Designer Rolf Sachs transformed this limited-edition Smart, transforming it into a mobile work of art.
Designer Rolf Sachs transformed this limited-edition Smart, transforming it into a mobile work of art.
Designer Rolf Sachs transformed this limited-edition Smart, transforming it into a mobile work of art.
Designer Rolf Sachs transformed this limited-edition Smart, transforming it into a mobile work of art.

The car and the bed


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The week of the Salone del Mobile in Milan presents so many new and deeply desirable objects that it can be hard to know where to start. But this year the infamous cloud of Icelandic ash has made the choice easy. In a city already bursting at the seams (more than 300,000 visitors attend the Salone) finding a place to sleep for the extra nights became a major issue for many of us. As for escaping the city, within 12 hours of the first European airports shutting down, every rental car and every intercity train seat was booked. So: bed and car - without question the two most desirable objects in Italy at the end of last week.

Why this car? The designer Rolf Sachs, known for his witty and inventive approach to objects and materials, has done something of a Jackson Pollock on this limited-edition Smart, transforming it into a mobile work of art, which we saw cruising the streets of Zona Tortona throughout the week. "I like to add a twinkle in the eye and a smile on the face," he says. Just what we need for the long, slow road home.

And why this bed? Patricia Urquiola, a designer who rarely, if ever, puts a foot wrong, has combined her poetic and very feminine approach to design with the rigour and simplicity that characterises everything produced by Molteni (one of the greats of Italian furniture manufacturing). The lines are simply beautiful and the heavily textured fabric and "giant granny knitting" rug add a delicious coziness. This bed would be wonderful at any time - but never more so than when trudging the streets of Milan in desperate search of a hotel.

www.molteni.it and www.rolfsachs.com

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

PROFILE OF CURE.FIT

Started: July 2016

Founders: Mukesh Bansal and Ankit Nagori

Based: Bangalore, India

Sector: Health & wellness

Size: 500 employees

Investment: $250 million

Investors: Accel, Oaktree Capital (US); Chiratae Ventures, Epiq Capital, Innoven Capital, Kalaari Capital, Kotak Mahindra Bank, Piramal Group’s Anand Piramal, Pratithi Investment Trust, Ratan Tata (India); and Unilever Ventures (Unilever’s global venture capital arm)

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The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE. 

Read part four: an affection for classic cars lives on

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Read part two: how climate change drove the race for an alternative