Prime Minister-designate Mohammed Shia Al Sudani attends a parliamentary session to vote for a new president in Baghdad on Thursday. Reuters
Prime Minister-designate Mohammed Shia Al Sudani attends a parliamentary session to vote for a new president in Baghdad on Thursday. Reuters
Prime Minister-designate Mohammed Shia Al Sudani attends a parliamentary session to vote for a new president in Baghdad on Thursday. Reuters
Prime Minister-designate Mohammed Shia Al Sudani attends a parliamentary session to vote for a new president in Baghdad on Thursday. Reuters

Iraqi president asks Mohammed Shia Al Sudani to form next government


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Iraq's new president Abdul Lateef Rasheed on Thursday asked long-serving politician Mohammed Shia Al Sudani to form the next government.

Mr Al Sudani, who was nominated for the post by the Iran-backed Co-ordination Framework, has 30 days to submit his Cabinet line-up to Iraq's Parliament for approval.

Parliament elected Mr Rashid, a Kurdish politician, as president earlier on Thursday in the first step towards the formation of a new government in Iraq after a year of political deadlock.

In his first statement, Mr Al Sudani thanked those who supported him and promised to submit his cabinet “as soon as possible”.

He also promised to form a “strong government" that was able to "build the country, to serve the citizens, to preserve security and stability and build balanced international relations”.

Mr Al Sudani started his political career as a member of the Shiite Dawa Party and then ran for election with the State of Law Coalition led by former prime minister Nouri Al Maliki. He has won three terms in parliament since 2014.

Among other posts, he served as human rights minister from 2010 to 2014 and minister of labour and social affairs from 2014 to 2018. He worked in an acting role for several ministries during Mr Al Maliki’s two terms in office from 2006 to 2014.

In 2021, he established his Al Foratyen Movement but kept close ties to Mr Al Maliki.

He belongs to a well-known tribe in the southern province of Maysan, where he served as a member of its provincial council between 2004 and 2009 when he became governor for a year.

The State of Law Coalition is one of the parties within the Co-ordination Framework which controls nearly 40 seats. Mr Al Maliki was removed from office in 2014, when ISIS took over one-third of the country, amid widespread allegations of corruption.

A handout photo made available by Iraqi Parliament Media Office shows New iraq's president Abdul Lateef Rasheed (2-R) hands over the letter of assignment to form a new government to the nominated Prime Minister Mohammed Shia Al Sudani (C) at the Iraqi Parliament in Baghdad, Iraq on 13 October 2022. EPA
A handout photo made available by Iraqi Parliament Media Office shows New iraq's president Abdul Lateef Rasheed (2-R) hands over the letter of assignment to form a new government to the nominated Prime Minister Mohammed Shia Al Sudani (C) at the Iraqi Parliament in Baghdad, Iraq on 13 October 2022. EPA

Caretaker prime minister Mustafa Al Kadhimi congratulated Mr Al Sudani on being asked to form the new Iraqi government.

“We call on all political forces to co-operate and integrate, wishing him success in the task of forming the government in order to achieve the aspirations of our honourable people,” Mr Al Kadhimi tweeted.

Prominent Shiite cleric Moqtada Al Sadr once described Mr Al Sudani as a “shadow” of Mr Al Maliki, with whom he has had many years of rivalry.

Mr Al Maliki and the parties backing Mr Al Sudani are considered to be close to Iran, whose influence in Iraq Mr Al Sadr opposes.

Mr Al Sadr's political bloc emerged as the biggest in parliament following elections on October 10 last year, winning 73 of the 329 seats. However, he asked his MPs to resign in June after failing to win a consensus on the election of a new president to set off the process of forming a new government.

Iraq Parliament Speaker Mohamed Al Halbousi heads a session to elect a new president in Baghdad on Thursday. AFP
Iraq Parliament Speaker Mohamed Al Halbousi heads a session to elect a new president in Baghdad on Thursday. AFP

Iraq's political rivals have been at loggerheads over who should be the next prime minister and the country's next president — as well as how to share out government posts.

The prime minister's post is reserved for the majority Shiite community, according to an unofficial agreement between political parties after Saddam Hussein was toppled in the 2003 US-led invasion. Other government posts are divided among the political parties based on their religious and ethnic backgrounds.

