Every week, I have this tendency to go on and on about myself in this column. And it gets a little boring, mostly because I'd like to think that I'm not that self-centred.
I'm not really very comfortable talking about myself, especially week in and week out. But when you are writing a personal finance column, it's hard not to let your life or experiences creep into it.
These days, I'm feeling like I'm in the middle of a scene from that 1988 film Beaches, when CC Bloom (played by Bette Midler) says: "But enough about me, let's talk about you ... what do YOU think about me?"
Occasionally - OK, pretty much every week - I struggle to come up with a personal finance topic that's compelling enough to capture readers' attention.
That's not to say there's not a lot going on in the UAE - and there is: from banks gouging us with high fees and charging some of the world's highest interest rates, to enduring the roller-coaster ride of inflation over the past few years, the soaring prices of food and the high cost the global financial crisis has had on many people.
But if there's one topic that I've touched on that has garnered the biggest response, it has to be school fees. Which is why I'm writing about them again.
Since writing my column last week on my experiences with exorbitant school fees, false promises and the lack of quality education at my daughter's former school, I've heard from a lot of parents. Some wanted to know which school my daughter was now attending so they could apply for a place for their own child.
Others had real concerns, such as one parent who is sending their child to a school that has also been long promising a swimming pool. And it isn't the same school that my daughter used to attend.
Another is concerned that the school his daughter attends has applied to the Abu Dhabi Education Council to raise its fees to more than Dh66,000 for the next school year.
If granted, this would mark the second year in a row that this school has raised its fees.
"Most of the parents I've spoken to are leaving the school and are having to go back home," the parent, who doesn't want to be identified, says. "The principal takes the view that we are expats and we can afford it."
Profiteering is one word that some of the parents have used to describe their experiences with high school fees and the lack of quality they receive in return.
What I don't understand is that the education authorities have to approve the fees parents are being charged, as well as any increases the school might want to introduce in the future.
It would be interesting to know what the schools are telling the authorities to get their fee increases granted. What are they promising? And how are they proving that they are providing a good-quality education for the students when they are paying teachers so little?
Judging from the responses I've had from many parents this week, they are just as perplexed as I am.
My education problems might be over, but for two years, I did get the runaround from a school that promised a lot but delivered very little. When I challenged the principal of that school, daring to question the ethics of raising school fees in the middle of the summer holidays on the back of building a swimming pool that had been promised since 2008, he replied that there were special programmes for parents who couldn't afford school fees. Not once did I say in my correspondence with him that I couldn't afford his school's outrageous fees. Was he insulting me or did he just not get it?
This principal also described himself as the chief executive of the school. So the way I saw it, he was responsible for the financials.
He never did answer my question about what percentage of my fees had been going towards that much-promised pool since 2008.
As you know, it didn't matter in the end because my daughter was offered a place in what I believe to be one of the best schools in the capital. And that's all I cared about by that stage. My nightmare was over, but for many parents, they are still living it.
As a long-term expat, I always knew that I would have to pay for my child's education because she can't attend the local schools in the countries we live in. But in return for the money I pay, is it too much to expect that she has the right to receive a top-class education that is comparable with world standards?
We all have a right to that. Regardless of who we are and where we are from. And so do our children.
