Pope Francis prays for World Cup in Qatar to be occasion for peace

Pope Francis gave the Fifa World Cup a shout-out on Wednesday and prayed for the Qatar tournament to be an occasion for harmony and peace in the world.

Francis is a life-long football fan and has long pushed sport as a way of promoting solidarity and fraternity.

Speaking at the end of his weekly Wednesday general audience, the Pope sent greetings to World Cup players, fans and spectators watching from afar.

“May this important event be an occasion for meeting and harmony for nations, favouring brotherhood and peace among peoples. Let’s pray for peace in the world, and the end of all conflicts,” he said.

The 85-year-old Argentine is a card-holding fan of the Buenos Aires club San Lorenzo.

Coronavirus: Lessons in online learning from the experts

How Bahrain is leading from the front on coronavirus containment

Titan Sports Academy:

Programmes: Judo, wrestling, kick-boxing, muay thai, taekwondo and various summer camps

Location: Inside Abu Dhabi City Golf Club, Al Mushrif, Abu Dhabi, UAE

Telephone: 971 50 220 0326

The President's Cake

Director: Hasan Hadi

Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem

Rating: 4/5

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

Pope Francis prays for World Cup in Qatar to be occasion for peace

The pontiff, a lifelong football fan, calls for the event to be an 'occasion for meeting and harmony for nations'

Related

The President's Cake

Ten tax points to be aware of in 2026

While you're here

On Women's Day