As India undergoes its second – and much deadlier – wave of coronavirus, a number of regional companies in the Middle East have stepped forward to lend a helping hand. Here's a look at some initiatives that are currently happening that are all about helping the country, while calling for more support from other establishments.
Talabat
The food delivery giant has created #IftarForIndia, an initiative to help communities affected by the Covid-19 pandemic in India.
As part of the initiative, for every food order placed between 5pm to 8pm on Sunday, the organisation will donate the value of the meal to the World Food Programme which will go to helping India's coronavirus relief efforts. It is part of Talabat's #AlwaysThere campaign.
Tomaso Rodriguez, chief executive of Talabat, said that while the campaign was initially designed to support communities in the Mena region during Ramadan, it is "adaptable to different pressing needs."
“When you look at the sheer volume of Covid cases in the last week in India, the situation is heartbreaking. In the Mena region, we have a large, thriving Indian population, especially in many of the markets we operate in," he said.
"We want our Indian community, our restaurant partners, our customers, our colleagues, and our riders to know that we are truly with them."
He has also called on other organisations to give what they can to help India.
Careem and Hala
UAE companies Careem and Hala have joined forces to aid in India's Covid relief efforts. Starting Sunday, and continuing for the next two weeks, for every Careem or Hala ride and every Careem food order in the UAE, the companies will donate Dh1 to Unicef's efforts to bring oxygen and rapid PCR tests to people in need in India.
"There are incredibly strong ties between India and the UAE and as India faces a Covid crisis, people in our community want to help. Careem is trying to do its part by donating for every ride and every food order, leveraging our technology to support Unicef's lifesaving efforts," said Ibrahim Manna, Careem's managing director of Markets.
Jacky’s Electronics
The scale of Covid-19 cases in India has led UAE electronics retailer, Jacky's Electronics, to launch a direct-to-home delivery server of oxygen concentrators to India.
Owner Ashish Panjabi told The National that although this is a product that they don't normally sell, when demand for it began increasing, they decided to mobilise because "people need them desperately".
UAE residents can now put in online requests to gift oxygen concentrators to people in India with door-to-door delivery available through the company, which ships them from Hong Kong.
On Thursday, Panjabi expressed disappointment about India's Goods and Service (GST) tax on oxygen concentrator shipments, saying the company will be absorbing the GST amount for shipments.
Danube Home
The furniture company under Danube Group in Dubai, has announced that they will be donating 10 per cent of profits from its Dubai store sales in the month of May to Covid-19 relief efforts in India.
The initiative will be handled by the Danube Home Foundation, with the company primarily donating to oxygen provider agencies as well as NGOs around Mumbai, the city chairman Rizwan Sajan is from. Some institutions that have already been identified for the donation are Popular Front of India Maharashtra, Rotary India and Kalsekar Hospital.
“Given the severity of the devastating pandemic in India, it’s our responsibility to make efforts towards helping the needy and the sufferers across India,” said Adel Sajan, group managing director of Danube Group. “It is very much required for all organisations to come forward in every possible way to ensure that our citizens have seamless access to the healthcare services, oxygen and other necessary requirements which can save precious lives.”
UK's plans to cut net migration
Under the UK government’s proposals, migrants will have to spend 10 years in the UK before being able to apply for citizenship.
Skilled worker visas will require a university degree, and there will be tighter restrictions on recruitment for jobs with skills shortages.
But what are described as "high-contributing" individuals such as doctors and nurses could be fast-tracked through the system.
Language requirements will be increased for all immigration routes to ensure a higher level of English.
Rules will also be laid out for adult dependants, meaning they will have to demonstrate a basic understanding of the language.
The plans also call for stricter tests for colleges and universities offering places to foreign students and a reduction in the time graduates can remain in the UK after their studies from two years to 18 months.
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
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
Company profile
Company: Rent Your Wardrobe
Date started: May 2021
Founder: Mamta Arora
Based: Dubai
Sector: Clothes rental subscription
Stage: Bootstrapped, self-funded
MATCH INFO
Newcastle United 1 (Carroll 82')
Leicester City 2 (Maddison 55', Tielemans 72')
Man of the match James Maddison (Leicester)
Tips%20for%20travelling%20while%20needing%20dialysis
%3Cul%3E%0A%3Cli%3EInform%20your%20doctor%20about%20your%20plans.%C2%A0%3C%2Fli%3E%0A%3Cli%3EAsk%20about%20your%20treatment%20so%20you%20know%20how%20it%20works.%C2%A0%3C%2Fli%3E%0A%3Cli%3EPay%20attention%20to%20your%20health%20if%20you%20travel%20to%20a%20hot%20destination.%C2%A0%3C%2Fli%3E%0A%3Cli%3EPlan%20your%20trip%20well.%C2%A0%3C%2Fli%3E%0A%3C%2Ful%3E%0A
Virtuzone GCC Sixes
Date and venue Friday and Saturday, ICC Academy, Dubai Sports City
Time Matches start at 9am
Groups
A Blighty Ducks, Darjeeling Colts, Darjeeling Social, Dubai Wombats; B Darjeeling Veterans, Kuwait Casuals, Loose Cannons, Savannah Lions; C Awali Taverners, Darjeeling, Dromedary, Darjeeling Good Eggs
What is a robo-adviser?
Robo-advisers use an online sign-up process to gauge an investor’s risk tolerance by feeding information such as their age, income, saving goals and investment history into an algorithm, which then assigns them an investment portfolio, ranging from more conservative to higher risk ones.
These portfolios are made up of exchange traded funds (ETFs) with exposure to indices such as US and global equities, fixed-income products like bonds, though exposure to real estate, commodity ETFs or gold is also possible.
Investing in ETFs allows robo-advisers to offer fees far lower than traditional investments, such as actively managed mutual funds bought through a bank or broker. Investors can buy ETFs directly via a brokerage, but with robo-advisers they benefit from investment portfolios matched to their risk tolerance as well as being user friendly.
Many robo-advisers charge what are called wrap fees, meaning there are no additional fees such as subscription or withdrawal fees, success fees or fees for rebalancing.
More from Neighbourhood Watch