What are your experiences with schools in the UAE? Write to us at pf@thenational.ae
2024%20Dubai%20Marathon%20Results
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Springsteen: Deliver Me from Nowhere
Director: Scott Cooper
Starring: Jeremy Allen White, Odessa Young, Jeremy Strong
Rating: 4/5
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
COMPANY%20PROFILE
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ACL Elite (West) - fixtures
Monday, Sept 30
Al Sadd v Esteghlal (8pm)
Persepolis v Pakhtakor (8pm)
Al Wasl v Al Ahli (8pm)
Al Nassr v Al Rayyan (10pm)
Tuesday, Oct 1
Al Hilal v Al Shorta (10pm)
Al Gharafa v Al Ain (10pm)
LA LIGA FIXTURES
Friday Valladolid v Osasuna (Kick-off midnight UAE)
Saturday Valencia v Athletic Bilbao (5pm), Getafe v Sevilla (7.15pm), Huesca v Alaves (9.30pm), Real Madrid v Atletico Madrid (midnight)
Sunday Real Sociedad v Eibar (5pm), Real Betis v Villarreal (7.15pm), Elche v Granada (9.30pm), Barcelona v Levante (midnight)
Monday Celta Vigo v Cadiz (midnight)
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
Available: Now
In-demand jobs and monthly salaries
- Technology expert in robotics and automation: Dh20,000 to Dh40,000
- Energy engineer: Dh25,000 to Dh30,000
- Production engineer: Dh30,000 to Dh40,000
- Data-driven supply chain management professional: Dh30,000 to Dh50,000
- HR leader: Dh40,000 to Dh60,000
- Engineering leader: Dh30,000 to Dh55,000
- Project manager: Dh55,000 to Dh65,000
- Senior reservoir engineer: Dh40,000 to Dh55,000
- Senior drilling engineer: Dh38,000 to Dh46,000
- Senior process engineer: Dh28,000 to Dh38,000
- Senior maintenance engineer: Dh22,000 to Dh34,000
- Field engineer: Dh6,500 to Dh7,500
- Field supervisor: Dh9,000 to Dh12,000
- Field operator: Dh5,000 to Dh7,000
more from Janine di Giovanni
ICC men's cricketer of the year
2004 - Rahul Dravid (IND) ; 2005 - Jacques Kallis (SA) and Andrew Flintoff (ENG); 2006 - Ricky Ponting (AUS); 2007 - Ricky Ponting; 2008 - Shivnarine Chanderpaul (WI); 2009 - Mitchell Johnson (AUS); 2010 - Sachin Tendulkar (IND); 2011 - Jonathan Trott (ENG); 2012 - Kumar Sangakkara (SL); 2013 - Michael Clarke (AUS); 2014 - Mitchell Johnson; 2015 - Steve Smith (AUS); 2016 - Ravichandran Ashwin (IND); 2017 - Virat Kohli (IND); 2018 - Virat Kohli; 2019 - Ben Stokes (ENG); 2021 - Shaheen Afridi
The specs
Engine: 2.0-litre 4-cyl turbo
Power: 247hp at 6,500rpm
Torque: 370Nm from 1,500-3,500rpm
Transmission: 10-speed auto
Fuel consumption: 7.8L/100km
Price: from Dh94,900
On sale: now
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
About Karol Nawrocki
• Supports military aid for Ukraine, unlike other eurosceptic leaders, but he will oppose its membership in western alliances.
• A nationalist, his campaign slogan was Poland First. "Let's help others, but let's take care of our own citizens first," he said on social media in April.
• Cultivates tough-guy image, posting videos of himself at shooting ranges and in boxing rings.
• Met Donald Trump at the White House and received his backing.
BIRD%20BOX%20BARCELONA
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BEACH SOCCER WORLD CUP
Group A
Paraguay
Japan
Switzerland
USA
Group B
Uruguay
Mexico
Italy
Tahiti
Group C
Belarus
UAE
Senegal
Russia
Group D
Brazil
Oman
Portugal
Nigeria
THE DETAILS
Solo: A Star Wars Story
Director: Ron Howard
2/5
The five pillars of Islam
F1 2020 calendar
March 15 - Australia, Melbourne; March 22 - Bahrain, Sakhir; April 5 - Vietnam, Hanoi; April 19 - China, Shanghai; May 3 - Netherlands, Zandvoort; May 20 - Spain, Barcelona; May 24 - Monaco, Monaco; June 7 - Azerbaijan, Baku; June 14 - Canada, Montreal; June 28 - France, Le Castellet; July 5 - Austria, Spielberg; July 19 - Great Britain, Silverstone; August 2 - Hungary, Budapest; August 30 - Belgium, Spa; September 6 - Italy, Monza; September 20 - Singapore, Singapore; September 27 - Russia, Sochi; October 11 - Japan, Suzuka; October 25 - United States, Austin; November 1 - Mexico City, Mexico City; November 15 - Brazil, Sao Paulo; November 29 - Abu Dhabi, Abu Dhabi.
Scoreline
Syria 1-1 Australia
Syria Al Somah 85'
Australia Kruse 40'
Our legal consultants
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.