The Al Hamra Village Spring Food Festival in Ras Al Khaimah is Friday, March 20 from 5pm to 10pm. Courtesy Al Hamra Spring Food Festival
The Al Hamra Village Spring Food Festival in Ras Al Khaimah is Friday, March 20 from 5pm to 10pm. Courtesy Al Hamra Spring Food Festival
The Al Hamra Village Spring Food Festival in Ras Al Khaimah is Friday, March 20 from 5pm to 10pm. Courtesy Al Hamra Spring Food Festival
The Al Hamra Village Spring Food Festival in Ras Al Khaimah is Friday, March 20 from 5pm to 10pm. Courtesy Al Hamra Spring Food Festival

Two spring food festivals will welcome spring on Friday, March 20


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Two festivals are serving up food and entertainment to welcome the arrival of spring.

The Swiss Spring Festival in Abu Dhabi will be held at the Hilton Abu Dhabi’s gardens on the Corniche. Organised by the Swiss Business Council of the Emirate of Abu Dhabi, the celebration will feature an array of Swiss food specialities, including raclette (a Swiss cheese dish), the original St Galler kalbsbratwurst (a famous veal sausage from Switzerland) and Rivella — a soda-like beverage that includes milk whey with fruit and herbal extracts. The drink is popular in Switzerland, though largely unknown in the rest of the world. The kalbsbratwurst and Rivella have both been flown into the UAE exclusively for the festival.

The celebration will include live music and entertainment for kids complete with face painting and a bouncy castle. A raffle draw will give guests the chance to win a variety of prizes including an Etihad business class flight to Zurich and six nights in top Swiss hotels. That prize also includes a transfer ride from the airport in Zurich in a Bentley Continental GTC.

The Swiss Spring Festival is from 5-10pm on Friday, March 20. Tickets, which can be purchased at the door, are Dh200 for Swiss Business Council members and for Dh260 for non-members. Children ages six to 12 are Dh100 and there’s free entry for those under age six. Prices include all food and soft drinks.

If you’re closer to Ras Al Khaimah, don’t miss the Al Hamra Spring Food Festival at the Al Hamra Marina Boardwalk. The event will feature pop up restaurants, live cookery stations and music. There will an array of food and retail vendors on hand offering flavours from around the world. Some of the participating restaurants include Shake Shack, Red Star Wok and Pesto Ristorante. There will be Emirati dishes and Indian street food on offer too. The festival will also feature entertainment by Ras Al Khaimah Academy students, Emirati culture groups and performances from a mix of dance groups, including Arabian, Bollywood, street and ballet styles. The festival will be held tomorrow (Friday, Mach 20) from 5pm to 10pm. For more information, email events@alhamravillage.com or call 07 243 2274.

sjohnson@thenational.ae

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UAE 112 (19.2 overs)

Jersey win by 35 runs

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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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Financing stage: Seed round ($12 million)

Investors: B&Y, Phoenician Funds, M1 Group, Shorooq Partners

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