Business

Recharge your car as you sleep

With cars parked for most of their lives, charging them up during that period, especially overnight, would optimise efficiency, according to a process known as "valley filling".

Tom Ashby and Clifford Coonan

September 13, 2010

  • English
  • Arabic

TIANJIN// Electric vehicles are the darling of the renewables sector. All of the major car makers are now at work on developing these vehicles to feed the growing demand for sustainable transport. Silent, energy-efficient cars are seen as being a major factor in the way smart grids optimise energy networks. With cars parked for most of their lives, charging them up during that period, especially overnight, would optimise efficiency, according to a process known as "valley filling".

"The amount of electricity required by a vehicle over the course of the year is equal to the average amount of electricity taken by the average home," said Tom Casey, the chief executive of Current Group, a developer of smart grid technology. In April, General Electric (GE) and Nissan announced a link-up to research the effects of electric vehicles on the power grid and technology for smart charging.

GE has also introduced a car charger, the WattStation, which can decrease electric vehicle charging time by between 12 and 18 hours to between four and eight hours. Google has also developed smart-charging software, with algorithms monitoring electricity supply and controlling when cars get charged. "If you're an electric company and you suddenly have a lot of electric vehicles coming into your territory, it's like all of a sudden you have millions of new homes built but you don't have any new facilities, you don't have any new wires and you don't have any new transformers or new substations," said Mr Casey.

"If those cars plug in during the peak hour, where it's already stretched thin, that's a major problem and could threaten the stability of the grid. However if these cars plug in at night, when everyone's asleep and there are no electric devices working, then the power to serve them is almost free. This kind of management of how time is used becomes very important." The technology developments should also allow cars to send electricity stored in their batteries back into the grid when it is needed, transforming the family motor into a mini-power station.

Sheer grandeur

The Owo building is 14 storeys high, seven of which are below ground, with the 30,000 square feet of amenities located subterranean, including a 16-seat private cinema, seven lounges, a gym, games room, treatment suites and bicycle storage.

A clear distinction between the residences and the Raffles hotel with the amenities operated separately.

BUNDESLIGA FIXTURES

Saturday, May 16 (kick-offs UAE time)

Borussia Dortmund v Schalke (4.30pm) 
RB Leipzig v Freiburg (4.30pm) 
Hoffenheim v Hertha Berlin (4.30pm) 
Fortuna Dusseldorf v Paderborn  (4.30pm) 
Augsburg v Wolfsburg (4.30pm) 
Eintracht Frankfurt v Borussia Monchengladbach (7.30pm)

Sunday, May 17

Cologne v Mainz (4.30pm),
Union Berlin v Bayern Munich (7pm)

Monday, May 18

Werder Bremen v Bayer Leverkusen (9.30pm)

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

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Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

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