,000. We're doing OK, but we still need a little bit more assistance.
Have you been pushing your network of contacts to donate?
Absolutely. We've been reaching out to our friends and family, and doing several activities. On Friday, a company called Streetwise gave up their morning to do a boot camp [in Dubai, where anybody who turned] up threw in a donation to join in on a tyre-throwing, rope-dodging, beach-sprinting hour of pain.
What strategy have you used to get business contacts to donate?
I take care of our high-end clients, from diplomats to sports celebrities looking to buy or sell property. I started off gently. I say what we're doing [in Nepal] and, "I'm not calling about business or to sell you a property or hound you about real estate. I'm calling you to ask would you be comfortable in doing something for the greater good? This is what I'm giving up - two weeks of my time, which is money in itself - and would you throw in Dh100 or Dh1,000?"
That seems to work well?
It works really well, just by pulling on the heartstring.
Do you think you'll do a hike again next year or take a break?
I'm not going to take a break. My lifetime goal is to climb Everest. Next year I'd like to [scale a high point] in South America. The following year, if all goes well … I'm going for the climb.
To find out more about the children whom Climb for Cancer aims to help, visit firstgiving.com/climbforcancer
* Neil Parmar
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What are the main cyber security threats?
Cyber crime - This includes fraud, impersonation, scams and deepfake technology, tactics that are increasingly targeting infrastructure and exploiting human vulnerabilities.
Cyber terrorism - Social media platforms are used to spread radical ideologies, misinformation and disinformation, often with the aim of disrupting critical infrastructure such as power grids.
Cyber warfare - Shaped by geopolitical tension, hostile actors seek to infiltrate and compromise national infrastructure, using one country’s systems as a springboard to launch attacks on others.
Infiniti QX80 specs
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Power: 450hp
Torque: 700Nm
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UAE currency: the story behind the money in your pockets
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1. Fasting
2. Prayer
3. Hajj
4. Shahada
5. Zakat
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Distance covered: 160km
Temperature: -40°C
Weight of equipment: 45kg
Altitude (metres above sea level): 0
Terrain: Ice rock
South Pole stats
Distance covered: 130km
Temperature: -50°C
Weight of equipment: 50kg
Altitude (metres above sea level): 3,300
Terrain: Flat ice
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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
More on Palestine-Israeli relations
Tax authority targets shisha levy evasion
The Federal Tax Authority will track shisha imports with electronic markers to protect customers and ensure levies have been paid.
Khalid Ali Al Bustani, director of the tax authority, on Sunday said the move is to "prevent tax evasion and support the authority’s tax collection efforts".
The scheme’s first phase, which came into effect on 1st January, 2019, covers all types of imported and domestically produced and distributed cigarettes. As of May 1, importing any type of cigarettes without the digital marks will be prohibited.
He said the latest phase will see imported and locally produced shisha tobacco tracked by the final quarter of this year.
"The FTA also maintains ongoing communication with concerned companies, to help them adapt their systems to meet our requirements and coordinate between all parties involved," he said.
As with cigarettes, shisha was hit with a 100 per cent tax in October 2017, though manufacturers and cafes absorbed some of the costs to prevent prices doubling.
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Southampton 2 (Ings 32' & pen 89') Tottenham Hotspur 5 (Son 45', 47', 64', & 73', Kane 82')
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French business
France has organised a delegation of leading businesses to travel to Syria. The group was led by French shipping giant CMA CGM, which struck a 30-year contract in May with the Syrian government to develop and run Latakia port. Also present were water and waste management company Suez, defence multinational Thales, and Ellipse Group, which is currently looking into rehabilitating Syrian hospitals.
Men's football draw
Group A: UAE, Spain, South Africa, Jamaica
Group B: Bangladesh, Serbia, Korea
Group C: Bharat, Denmark, Kenya, USA
Group D: Oman, Austria, Rwanda
UAE currency: the story behind the money in your pockets
