Facebook is on the defensive globally as its share price has fallen by almost 25 per cent since the company's listing last month on the Nasdaq in New York. Just prior to the initial public offering, General Motors said it would withdraw its US$10 million (Dh36.7m) budget for advertising on Facebook, casting doubt on the website's business model. Despite its stock market listing having turned sour, Facebook's new boss in Dubai - Jonathan Labin - says he aims to win advertising clients in the Middle East and North Africa (Mena).
Facebook's listing has been called the worst-performing IPO of the decade. How do you win the PR battle in this region, and convince advertisers it is a viable platform?
My focus is really on the Mena region, and working with partners here, with key clients, and creating value for them. And by working with clients like Emirates [Airline] and Pepsi, that have [seen] great success on Facebook, that's the way that we show people that Facebook works.
How many advertisers have you got on board in the Middle East?
I don't know the exact number because there are many ways to advertise on Facebook today. We focus on the big ones, but there are many that use Facebook products through their credit cards. So there are hundreds of advertisers in the region that are already using Facebook successfully. They're coming back every day to use it more and more.
How relevant is Facebook to the Arabic-speaking people in this region?
I think the numbers are a good manifestation of that. There are 45 million people using Facebook in this region. That's a huge number. There are 20 million people using Facebook on their mobile phones.
That 45 million people represents about 5 per cent of Facebook's total user base. Are advertising revenues in line with that?
I can't break down any advertising revenues. But what I see with many advertisers is that they're getting more and more excited to work with us. We're starting to talk with many clients about what we are going to do during Ramadan, which is a very, very special time of the year. You see a lot of media-meshing happening during Ramadan, meaning that a lot of people watch TV, but at the same time they use Facebook to comment on the TV shows and to vote. And the question is, how can you use Facebook in a way that actually enhances the advertising that you do on TV?
How have you found your move to open an office in Dubai?
I love coming here. It's a great region, and I love being received here by people. Everyone was extremely welcoming, and said "great, you're finally here … finally we can do more business together."
* Ben Flanagan
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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
Tips from the expert
Dobromir Radichkov, chief data officer at dubizzle and Bayut, offers a few tips for UAE residents looking to earn some cash from pre-loved items.
- Sellers should focus on providing high-quality used goods at attractive prices to buyers.
- It’s important to use clear and appealing photos, with catchy titles and detailed descriptions to capture the attention of prospective buyers.
- Try to advertise a realistic price to attract buyers looking for good deals, especially in the current environment where consumers are significantly more price-sensitive.
- Be creative and look around your home for valuable items that you no longer need but might be useful to others.
The specs: 2018 Audi Q5/SQ5
Price, base: Dh183,900 / Dh249,000
Engine: 2.0L, turbocharged in-line four-cylinder / 3.0L, turbocharged V6
Gearbox: Seven-speed automatic / Eight-speed automatic
Power: 252hp @ 5,000rpm / 354hp @ 5,400rpm
Torque: 370Nm @ 1,600rpm / 500Nm @ 1,370rpm
Fuel economy: combined 7.2L / 100km / 8.3L / 100km
MATCH INFO
Manchester United 1 (Fernandes pen 2') Tottenham Hotspur 6 (Ndombele 4', Son 7' & 37' Kane (30' & pen 79, Aurier 51')
Man of the match Son Heung-min (Tottenham)
UAE%20medallists%20at%20Asian%20Games%202023
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MATCH DETAILS
Barcelona 0
Slavia Prague 0
Match info
Bournemouth 0
Liverpool 4 (Salah 25', 48', 76', Cook 68' OG)
Man of the match: Andrew Robertson (Liverpool)
