One of the first electric vehicles to be manufactured in the UAE is also proving to be one of the most popular attractions on display at the Adipec 2023 gathering in Abu Dhabi of global energy professionals.
At the conference attended by about 160,000 people, the Rabdan One, a five-seater SUV, is featured prominently at the UAE Ministry of Industry and Advanced Technology’s booth, and its popularity among those in attendance occasionally creates congestion in terms of foot traffic.
“Hopefully this is just the beginning of the establishment of an electric vehicle industry in the UAE,” said Tariq Al Hashmi, the ministry's director of technology adoption and development.
“It’s part of our ‘Operation 300bn’ programme,” he added, referring to the UAE’s 10-year industrial strategy announced in 2022 that seeks to double the share of the manufacturing sector to the country's gross domestic product to Dh300 billion by 2031 from Dh133 billion in 2021.
The Rabdan One is manufactured by UAE electric car maker NWTN, which has its headquarters in Dubai and a vehicle assembly facility in Abu Dhabi.
The company also showed off a luxury smart passenger vehicle, the Rabdan Muse, at the Pebble Beach Concours d'Elegance car show last month in California.
The vehicle on display at Adipec had ‘Made In The Emirates’ displayed on the doors and bonnet, in line with the country's initiative to promote local manufacturing.
“We’re really proud to have an electric vehicle that’s manufactured in the UAE,” said Mr Al Hashmi.
Pricing of the vehicle has not yet been revealed, but sign-up registration for interest in the car is possible on NWTN’s website.
The company describes the Rabdan One as a “dynamic, intelligent, and comfortable, all-wheel-drive SUV that adopts the world's leading range extension technology".
It also touts a comprehensive driving range of “up to 860 kilometres".
NWTN said in May that it hosted a test drive event for more than 100 potential buyers.
“Our first test drive experience in the UAE was designed to showcase Rabdan One’s game-changing electric vehicle performance and technology, as well as highlight its versatility,” Luen Govender, head of NWTN’s Abu Dhabi Plant said at the time.
The carmaker has also indicated that it expects sales of the Rabdan One to exceed 5,000 vehicles over a five-year period.
Mohammed bin Zayed Majlis
Jebel Ali results
2pm: Handicap (PA) Dh 50,000 (Dirt) 1,400m
Winner: AF Al Moreeb, Antonio Fresu (jockey), Ernst Oertel (trainer)
2.30pm: Maiden (TB) Dh 60,000 (D) 1,400m
Winner: Shamikh, Ryan Curatolo, Nicholas Bachalard
3pm: Handicap (TB) Dh 64,000 (D) 1,600m
Winner: One Vision, Connor Beasley, Ali Rashid Al Raihe
3.30pm: Conditions (TB) Dh 100,000 (D) 1,600m
Winner: Gabr, Sam Hitchcott, Doug Watson
4pm: Handicap (TB) Dh 96,000 (D) 1,800m
Winner: Just A Penny, Sam Hitchcock, Doug Watson
4.30pm: Maiden (TB) Dh 60,000 (D) 1,600m
Winner: Torno Subito, Sam Hitchcock, Doug Watson
5pm: Handicap (TB) Dh 76,000 (D) 1,950m
Winner: Untold Secret, Jose Santiago, Salem bin Ghadayer
The biog
Favourite food: Tabbouleh, greek salad and sushi
Favourite TV show: That 70s Show
Favourite animal: Ferrets, they are smart, sensitive, playful and loving
Favourite holiday destination: Seychelles, my resolution for 2020 is to visit as many spiritual retreats and animal shelters across the world as I can
Name of first pet: Eddy, a Persian cat that showed up at our home
Favourite dog breed: I love them all - if I had to pick Yorkshire terrier for small dogs and St Bernard's for big
MATCH DETAILS
Barcelona 0
Slavia Prague 0
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
UFC%20FIGHT%20NIGHT%3A%20SAUDI%20ARABIA%20RESULTS
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