“Cheers, Son’s crying” go the memes, but this time the chances are he’d welcome them.
Son Heung-min was in tears on the turf, a crumpled, heaving puddle right in the middle of the Education City Stadium pitch. His mask, to protect the facial fractures he’d suffered while playing for his club last month – last month – had been discarded, yet he’d still provided a superhero’s touch.
On Friday, Son created South Korea’s winner against Portugal, setting off from deep in his own half in the 91st minute and setting Hwang Hee-chan on his way to steal it. South Korea, perennial World Cup participants, were in the knockout stages for the first time in 12 years.
There’d been tears the night before, too. In the stands, as that one Japan fan was captured on camera when probably millions more were just as overcome. Japan had proven lightening can strike twice: at the same Khalifa International Stadium where they upset Germany on Group E opening day, Hajime Moriyasu’s side stunned Spain.
Having lost to Costa Rica on Sunday, on Thursday Japan concluded their four-team pool at the summit. Above Spain, the 2010 champions and steamrollers of Costa Rica; above Germany, four-time World Cup winners and runners-up as recently as 2014. Even if the Germans have now failed to emerge from the initial phase for a second successive finals.
While Germany aren’t there, Australia are. Graham Arnold’s men rebounded from a hefty opening-day defeat to France to see off Tunisia and, then on Wednesday when it was needed most, Denmark, those oft-touted dark horses.
Mathew Leckie’s sublime solo goal was reward for a titanic team effort. Not just in coming back from France, but in getting to Qatar in the first place. When it comes to the national team, Australia felt the pinch of the pandemic more than most: only four of their ultimately 20 qualifiers – they had to negotiate the inter-continental play-off – took place at home.
Lockdowns, Arnold said, have helped unite the squad. It can seem an overwrought take at times, but in Qatar, Australia have again displayed their doggedness, their determination, their never-say-die attitude. It will be needed on Saturday, when they face Argentina in the country’s first World Cup knockout clash in 16 years.
So, for the first time in the history of the global finals, three countries from the Asian Football Confederation (AFC) have made it to the last 16. Japan meet Croatia on Monday; a few hours later, South Korea go up against Brazil.
Perhaps the AFC’s success should have been somewhat expected, what with a record six representatives at the tournament (Saudi Arabia and Iran supplied standout moments, in respective victories against Argentina and Wales, but hosts Qatar disappointed).
But Qatar 2022 has provided a more globally balanced knockouts overall. In Russia four years ago, 14 of the last-16 slots were made up of European and South American sides. Asia and Africa? One. Combined. In Brazil, 11 of the 16 places went to the perceived powerhouse confederations; the same in 2010, then 13 in 2006.
Asia was represented by a solitary team last time and none in 2014. Africa, meanwhile, none four years ago. Now, there are five sides from those two continents still there, still believing, still in with a chance of another upset in a World Cup full of them.
Since Fifa introduced the Round of 16 in 1986, there has never been fewer Uefa or Conmebol team represented at that stage. Maybe the winter World Cup, squeezed into the domestic season of the top leagues, has had an effect.
But the spread of success this time around is welcome. Son and South Korea, Japan, Australia, Morocco and Senegal have made the tournament all the richer for their last-16 runs.
Tips for SMEs to cope
- Adapt your business model. Make changes that are future-proof to the new normal
- Make sure you have an online presence
- Open communication with suppliers, especially if they are international. Look for local suppliers to avoid delivery delays
- Open communication with customers to see how they are coping and be flexible about extending terms, etc
Courtesy: Craig Moore, founder and CEO of Beehive, which provides term finance and working capital finance to SMEs. Only SMEs that have been trading for two years are eligible for funding from Beehive.
'The Batman'
Stars:Robert Pattinson
Director:Matt Reeves
Rating: 5/5
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
Lexus LX700h specs
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Asian Cup 2019
Quarter-final
UAE v Australia, Friday, 8pm, Hazza bin Zayed Stadium, Al Ain
The specs
Engine: 1.5-litre turbo
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Torque: 230Nm
Transmission: 6-speed automatic
Starting price: Dh79,000
On sale: Now