Etisalat's net profit rose to Dh2.4bn in the third quarter to September 30. Courtesy Etisalat
Etisalat's net profit rose to Dh2.4bn in the third quarter to September 30. Courtesy Etisalat
Etisalat's net profit rose to Dh2.4bn in the third quarter to September 30. Courtesy Etisalat
Etisalat's net profit rose to Dh2.4bn in the third quarter to September 30. Courtesy Etisalat

Technology

Etisalat appoints Hatem Dowidar as its new group CEO

Etisalat's previous CEO Saleh Al Abdooli left the company earlier this year

Alkesh Sharma
Alkesh Sharma

December 16, 2020

  • English
  • Arabic

Etisalat, the UAE's biggest telecoms company, appointed Hatem Dowidar as its new group chief executive, the company said.

In May, Mr Dowidar was appointed as acting group chief executive after Etisalat's long serving chief executive Saleh Al Abdooli stepped down for personal reasons.

Mr Dowidar joined Etisalat in September 2015, having previously worked as Vodafone Group's chief of staff in London. He became chief executive of Etisalat's international business in March 2016.

He initially joined Vodafone Egypt in 1999 as marketing director and became its chief executive in 2009.

Hatem Dowidar, group chief executive of Etisalat. Courtesy Etisalat
Hatem Dowidar, group chief executive of Etisalat. Courtesy Etisalat

"Mr Dowidar has a long track record of achievements in the various leadership positions he held at Vodafone Group and its subsidiaries … he brings 30 years of experience in multinational companies … more than 24 of these within the telecommunications industry," Etisalat said in a statement on the Abu Dhabi Securities Exchange, where its shares trade.

“He has extensive corporate governance experience from his representation as chairman and board member in several corporate boards within and outside the telecommunications industry.”

Mr Dowidar also sits on the boards of Etisalat's subsidiaries in Morocco, Egypt and Pakistan.

Etisalat, which is majority owned by the government, in October reported a 6 per cent year-on-year rise in third quarter net profit to Dh2.4 billion. Meanwhile, revenue rose marginally by 0.5 per cent to reach Dh13bn.

Its subscriber base in the UAE grew to 12.1 million during the period.

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

Who was Alfred Nobel?

The Nobel Prize was created by wealthy Swedish chemist and entrepreneur Alfred Nobel.

  • In his will he dictated that the bulk of his estate should be used to fund "prizes to those who, during the preceding year, have conferred the greatest benefit to humankind".
  • Nobel is best known as the inventor of dynamite, but also wrote poetry and drama and could speak Russian, French, English and German by the age of 17. The five original prize categories reflect the interests closest to his heart.
  • Nobel died in 1896 but it took until 1901, following a legal battle over his will, before the first prizes were awarded.

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