Iran's Foreign Minister met Nicaraguan President Daniel Ortega, the South American country said, as the two allies seek to expand bilateral relations.
The countries, which are both subject to US sanctions, signed a deal on Wednesday for greater co-operation.
Foreign Minister Hossein Amirabdollahian will next head to Venezuela, Iran's Foreign Ministry said.
Mr Amirabdollahian held talks on Thursday with Mr Ortega who defended the rights of Iran and North Korea to develop nuclear weapons, saying Washington has no authority to restrict them.
“We don’t love atomic bombs … but what authority [do Western powers have] to want to prohibit Iran if it wants to make atomic bombs?” Mr Ortega asked with the Iranian minister by his side.
Mr Ortega said the West “don’t have the right to dictate who has and who doesn’t have atomic bombs”.
He said he would like “all atomic bombs to disappear”, starting with “the ones of the Yankees”, referring to the US.
Mr Amirabdollahian told Mr Ortega that Tehran’s nuclear programme has only peaceful aims.
This has been disputed by the US and other Western allies who signed an accord with Iran in 2015 to dismantle much of its nuclear programme.
Mr Amirabdollahian said Mr Ortega and Iranian President Ebrahim Raisi have committed to taking steps to put into effect a bilateral agreement signed at the end of 2022.
In December, Mr Amirabdollahian and Nicaragua Foreign Minister Denis Moncada signed an agreement in Tehran that included energy issues among others, although no details were shared.
On Wednesday evening, the two countries additionally signed a memorandum of understanding “for cultural, scientific, health co-operation, co-operation also in the political field and co-operation in all spheres of common good”, said Nicaraguan Vice President Rosario Murillo, who is also Mr Ortega's wife.
Mr Amir Abdollahian told reporters on Thursday that “yesterday we had and also today we are going to have important agreements between both countries”.
“The support of the parliaments of both countries is fundamental to implement the bilateral agreements,” he said.
Iran's Foreign Ministry said commercial and economic co-operation is a “priority” for the two countries, while political relations are at an “excellent” level.
Iran also maintains strong ties with Venezuela and Cuba, which are likewise subject to US-led international sanctions and have been widely criticised for their authoritarian regimes.
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PROFILE OF HALAN
Started: November 2017
Founders: Mounir Nakhla, Ahmed Mohsen and Mohamed Aboulnaga
Based: Cairo, Egypt
Sector: transport and logistics
Size: 150 employees
Investment: approximately $8 million
Investors include: Singapore’s Battery Road Digital Holdings, Egypt’s Algebra Ventures, Uber co-founder and former CTO Oscar Salazar
Indoor cricket World Cup:
Insportz, Dubai, September 16-23
UAE fixtures:
Men
Saturday, September 16 – 1.45pm, v New Zealand
Sunday, September 17 – 10.30am, v Australia; 3.45pm, v South Africa
Monday, September 18 – 2pm, v England; 7.15pm, v India
Tuesday, September 19 – 12.15pm, v Singapore; 5.30pm, v Sri Lanka
Thursday, September 21 – 2pm v Malaysia
Friday, September 22 – 3.30pm, semi-final
Saturday, September 23 – 3pm, grand final
Women
Saturday, September 16 – 5.15pm, v Australia
Sunday, September 17 – 2pm, v South Africa; 7.15pm, v New Zealand
Monday, September 18 – 5.30pm, v England
Tuesday, September 19 – 10.30am, v New Zealand; 3.45pm, v South Africa
Thursday, September 21 – 12.15pm, v Australia
Friday, September 22 – 1.30pm, semi-final
Saturday, September 23 – 1pm, grand final
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