With its lush landscape, distinctive trees, unique animals and turquoise waters home to dolphins, Yemen is hoping its Socotra archipelago will become a dream destination despite the country's nightmarish conflict.
Lying in the Indian Ocean 200 kilometres off the Yemeni coast, the four islands and two rocky islets are home to 50,000 people and have remained relatively untouched by the war that has devastated the mainland.
While most of Yemen is embroiled in a conflict that erupted in 2015 between Houthi rebels and the government – plus the ravages of the coronavirus pandemic – adventurous travellers are showing a growing interest in visiting Socotra.
Many set off from the UAE, which is close to the authorities that control the islands.
"Fortunately, Socotra has never been affected by the war dynamics of the Yemeni mainland," local travel agency Welcome to Socotra told AFP.
"No tensions or fights have ever been reported, hence there is no reason for tourists to worry."
Since flights resumed with a chartered Air Arabia aircraft once a week from Abu Dhabi, the agency has received "hundreds" of requests, it said.
Yemen, already the poorest country on the Arabian Peninsula even before the war, has for years been trying to develop the archipelago into a hub for ecotourism.
Despite the reassuring words and the lure of the pure white beaches, Socotra hit the headlines in June 2020 when the Southern Transitional Council seized it from the government.
The two sides have since established a power-sharing deal brokered by Saudi Arabia, substantially dialling down tensions in the south.
Socotra is located just 250 kilometres from the Horn of Africa, and 1,000 kilometres from the southern city of Aden where Yemen's government is based.
It is famed for its unique biodiversity: nearly one-third of its 825 plants and 90 per cent of its reptile species are considered unique to the island, according to the UN's cultural agency Unesco.
The unique and spectacular vegetation, such as the Dragon's Blood Tree with its distinctive umbrella-shaped canopy and red sap, has earned it a listing as a World Heritage Site.
"Socotra is of particular importance to the Horn of Africa's biodiversity hotspot," Unesco says on its website.
"As one of the most biodiversity-rich and distinct islands in the world, [it] has been termed the 'Galapagos of the Indian Ocean'."
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
Ain Dubai in numbers
126: The length in metres of the legs supporting the structure
1 football pitch: The length of each permanent spoke is longer than a professional soccer pitch
16 A380 Airbuses: The equivalent weight of the wheel rim.
9,000 tonnes: The amount of steel used to construct the project.
5 tonnes: The weight of each permanent spoke that is holding the wheel rim in place
192: The amount of cable wires used to create the wheel. They measure a distance of 2,4000km in total, the equivalent of the distance between Dubai and Cairo.
Winners
Ballon d’Or (Men’s)
Ousmane Dembélé (Paris Saint-Germain / France)
Ballon d’Or Féminin (Women’s)
Aitana Bonmatí (Barcelona / Spain)
Kopa Trophy (Best player under 21 – Men’s)
Lamine Yamal (Barcelona / Spain)
Best Young Women’s Player
Vicky López (Barcelona / Spain)
Yashin Trophy (Best Goalkeeper – Men’s)
Gianluigi Donnarumma (Paris Saint-Germain and Manchester City / Italy)
Best Women’s Goalkeeper
Hannah Hampton (England / Aston Villa and Chelsea)
Men’s Coach of the Year
Luis Enrique (Paris Saint-Germain)
Women’s Coach of the Year
Sarina Wiegman (England)
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