A tale with teeth


  • English
  • Arabic

Eight years ago, my childhood friends Shorty and Ingar decided that Ras al Khaimah was a boring place. At some point, the 15-year-old boys decided that the only solution to their teenage monotony was on sale at Fish Oasis: a baby crocodile. The boys saved their pocket money for a few months and when they had finally collected Dh200 they marched into Fish Oasis and came out with a 40cm Nile crocodile. No questions asked.

Knowing that their parents would disapprove, Shorty and Ingar decided to keep the crocodile on Shorty's roof. Their parents would never know. Each morning we waited in the schoolyard to hear news of the crocodile. We had placed bets on when Shorty's mother would find the croc, how she'd react and how many weeks Shorty would be grounded for. If Shorty's father found the croc, we knew we might never see him again.

The discovery never came. The crocodile, thinking that the roof was a boring place, disappeared. We assumed it fled down the drain pipe and wandered the backstreets of Khuzam, living off leftover Hot Breads croissants and scraps of shawarma from the Khuzam market. A few months later, we heard that the police pulled a crocodile from the mangroves. Ingar didn't say much. "Maybe it was somebody else's crocodile," said Shorty. "What? It's possible."

The man-eating crocodile of the RAK mangroves became a piece of Ras al Khaimah lore. As years passed, its legend was overshadowed by the escaped six-foot pet iguana known as the Dragon of Muntasir Street, rumoured to be a man-eating beast that ate cats and stray toddlers. In fact, the vegetarian iguana preferred a diet of red hibiscus flowers. The lizard had also escaped from a rooftop abode. After falling two storeys to the ground unharmed, it walked three kilometres to Muntasir Street, earning its new moniker and terrifying neighbours who didn't know of its predilection for hibiscus.

The crocodile was forgotten. Or so I thought. Eight years passed. Last week, I stepped into a government office and saw a small stuffed crocodile balanced ferociously on a director's desk. "Nice croc," I said. "Where's it from?" "Ras al Khaimah!" boomed the office director. "It's a Ras al Khaimah crocodile! No, really! Would you believe we found this in the mangroves here a few years ago?" Would I ever.

The specs: Fenyr SuperSport

Price, base: Dh5.1 million

Engine: 3.8-litre twin-turbo flat-six

Transmission: Seven-speed automatic

Power: 800hp @ 7,100pm

Torque: 980Nm @ 4,000rpm

Fuel economy, combined: 13.5L / 100km

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The Library: A Catalogue of Wonders
Stuart Kells, Counterpoint Press

Electric scooters: some rules to remember
  • Riders must be 14-years-old or over
  • Wear a protective helmet
  • Park the electric scooter in designated parking lots (if any)
  • Do not leave electric scooter in locations that obstruct traffic or pedestrians
  • Solo riders only, no passengers allowed
  • Do not drive outside designated lanes
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

 

Rock in a Hard Place: Music and Mayhem in the Middle East
Orlando Crowcroft
Zed Books

MATCH INFO

Newcastle United 1 (Carroll 82')

Leicester City 2 (Maddison 55', Tielemans 72')

Man of the match James Maddison (Leicester)

What are the GCSE grade equivalents?
 
  • Grade 9 = above an A*
  • Grade 8 = between grades A* and A
  • Grade 7 = grade A
  • Grade 6 = just above a grade B
  • Grade 5 = between grades B and C
  • Grade 4 = grade C
  • Grade 3 = between grades D and E
  • Grade 2 = between grades E and F
  • Grade 1 = between grades F and G