Along a snowy road in Switzerland is a tiny kiosk emblazoned with the words: Emirati hot chocolate.
The promise of a hot drink with a sprinkling of culture has been more than enough to entice delegates at the ongoing World Economic Forum in Davos, who are curious to grab a cup and try a bespoke version of the classic beverage, one that is made of ghawa, or traditional Emirati coffee.
The small, hot cups are being handed out for free from the bustling roadside cart next to the UAE Pavilion. Like the UAE itself, the arena is filled with people of different nationalities, wanting to have a sip.
“It’s been hugely popular,” Nawal Al Nuaimi, the chef behind the kiosk, tells The National. “We’re struggling to keep up with demand, to be honest.”
What is Emirati hot chocolate?
The hot drink is made with ghawa, or green unroasted coffee, flavoured with cardamom and saffron, and Swiss chocolate.
“We wanted to make a drink that is a perfect fusion of Emirati and Swiss culture,” says Al Nuaimi, who lives in Sharjah, though is currently in Davos.
“We wanted to have something uniquely Emirati, but at the same time celebrate our friends from Davos and Switzerland — so we’ve combined hot coffee from the desert with cold chocolate from the Alps.”
The chef drew inspiration from her passion for “finding new flavour pairings”. At the moment, Al Nuaimi's Emirati hot chocolate recipe is not available in the UAE, but it may soon find its way to Paper Fig, the restaurant she runs in Sharjah.
Al Nuaimi started out baking for friends and family, eventually growing it to a home business with two full-time drivers delivering cakes to her rising customer base.
“I realised it was time to open a restaurant, and so my husband and I did just that,” she says.
With a grant from the Khalifa Fund, the couple opened Paper Fig in Sharjah's Muwaileh area in 2015. The restaurant, which serves breakfast, lunch and dinner, as well as speciality coffee, has since grown from having seven employees to 70.
In crafting the menu, Al Nuaimi drew inspiration from her culinary heroes including French pastry chef and chocolatier Pierre Herme and celebrity master patissier Christophe Michalak.
Al Nuaimi has partnered with another UAE business, The Espresso Lab, to serve her Emirati hot chocolate in Davos.
And, so far, the team appear to found the recipe for success while sharing a touch of UAE culture in Davos.
The forum, which welcomes leaders from business and politics to discuss global issues, ends on Saturday.
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
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