Mossad Director David Barnea wrapped up his trip to the US on Thursday. Getty
Mossad Director David Barnea wrapped up his trip to the US on Thursday. Getty
Mossad Director David Barnea wrapped up his trip to the US on Thursday. Getty
Mossad Director David Barnea wrapped up his trip to the US on Thursday. Getty

Mossad chief 'showed US officials sensitive material’ on Iran


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Mossad chief David Barnea concluded his visit to Washington, where he held talks with senior US officials on the potential revival of the Iran nuclear deal.

Israeli media outlets cited the office of Israeli Prime Minister Yair Lapid, which said Mr Barnea showed American officials “sensitive intelligence material” on Iran.

Mr Barnea stressed that Israel would “not be able to stand idly by while Iran continues to deceive the world”, Mr Lapid's office said at the end of the three-day visit on Thursday.

The Mossad chief held meetings with CIA counterpart William Burns, FBI director Christopher Wray, National Security Adviser Jake Sullivan, US Defence Secretary Lloyd Austin, Chairman of the Joint Chiefs of Staff Mark Milley and senior officials at the State Department.

Before he embarked on the visit on Monday, the Israeli prime minister's office said Mr Barnea's visit would focus on tightening security and intelligence co-ordination with the US regarding the Iranian nuclear programme.

Mr Lapid has already voiced his opposition to the revival of the 2015 deal with Tehran. He repeated that what was signed in 2015 was “not a good deal” and that the one currently being formulated entailed “greater dangers”.

Mr Barnea's visit is considered by observers as the latest push by Israeli to sway western powers from a return to the 2015 deal with Tehran.

Israel has said a deal would enable the funding of Iran-supported militants while failing to prevent Tehran from developing a nuclear weapon — a goal Iran has always denied.

During his visit to Washington, US officials renewed their commitment to Israel’s security, Mr Lapid's office said.

“The Americans emphasised that they will not allow Iran to obtain a nuclear weapon and that they will continue to act in full co-operation with … Israel with regards to regional issues in the Middle East concerning the security of the state of Israel.”

The Times of Israel reported on Wednesday that top US officials had told Mr Lapid that a nuclear deal between Iran and world powers would not be signed in the foreseeable future.

In 2018, Donald Trump, US president at the time, unilaterally withdrew from the agreement designed to prevent Iran from developing a nuclear weapon.

His successor Joe Biden has sought to return to the deal. But over a year and a half of talks, negotiations have hit several obstacles, including Tehran's insistence that the International Atomic Energy Agency close its probes into uranium traces found at three undeclared sites before the nuclear pact is revived.

The US says that investigation must proceed unimpeded.

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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Quick pearls of wisdom

Focus on gratitude: And do so deeply, he says. “Think of one to three things a day that you’re grateful for. It needs to be specific, too, don’t just say ‘air.’ Really think about it. If you’re grateful for, say, what your parents have done for you, that will motivate you to do more for the world.”

Know how to fight: Shetty married his wife, Radhi, three years ago (he met her in a meditation class before he went off and became a monk). He says they’ve had to learn to respect each other’s “fighting styles” – he’s a talk it-out-immediately person, while she needs space to think. “When you’re having an argument, remember, it’s not you against each other. It’s both of you against the problem. When you win, they lose. If you’re on a team you have to win together.” 

Updated: September 09, 2022, 6:46 AM