IF YOU COULD WAKE UP ANYWHERE TOMORROW WHERE WOULD you BE?
Cape Town. Or, more specifically, Clifton 3. I try and get there at least twice a year over Christmas and Easter. The sun and the light are spectacular – you have Table Mountain behind you, and in front of you is a beautiful view overlooking the water. I am always happiest there.
WHERE’S THE BEST SERVICE THAT YOU’VE EVER ENCOUNTERED?
The boutique hotel Upper House in Hong Kong. The Asian sensibility to service is something Europeans don’t really grasp. From the minute you walk in, every person in the hotel knows your name. They know what you like to drink and what you will have for breakfast. Nothing can beat that.
YOU’RE SITTING DOWN TO THE PERFECT DINNER. WHERE ARE YOU, WHO ARE YOU WITH AND WHAT ARE YOU EATING?
In Sicily, on a beautiful terrace overlooking the water with my closest friends from around the world. Growing up all over, it is often hard to get everyone together in one place. We would start with a selection of antipasti, move on to a pasta dish such as spaghetti vongole, followed by the finest of steaks.
WHAT WAS YOUR FIRST LUXURY PURCHASE?
hen living in Paris with my parents, I used all of my graduation money to buy a set of limited-edition, contemporary Limoges porcelain plates by an artist called Pisa. Around the same time I went to Hamburg and invested in a Jil Sander jacket. It was my first big purchase and I had it forever; in fact I only gave it to charity a few months ago.
WHERE WOULD YOU BUILD YOUR DREAM HOUSE AND WHAT WOULD IT LOOK LIKE?
My dream is to live in an elevated square house made out of glass somewhere in Italy by the water, but I’ll have to sell a few more cufflinks first. I really hate mess, so it would be completely minimalist. It would be made in stark clean lines, with the addition of white marble and maybe wood.
WHAT MADE YOU DECIDE TO ENTER THE WORLD OF DESIGN?
It became clear to me at 27 that I didn’t want to spend my life reporting to someone else. I wanted to combine the two things I loved the most: travel and design, and I wanted to be my own boss. I started in the clothing industry, importing very expensive, handwoven silks that were used by the Thai royal family and making beautiful waistcoats and jackets from them.
WHO ARE YOUR FAVOURITE DESIGNERS?
I always had great admiration for the late Alexander McQueen – what he was producing was genius. Within the jewellery world, I think Caroline Scheufele, the artistic director at Chopard, is doing something particularly interesting.
WHAT DO YOU COLLECT?
I have an eccentric collection of Natsume lacquerware – what the Japanese use in their tea ceremonies. I now have nearly 50 pieces all painted with maki-e gold. I buy one every time I go to Japan. It is purely for pleasure.
ktrotter@thenational.ae
Roger Federer's 2018 record
Australian Open Champion
Rotterdam Champion
Indian Wells Runner-up
Miami Second round
Stuttgart Champion
Halle Runner-up
Wimbledon Quarter-finals
Cincinnati Runner-up
US Open Fourth round
Shanghai Semi-finals
Basel Champion
Paris Masters Semi-finals
Company%20profile
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Company%20profile
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Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
Match info
Australia 580
Pakistan 240 and 335
Result: Australia win by an innings and five runs
Honeymoonish
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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
Quick pearls of wisdom
Focus on gratitude: And do so deeply, he says. “Think of one to three things a day that you’re grateful for. It needs to be specific, too, don’t just say ‘air.’ Really think about it. If you’re grateful for, say, what your parents have done for you, that will motivate you to do more for the world.”
Know how to fight: Shetty married his wife, Radhi, three years ago (he met her in a meditation class before he went off and became a monk). He says they’ve had to learn to respect each other’s “fighting styles” – he’s a talk it-out-immediately person, while she needs space to think. “When you’re having an argument, remember, it’s not you against each other. It’s both of you against the problem. When you win, they lose. If you’re on a team you have to win together.”
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