The parliament speaker must be a Sunni and the largely ceremonial post of president is reserved for Kurds.

Mr Rasheed was elected with 162 votes in a second round of voting on Thursday.

He had received 156 votes in the first round, short of the two-thirds majority needed to win. Incumbent president Barham Salih received 99 votes in both rounds.

Born in 1944 in the northern city of Sulaymaniyah, Mr Rasheed started his political career in the 1960s when he joined the Patriotic Union of Kurdistan (PUK).

He has a bachelor's degree in civil engineering from Liverpool University and a master's and doctorate in engineering from Manchester University.

He served as water resources minister from September 2003 to December 2010.

He was then appointed by the Iraqi president Jalal Talabani, the founder of PUK and his brother-in-law, as a senior adviser.

SERIE A FIXTURES

All times UAE ( 4 GMT)

Saturday
Roma v Udinese (5pm) 
SPAL v Napoli (8pm)
Juventus v Torino (10.45pm)

Sunday
Sampdoria v AC Milan (2.30pm)
Inter Milan v Genoa (5pm)
Crotone v Benevento (5pm)
Verona v Lazio (5pm)
Cagliari v Chievo (5pm)
Sassuolo v Bologna (8pm)
Fiorentina v Atalanta (10.45pm)

Key Points
  • Protests against President Omar Al Bashir enter their sixth day
  • Reports of President Bashir's resignation and arrests of senior government officials
UAE%20medallists%20at%20Asian%20Games%202023
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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

Indika
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Company%20Profile
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The biog

Simon Nadim has completed 7,000 dives. 

The hardest dive in the UAE is the German U-boat 110m down off the Fujairah coast. 

As a child, he loved the documentaries of Jacques Cousteau

He also led a team that discovered the long-lost portion of the Ines oil tanker. 

If you are interested in diving, he runs the XR Hub Dive Centre in Fujairah

 

SPIDER-MAN%3A%20ACROSS%20THE%20SPIDER-VERSE
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Director: Laxman Utekar

Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna

Rating: 1/5

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The more serious side of specialty coffee

While the taste of beans and freshness of roast is paramount to the specialty coffee scene, so is sustainability and workers’ rights.

The bulk of genuine specialty coffee companies aim to improve on these elements in every stage of production via direct relationships with farmers. For instance, Mokha 1450 on Al Wasl Road strives to work predominantly with women-owned and -operated coffee organisations, including female farmers in the Sabree mountains of Yemen.

Because, as the boutique’s owner, Garfield Kerr, points out: “women represent over 90 per cent of the coffee value chain, but are woefully underrepresented in less than 10 per cent of ownership and management throughout the global coffee industry.”

One of the UAE’s largest suppliers of green (meaning not-yet-roasted) beans, Raw Coffee, is a founding member of the Partnership of Gender Equity, which aims to empower female coffee farmers and harvesters.

Also, globally, many companies have found the perfect way to recycle old coffee grounds: they create the perfect fertile soil in which to grow mushrooms. 

In Full Flight: A Story of Africa and Atonement
John Heminway, Knopff

Results

5pm: Maiden (PA) Dh80,000 (Turf) 1,200m, Winner: ES Rubban, Antonio Fresu (jockey), Ibrahim Aseel (trainer)

5.30pm: Handicap (PA) Dh85,000 (T) 1,200m, Winner: Al Mobher, Sczcepan Mazur, Ibrahim Al Hadhrami

6pm: Handicap (PA) Dh80,000 (T) 2,200m, Winner: Jabalini, Tadhg O’Shea, Ibrahim Al Hadhrami

6.30pm: Wathba Stallions Cup (PA) Dh70,000 (T) 2,200m, Winner: AF Abahe, Tadgh O’Shea, Ernst Oertel

7pm: Handicap (PA) Dh85,000 (T) 1,600m, Winner: AF Makerah, Tadhg O’Shea, Ernst Oertel

7.30pm: Maiden (TB) Dh80,000 (T) 1,600m, Winner: Law Of Peace, Tadhg O’Shea, Satish Seemar

Updated: October 14, 2022, 4:39 AM