Iran's Guardian Council announced the list of approved candidates for the June 18 presidential elections. The seven in the list, leaked earlier this week by Fars News, are almost all conservative or hardline followers.
Although the Guardian Council can disqualify any candidate, Ayatollah Khamenei can ultimately amend the list. While the list has surprised many, the exclusion of former Parliament speaker Ali Larijani, who was seen as a frontrunner and main challenger to Chief Justice Ebrahim Raisi, was expected.
These are the candidates:
Ebrahim Raisi
Mr Raisi is a hardline conservative and Iran's Chief justice as well as a potential successor to Ayatollah Khamenei. Mr Raisi ran against current Iranian President Hassan Rouhani in 2017, getting only 38 per cent of the votes.
Mr Raisi has said he will be running as an independent, focusing his campaign on fighting poverty and corruption.
Without the presence of Mr Larijani, Mr Raisi is expected to easily win the election.
Amirhossein Ghazizadeh Hashemi
Mr Hashemi is a hardline candidate and the first deputy speaker of the Iranian Parliament. He has been a vocal critic of the broader region's efforts to normalise relations with Israel, as well as diplomatic relations with the west.
Mohsen Rezaei
Mr Rezaei is a former commander of the Islamic Revolutionary Guard Corps and is currently Secretary of the Expediency Council. The council is in charge of resolving disputes between parliament and the Guardian Council.
Mr Rezaei has run for president a number of times, starting in 2005, but has been unsuccessful each time.
Mohsen Mehralizadeh
Mr Mehralizadeh has also run for president in the past. In 2005, he ran as a reformist candidate. Mr Mehralizadeh was earlier the Governor of Isfahan province, a part of the Khatami government as a vice president, and also the head of the National Sports Organisation of Iran.
Saeed Jalili
Saeed Jalili, Iran's former nuclear negotiator during the presidency of Ahmadinejad is a hardliner and extremely close to Ayatollah Khamenei. He, along with Mr Raisi, is deemed a front-runner. Mr. Jalili is one of the more outspoken hardliner candidates. He is unlikely to foster diplomatic relations with the West, having promised no compromise over Iran's nuclear programme and its involvement in Syria. Mr Jalili would probably further escalate Iran's stand-off with the US.
Alireza Zakani
Mr Zakani is a senior politician from the more conservative faction of the Principlaict camp. He is also the owner of two news websites. Mr Zakani had previously registered to run for president, but had been disqualified by the Guardian Council.
Aboldnasser Hemmati
Mr Hemmati is currently part of the Rouhani administration. He is the central bank governor and considered a reform-minded technocrat. He has overseen Iran's central bank during a time when the economy has been under immense pressure from sanctions. He has been a supporter of the ongoing nuclear negotiations.
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
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
LILO & STITCH
Starring: Sydney Elizebeth Agudong, Maia Kealoha, Chris Sanders
Director: Dean Fleischer Camp
Rating: 4.5/5
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Favourite things
Luxury: Enjoys window shopping for high-end bags and jewellery
Discount: She works in luxury retail, but is careful about spending, waits for sales, festivals and only buys on discount
University: The only person in her family to go to college, Jiang secured a bachelor’s degree in business management in China
Masters: Studying part-time for a master’s degree in international business marketing in Dubai
Vacation: Heads back home to see family in China
Community work: Member of the Chinese Business Women’s Association of the UAE to encourage other women entrepreneurs
UAE tour of Zimbabwe
All matches in Bulawayo
Friday, Sept 26 – UAE won by 36 runs
Sunday, Sept 28 – Second ODI
Tuesday, Sept 30 – Third ODI
Thursday, Oct 2 – Fourth ODI
Sunday, Oct 5 – First T20I
Monday, Oct 6 – Second T20I
The years Ramadan fell in May
