Thursday, February 22, marks Saudi Arabia's Founding Day, a new annual holiday to commemorate the founding of the first Saudi state.
The holiday was established with a royal decree issued by King Salman in 2022 through the official Saudi Press Agency.
It said the holiday will commemorate the history of Saudi rule dating back hundreds of years.
It is a different event to Saudi National Day, which falls on September 23.
What does Founding Day commemorate?
Saudi Arabia’s new annual holiday commemorates the ascent to power of Mohammed bin Saud, who founded the First Saudi State.
In February 1727, he inherited leadership over the central Arabian town of Diriyah, which had been established by his ancestors in the 15th century.
He oversaw the expansion of Diriyah from a city-state to an emirate, conquering territories in central Arabia and uniting them under his family’s rule.
His dynasty became known as Al Saud, named after his father, Saud bin Mohammed Al Muqrin, who had ruled Diriyah from 1720, the date often cited as the founding of the dynasty.
Founding Day commemorates these origins and aims to highlight the important part Al Saud dynasty has played in the history of Arabia.
What was the First Saudi State?
Although Mohammed bin Saud came to power in Diriyah in 1727, the establishment of the First Saudi State is usually dated to 1744.
It was in this year that he allied with Mohammed bin Abdul Wahab, a religious scholar who led a movement that called for a return to the “true” version of Islam.
This alliance was at the heart of the First Saudi State, also known as the Emirate of Diriyah, the first of three Saudi states.
From Diriyah, the Al Saud dynasty quickly expanded to conquer much of the Arabian Peninsula, including the Hejaz region, home to the holy cities of Makkah and Madinah.
This expansion was seen as a threat by the Ottoman Empire, the region’s major power, which sought to restore its influence in Arabia.
After a seven-year war, Ottoman-allied forces led by Egypt’s Ibrahim Pasha defeated the Al Saud and destroyed Diriyah, bringing an end to the First Saudi State in 1818.
From the First Saudi State to the modern kingdom
Al Saud re-established their state six years later with a capital at Riyadh, close to Diriyah.
Throughout the 19th century, they competed with the Al Rashid dynasty for supremacy over central Arabia. Internal conflicts and military defeats eventually weakened the position of Al Saud, leading to the capture of Riyadh by the Al Rashid in 1891 and the end of the Second Saudi State.
Imam Abdulrahman Al Saud, who led Al Saud at the time, sought refuge with Bedouin in the deserts of the Empty Quarter before taking his family to Kuwait.
His son, Abdulaziz, recaptured Riyadh in 1902 in a raid, laying the foundations for the expansion of Saudi rule across Arabia. In 1932, Abdulaziz formalised his reign by establishing the Kingdom of Saudi Arabia, with himself as its first king.
His sons, including the current King Salman, have ruled the kingdom since.
How is Saudi Arabia’s National Day different from its Founding Day?
Saudi National Day is celebrated annually on September 23. It marks the 1932 decree, issued by King Abdulaziz, which renamed the Kingdom of Najd and the Hejaz as the Kingdom of Saudi Arabia.
The unification of the kingdom took place on the 21st of Jumada Al Ula in 1351 H – which corresponds to September 23, 1932.
Today, National Day is celebrated through fireworks displays, ceremonies and parades.
What will happen on Founding Day?
Events to show off traditional crafts, culture and heritage are planned across the kingdom.
Live music and dance performances are scheduled in cities including Riyadh, Jeddah and Dammam.
Festivities are expected to three days, with both public and private sectors given a long weekend until February 25.
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Results
6pm: Dubai Trophy – Conditions (TB) $100,000 (Turf) 1,200m
Winner: Silent Speech, William Buick (jockey), Charlie Appleby
(trainer)
6.35pm: Jumeirah Derby Trial – Conditions (TB) $60,000 (T)
1,800m
Winner: Island Falcon, Frankie Dettori, Saeed bin Suroor
7.10pm: UAE 2000 Guineas Trial – Conditions (TB) $60,000 (Dirt)
1,400m
Winner: Rawy, Mickael Barzalona, Salem bin Ghadayer
7.45pm: Al Rashidiya – Group 2 (TB) $180,000 (T) 1,800m
Winner: Desert Fire, Hector Crouch, Saeed bin Suroor
8.20pm: Al Fahidi Fort – Group 2 (TB) $180,000 (T) 1,400m
Winner: Naval Crown, William Buick, Charlie Appleby
8.55pm: Dubawi Stakes – Group 3 (TB) $150,000 (D) 1,200m
Winner: Al Tariq, Pat Dobbs, Doug Watsons
9.30pm: Aliyah – Rated Conditions (TB) $80,000 (D) 2,000m
Winner: Dubai Icon, Patrick Cosgrave, Saeed bin Suroor
LA LIGA FIXTURES
Friday Valladolid v Osasuna (Kick-off midnight UAE)
Saturday Valencia v Athletic Bilbao (5pm), Getafe v Sevilla (7.15pm), Huesca v Alaves (9.30pm), Real Madrid v Atletico Madrid (midnight)
Sunday Real Sociedad v Eibar (5pm), Real Betis v Villarreal (7.15pm), Elche v Granada (9.30pm), Barcelona v Levante (midnight)
Monday Celta Vigo v Cadiz (midnight)
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
THE BIO
Ms Al Ameri likes the variety of her job, and the daily environmental challenges she is presented with.
Regular contact with wildlife is the most appealing part of her role at the Environment Agency Abu Dhabi.
She loves to explore new destinations and lives by her motto of being a voice in the world, and not an echo.
She is the youngest of three children, and has a brother and sister.
Her favourite book, Moby Dick by Herman Melville helped inspire her towards a career exploring the natural world.
UAE Premiership
Results
Dubai Exiles 24-28 Jebel Ali Dragons
Abu Dhabi Harlequins 43-27 Dubai Hurricanes
Final
Abu Dhabi Harlequins v Jebel Ali Dragons, Friday, March 29, 5pm at The Sevens, Dubai
What is Reform?
Reform is a right-wing, populist party led by Nigel Farage, a former MEP who won a seat in the House of Commons last year at his eighth attempt and a prominent figure in the campaign for the UK to leave the European Union.
It was founded in 2018 and originally called the Brexit Party.
Many of its members previously belonged to UKIP or the mainstream Conservatives.
After Brexit took place, the party focused on the reformation of British democracy.
Former Tory deputy chairman Lee Anderson became its first MP after defecting in March 2024.
The party gained support from Elon Musk, and had hoped the tech billionaire would make a £100m donation. However, Mr Musk changed his mind and called for Mr Farage to step down as leader in a row involving the US tycoon's support for far-right figurehead Tommy Robinson who is in prison for contempt of court.