Israeli leaders offer condolences to UAE on death of Sheikh Khalifa


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Israeli President Isaac Herzog shared his message of condolence to the UAE on Friday after the death of Sheikh Khalifa.

The UAE Ministry of Presidential Affairs announced the death of the President, Sheikh Khalifa, on Friday. He was 73.

The government has declared a 40-day mourning period for Sheikh Khalifa, who led the UAE after the death of the Founding Father, the late Sheikh Zayed bin Sultan Al Nahyan, in 2004.

Mr Herzog joined leaders from around the world in sharing his thoughts with the people and leadership of the UAE.

“On behalf of the people of Israel I send my deepest condolences to my friend Sheikh Mohamed bin Zayed and his family on the death of Sheikh Khalifa bin Zayed Al Nahyan, President of the UAE,” Mr Herzog tweeted on Friday. “This is a great loss for our friends in the UAE and for the whole region.”

“I also express my condolences to my friend, Sheikh Muhammad bin Zayed. The legacy and great deeds of Sheikh Khalifa were much appreciated in Israel. The State of Israel stands alongside the United Arab Emirates and with it at,” Prime Minister Naftali Bennett said.

Israeli Foreign Minister Yair Lapid also tweeted his condolences.

“I was deeply saddened to hear about the passing of His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the UAE.

“History is made by people: it is made by people who know history, but are willing to change it. It is made by people who prefer the future to the past,” he said, in an apparent reference to the Abraham Accords.

The UAE and Israel signed the Abraham Accords in September 2020 to begin establishing ties and since then several Israeli officials have visited the UAE.

Bahrain was also a signatory to the accords and was followed by Morocco and Sudan soon after. They were the first Arab countries to establish ties with Israel since Jordan in 1994 and Egypt in 1979.

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Starring: James Franco, Dave Franco, Seth Rogan

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The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.

Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.

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Uefa Champions League final:

Who: Real Madrid v Liverpool
Where: NSC Olimpiyskiy Stadium, Kiev, Ukraine
When: Saturday, May 26, 10.45pm (UAE)
TV: Match on BeIN Sports

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Price, base / as tested: Dh275,250 / Dh328,465

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A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.

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The two riders are among several riders in the UAE to receive the top payment of £10,000 under the Thank You Fund of £16 million (Dh80m), which was announced in conjunction with Deliveroo's £8 billion (Dh40bn) stock market listing earlier this year.

The £10,000 (Dh50,000) payment is made to those riders who have completed the highest number of orders in each market.

There are also riders who will receive payments of £1,000 (Dh5,000) and £500 (Dh2,500).

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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. 

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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. 

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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

From exhibitions to the battlefield

In 2016, the Shaded Dome was awarded with the 'De Vernufteling' people's choice award, an annual prize by the Dutch Association of Consulting Engineers and the Royal Netherlands Society of Engineers for the most innovative project by a Dutch engineering firm.

It was assigned by the Dutch Ministry of Defence to modify the Shaded Dome to make it suitable for ballistic protection. Royal HaskoningDHV, one of the companies which designed the dome, is an independent international engineering and project management consultancy, leading the way in sustainable development and innovation.

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Updated: May 13, 2022, 2:58 PM