Daz Festival returns to Al Ain with art, music, games and more

Nature is the inspiration and theme for this year's Daz Festival, which has returned to Al Ain.

The 10-day event, which is taking place at Al Jahili Park until February 19, features a programme of entertainment such as live music, art installations and interactive games. There are also food trucks on-site, as well as a pop-up from Saint Aymes, a London cafe.

An art installation titled Pyramid Sphere by visual artist Cyril Lancelin makes its UAE debut at the festival. It features geometric shapes that expand to form pyramids. Visitors can go inside the sphere through a tunnel to view the outside world through it, but has no clear entrance or exit and is meant to engage visitors by questioning their built environment.

Cyril Lancelin's Pyramid Sphere at the Daz Festival. Photo: Daz Festival

There’s also Dazzle Haus, meant for those who are looking to take an Instagrammable photo or two. It has five rooms that features differing backdrops such as caves, sea plants, creatures and an underwater world — all tied to the event’s theme of nature. Organisers say that “each room in this space is inspired by the earth, setting the mood and vibe of your colourful, unexpected journey.”

There is also a jungle-themed escape room, as well as Versus, a collaborative virtual reality game that has players dive into the ancient Egyptian underworld and use archery skills to win. There is also the Daz Arcade that has pinball, foosball and pool tables.

Meanwhile, youngsters can visit the children’s wooden play park that has slides and swings. The Oasis Play Park is another artistic playground with interactive and colourful animal sculptures that double as slides, carousels and see-saws.

Tickets start at Dh25 online or Dh30 at the door. More information at www.dazfestival.ae

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Company profile

Name: Back to Games and Boardgame Space

Started: Back to Games (2015); Boardgame Space (Mark Azzam became co-founder in 2017)

Founder: Back to Games (Mr Azzam); Boardgame Space (Mr Azzam and Feras Al Bastaki)

Based: Dubai and Abu Dhabi

Industry: Back to Games (retail); Boardgame Space (wholesale and distribution)

Funding: Back to Games: self-funded by Mr Azzam with Dh1.3 million; Mr Azzam invested Dh250,000 in Boardgame Space

Growth: Back to Games: from 300 products in 2015 to 7,000 in 2019; Boardgame Space: from 34 games in 2017 to 3,500 in 2019

UAE - India ties

The UAE is India’s third-largest trade partner after the US and China

Annual bilateral trade between India and the UAE has crossed US$ 60 billion

The UAE is the fourth-largest exporter of crude oil for India

Indians comprise the largest community with 3.3 million residents in the UAE

Indian Prime Minister Narendra Modi first visited the UAE in August 2015

His visit on August 23-24 will be the third in four years

Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, visited India in February 2016

Sheikh Mohamed was the chief guest at India’s Republic Day celebrations in January 2017

Modi will visit Bahrain on August 24-25

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