Live updates: Follow the latest on Donald Trump’s inauguration
In a surreal moment, the leaders of what some might describe as the six families of Big Tech put aside their business rivalries and political differences to join President Donald Trump for a church service right before his inauguration.
Tesla co-founder Elon Musk, Meta head Mark Zuckerberg, Apple chief executive Tim Cook, TikTok chief Shou Zi Chew, Google's chief Sundar Pichai and Amazon founder Jeff Bezos all joined Mr Trump at St John’s Episcopal Church near the White House.
It was an interesting venue for all the technology entrepreneurs to be seen. Silicon Valley, the place that gave birth to the powerhouse technology companies, is known for being secular, so the religious backdrop was a juxtaposition for the ages and yet a validating moment for the entire industry. Many of the technology titans also appeared in the US Capitol building during Mr Trump's inauguration.
The appearance of TikTok's chief executive in Washington comes after more than a year of criticism from both Democrats and Republicans over the company's alleged connections to the Chinese Communist Party, which some say make it a threat to national security. For Mr Zuckerberg, his appearance at the Trump inauguration comes weeks after Meta controversially moved away from fact-checkers and months after the Facebook founder publicly criticised former US President Joe Biden.
For Tesla and X chief executive Mr Musk, the moment comes after an almost two-year journey during which the entrepreneur has increasingly espoused conservative positions.
As for Apple chief executive Mr Cook, during Mr Trump's first term in office, he reached out to employees to reassure them about the company's values. He later joined a White House panel during Mr Trump's first term on US job creation. This time around, several media reports indicated that Mr Cook personally donated to Mr Trump's inauguration funds.
Other companies, like Microsoft, Meta and OpenAI, also made donations. Meanwhile, for Amazon founder Mr Bezos, his newspaper The Washington Post is facing a backlash after it refused to endorse Kamala Harris, in a move critics said was to try to curry favour with Mr Trump.
For Silicon Valley, however, the presence of so many technology chief executives is sure to be viewed as a culmination of decades of work that came to fruition with unprecedented influence within a superpower, for better or worse.
“Technology companies must take a crash course in 'spoken Maga' [Make America Great Again],” said Sam Blatteis, chief executive of The Mena Catalysts, a market entry firm for Web3 multinationals, who spoke with The National before the inauguration about the influence of technology companies in Washington. “It is a special language – different than how they communicated with the Biden White House.”
“The rise of Trump means the power gap is closing in Washington, and the ideological gap is widening with many far-flung parts of the tech epicentres of power,” he said, referring to the many efforts from technology leaders to try to curry favour in Washington.
Yet as President Trump continues to try to fill government positions, Mr Blatteis said those same technology leaders may have to continue adjusting their approach. “As Trump appoints an armada of new policymakers to run key tech-related agencies, who is running them, and how much real influence they have, is hard to pin down. It’s about quietly having the right conversations to ensure the right context is being understood by the key people reporting on the issue.”
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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 Takalam
Date started: early 2020
Founders: Khawla Hammad and Inas Abu Shashieh
Based: Abu Dhabi
Sector: HealthTech and wellness
Number of staff: 4
Funding to date: Bootstrapped
If you go...
Fly from Dubai or Abu Dhabi to Chiang Mai in Thailand, via Bangkok, before taking a five-hour bus ride across the Laos border to Huay Xai. The land border crossing at Huay Xai is a well-trodden route, meaning entry is swift, though travellers should be aware of visa requirements for both countries.
Flights from Dubai start at Dh4,000 return with Emirates, while Etihad flights from Abu Dhabi start at Dh2,000. Local buses can be booked in Chiang Mai from around Dh50
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