Egyptian President Abdel Fattah El Sisi. Photo: Presidential handout
Egyptian President Abdel Fattah El Sisi. Photo: Presidential handout
Egyptian President Abdel Fattah El Sisi. Photo: Presidential handout
Egyptian President Abdel Fattah El Sisi. Photo: Presidential handout

Egypt frees three journalists from pre-trial detention


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The Egyptian journalists Ammer Abdel-Moneim, Hany Greisha and Essam Abdeen were freed from pretrial detention on Sunday.

Their release was announced by Diaa Rashwan, the head of the country’s Journalists’ Union, who shared a photo of himself with the trio.

The men were held for about 18 months in different cases involving the misuse of social media and joining a terrorist group, a reference to the now-banned Muslim Brotherhood.

They have been released pending the completion of the investigation and could still be tried in court.

Last week, authorities released 41 prisoners, including several prominent writers and activists, from pretrial detention.

Last week, Egyptian President Abdel Fattah El Sisi announced the launch of a national “dialogue” about the country's future.

No start date has been set for the process, and its terms of reference and aim were not revealed.

It was widely interpreted to be an attempt by the Egyptian leader to reach out to critics at a time when the country is gripped by an acute economic crisis caused by the Russia-Ukraine war.

The president has also resurrected a presidential committee that reviews cases of pretrial detention. It was created in 2016 but had been dormant until the past two to three years.

On Thursday, the government freed a prominent political activist, Hossam Monis, after he was pardoned by Mr El Sisi. Monis had been serving a four-year sentence for terrorism offences.

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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

Updated: May 01, 2022, 4:28 PM