The past frequently collides with the present in Cairo, with traffic snarling past ancient sites.
Cars in the city can take a beating – between soaring temperatures, insidious desert dust and the crowded streets.
Classic models are not uncommon, but they often languish in dusty alleys or hidden in garages. One man, however, has decided to try to preserve a slice of Egypt’s four-wheeled history.
Car collector Mohamed Wahdan says he has accumulated more than 250 vintage, antique and classic cars. Most of them he discovered in the country.
A fleet of this size would rank him among the world’s top classic car collectors. Experts classify vehicles as vintage, antique or classic depending on their year of production.
Mr Wahdan, 52, runs a tourist company taking visitors to Egypt’s famous landmarks. But he is devoted to his hobby. He owns several garages to keep all of them, and employs a full-time team of mechanics for maintenance.
He says one of the challenges is in getting the cars licence plates. Government employees are often unsure how to classify them.
Mr Wahdan’s oldest car, a 1924 Model T Ford that belonged to Egypt’s last monarch, King Farouk, is a museum piece, complete with a velvet rope to mark its parking place in his garage.
The country’s layered history makes it a treasure trove for antiques. Egypt, a former British protectorate, was a destination for Europeans in the late 19th century and the first half of the 20th century. Italian, Greek and Jewish communities once flourished in Cairo and the Mediterranean city of Alexandria. Its historic markets, or souqs, sell many reminders of times gone by, a mix of replicas and the real thing.
Mr Wahdan has collected many of them. Rotary-dial telephones, gramophones, and old newspapers and stamps also fascinate him.
Recently, his cars made a name for themselves, with one appearing in a TV series set in the 1930s. He has noticed that interest in car collecting is growing among Egyptians, as more flock to classic car shows where his vehicles are displayed.
One of his dearest items is his first purchase, a 1970s Mercedes. Like his other cars, he does not drive it often. But he says he would never sell any of his collection.
“Anyone who is passionate about those cars is unable to do without them,” he said.
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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