• Bikers at a festival organised by the Benghazi Motorcycle Club, in the eastern city of Benghazi, Libya. All photos: AFP
    Bikers at a festival organised by the Benghazi Motorcycle Club, in the eastern city of Benghazi, Libya. All photos: AFP
  • Libyan bikers admire motorcycles in Benghazi.
    Libyan bikers admire motorcycles in Benghazi.
  • A rally in Libya organised by the Benghazi Motorcycle Club.
    A rally in Libya organised by the Benghazi Motorcycle Club.
  • A street cat scrounges food off a biker at a motorcycle rally in Benghazi.
    A street cat scrounges food off a biker at a motorcycle rally in Benghazi.
  • Libyan bikers at the festival in Benghazi.
    Libyan bikers at the festival in Benghazi.
  • A Libyan biker takes part in a festival organized by the Benghazi Motorcycles Club, in the eastern city of Benghazi.
    A Libyan biker takes part in a festival organized by the Benghazi Motorcycles Club, in the eastern city of Benghazi.
  • Leathers? Any colour as long as it's black. Bikers at a rally in the Mediterranean port city of Benghazi.
    Leathers? Any colour as long as it's black. Bikers at a rally in the Mediterranean port city of Benghazi.
  • Benghazi Motorcycle Club has about 120 members, whose charity and other community work has changed locals' perception of the group as leather-clad criminals.
    Benghazi Motorcycle Club has about 120 members, whose charity and other community work has changed locals' perception of the group as leather-clad criminals.
  • During Ramadan, club members often distribute food to motorists running late for iftar, the evening meal when the faithful break their fast.
    During Ramadan, club members often distribute food to motorists running late for iftar, the evening meal when the faithful break their fast.

MENA

Bikers in Benghazi: Passion on show at motorcycle festival in Libya - in pictures

Members of the biking club gather in Benghazi

The National

March 16, 2022

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How to get there

Emirates (www.emirates.com) flies directly to Hanoi, Vietnam, with fares starting from around Dh2,725 return, while Etihad (www.etihad.com) fares cost about Dh2,213 return with a stop. Chuong is 25 kilometres south of Hanoi.
 

Mohamed bin Zayed Majlis
More from Neighbourhood Watch
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

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The biog

Year of birth: 1988

Place of birth: Baghdad

Education: PhD student and co-researcher at Greifswald University, Germany

Hobbies: Ping Pong, swimming, reading

 

 

Updated: March 16, 2022, 9:47 AM
PhotographyLibya