Iranian president-elect Ebrahim Raisi said he would not meet US President Joe Biden, but called for a full return to the 2015 nuclear deal in his first comments since his election with a landslide.
The US, under Donald Trump, left the the Joint Comprehensive Plan of Action in 2018 and both it and Iran have undertaken weeks of indirect talks to try to find a way back.
But Mr Raisi said Iran’s foreign policy will be wider than the deal.
“Our foreign policy will not be limited to the nuclear deal,” he said in Tehran on Monday.
“We will have interaction with the world.”
“We will not tie the Iranian people’s interests to the nuclear deal.”
He said he would support the current talks but would not have “negotiations just for the sake of negotiations”.
When asked about meeting the US President in the future, he said, emphatically: “No.”
Mr Biden would be unlikely to seek a meeting with Mr Raisi, who is personally the subject of US sanctions for human rights abuses including a brutal crackdown on Iran’s Green Movement protests in 2009.
Although he has expressed anti-West sentiment throughout his career, Mr Raisi has softened his rhetoric in the past month.
Iran’s negotiations with the US and Europe have been approved by the supreme leader Ali Khamenei, meaning Iran is unlikely to depart from them under Mr Raisi.
The president-elect also said he would keep his predecessor, Hassan Rouhani’s negotiation team, although his own people are following the developments closely.
Mr Raisi was also asked about Iran’s relationship with other countries in the region.
He echoed a statement from Iranian Foreign Minister Javad Zarif last week that Iran was ready to send an ambassador to Saudi Arabia, saying there would be no obstacle to reopening embassies.
Mr Raisi said building relations with neighbouring countries would be a priority.
“I defended human rights as a prosecutor,” he said when asked about Iran’s human rights record.
“As a president, I’m also obliged to defend human rights.”
Mr Raisi’s first press conference ended with him reaching out to the Iranian diaspora.
“Our government is committed to the return of Iranians abroad in all areas. Iranians should be allowed to enter the country,” he said.
Many citizens outside the country are in self-imposed exile, often fearing arrest should they return.
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