Relationships in Latin America became decidedly chilly at the weekend after an airline company had its permission to operate some flights suspended.
Bolivia's air transport regulator said units of Latam Airlines Group had lost their operating licences to fly in the Andean country, although they could still file to extend or renew them. Two units of the Latam group, Lan and Tam-Mercosur, "are not authorised to continue providing service as of February 15", the regulator said. No reason was given.
A statement on Lan's website said the affected airlines would "formally seek to renew their licences, with the objective of continuing to regularly operate their flights".
"Flights in which customers had already bought their tickets will operate normally and will not be affected by the resolution."
Lan and Tam serve the Bolivian cities of Santa Cruz and La Paz, with direct flights from Iquique, Chile, Lima, Peru, and Asuncion, Paraguay. The site did not mention the number of flights affected.
Industry sources said earlier the carriers were still planning to provide service to Bolivia until formally notified of the ruling. Latam Airlines, Latin America's largest carrier, is the product of the recent takeover by the Chilean flagship airline Lan of Brazil's Tam.
Last week, Latam reported passenger traffic increased 6.3 per cent last month as capacity rose 6.1 from the same month last year. International passenger traffic accounted for about 50 per cent of last month's total traffic.
Domestic traffic in Latam's Spanish speaking operations (Chile, Argentina, Peru, Ecuador and Colombia) rose 10 per cent, as did capacity, compared with January last year. Domestic traffic in Brazil rose 3.8 per cent, as capacity decreased 5.2 per cent. International passenger traffic rose 6.7 per cent, while capacity increased 13.6 per cent. International traffic includes international operations of both Lan and Tam on regional and long-haul routes.
Cargo traffic for Latam slid 1.1 per cent last month on the same month last year, as capacity increased 4.9 per cent.
The decrease in traffic was driven by weaker imports into Latin America, the company said.
* with Reuters
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
How to register as a donor
1) Organ donors can register on the Hayat app, run by the Ministry of Health and Prevention
2) There are about 11,000 patients in the country in need of organ transplants
3) People must be over 21. Emiratis and residents can register.
4) The campaign uses the hashtag #donate_hope
Teachers' pay - what you need to know
Pay varies significantly depending on the school, its rating and the curriculum. Here's a rough guide as of January 2021:
- top end schools tend to pay Dh16,000-17,000 a month - plus a monthly housing allowance of up to Dh6,000. These tend to be British curriculum schools rated 'outstanding' or 'very good', followed by American schools
- average salary across curriculums and skill levels is about Dh10,000, recruiters say
- it is becoming more common for schools to provide accommodation, sometimes in an apartment block with other teachers, rather than hand teachers a cash housing allowance
- some strong performing schools have cut back on salaries since the pandemic began, sometimes offering Dh16,000 including the housing allowance, which reflects the slump in rental costs, and sheer demand for jobs
- maths and science teachers are most in demand and some schools will pay up to Dh3,000 more than other teachers in recognition of their technical skills
- at the other end of the market, teachers in some Indian schools, where fees are lower and competition among applicants is intense, can be paid as low as Dh3,000 per month
- in Indian schools, it has also become common for teachers to share residential accommodation, living in a block with colleagues
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Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
