Toyota has launched a chunky, budget-friendly SUV in the UAE called the Veloz.
This is an inexpensive, seven-seater vehicle that, upon first inspection, seems to make a fair attempt at juggling practicality and comfort with a few sporty elements to keep everyone inside amused.
Looks-wise, the Veloz has design cues that resemble the neat stylings of the RAV4, with a prominent high nose, trapezoid grille and stout front air intakes.
The new arrival is a lot bigger than its more well-established sibling though, particularly when it comes to the length of the vehicle. The Veloz’s bold exterior, which is available in a choice of six colours, is finished off with 17-inch aluminium wheels.
All very elegant, then, but the newbie also ticks all the boxes as a frugal choice for those with fuel consumption in mind. Power comes from a modest 1.5-litre 4-cylinder engine, which certainly shouldn’t see drivers sobbing every time they need to fill up.
Interior space was clearly a key consideration in the design of the Veloz. As noted, it is longer than the RAV4, which translates into extra room for driver and passengers alike.
The Veloz has three rows of seats as standard, with storage compartments scattered hither and thither.
Those who like a hot beverage or tube of chilli pop as they drive along won’t be disappointed as there are a dozen cup holders spread around the cabin.
Tech comes in the form of a 7-inch information display, an 8-inch multimedia screen and a wireless charging pad, as well as the usual USB ports.
The Veloz, which is in Toyota showrooms now, really comes into its own with its pricing, though.
A base model will set you back only Dh79,900, which puts it in direct competition with the most cost-effective vehicles on the market today.
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The specs: Rolls-Royce Cullinan
Price, base: Dh1 million (estimate)
Engine: 6.75-litre twin-turbo V12
Transmission: Eight-speed automatic
Power: 563hp @ 5,000rpm
Torque: 850Nm @ 1,600rpm
Fuel economy, combined: 15L / 100km
The specs: Aston Martin DB11 V8 vs Ferrari GTC4Lusso T
Price, base: Dh840,000; Dh120,000
Engine: 4.0L V8 twin-turbo; 3.9L V8 turbo
Transmission: Eight-speed automatic; seven-speed automatic
Power: 509hp @ 6,000rpm; 601hp @ 7,500rpm
Torque: 695Nm @ 2,000rpm; 760Nm @ 3,000rpm
Fuel economy, combined: 9.9L / 100km; 11.6L / 100km
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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
MATCH INFO
Champions League quarter-final, first leg
Tottenham Hotspur v Manchester City, Tuesday, 11pm (UAE)
Matches can be watched on BeIN Sports
The President's Cake
Director: Hasan Hadi
Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem
Rating: 4/5
