Mohammed Shia Al Sudani, Iraq's Prime Minister, said his government had been asked to continue to mediate talks between Iran and Saudi Arabia. AP
Mohammed Shia Al Sudani, Iraq's Prime Minister, said his government had been asked to continue to mediate talks between Iran and Saudi Arabia. AP
Mohammed Shia Al Sudani, Iraq's Prime Minister, said his government had been asked to continue to mediate talks between Iran and Saudi Arabia. AP
Mohammed Shia Al Sudani, Iraq's Prime Minister, said his government had been asked to continue to mediate talks between Iran and Saudi Arabia. AP

Al Sudani says Iran and Iraq to strengthen ties in Tehran visit


Sinan Mahmoud
  • English
  • Arabic

Iraq and Iran on Tuesday hailed their "deeply rooted" and "historic" bilateral relations, pledging to boost economic, political and security co-operation.

The announcement was made as Iraqi Prime Minister Mohammed Shia Al Sudani began an official visit to Iran, a staunch regional supporter of his government and several influential Shiite militias, which form a branch of the official security forces known as the Popular Mobilisation Forces.

Mr Al Sudani's delegation included Iraqi Foreign Minister Fouad Hussein, Oil Minister Hayan Abdel-Ghani, National Security Adviser Qassim Al Araji and the head of the state-run Trade Bank of Iraq.

"Our relations with Iraq are not normal ones but deeply rooted that bring the two countries and their governments side by side," Iranian President Ebrahim Raisi told a joint press conference.

"Iraq has an important statute for establishing peace, security and stability in the region," Mr Raisi said, adding that his government is willing to co-operate with Baghdad in facing "any element that threatens security and stability in the two countries".

The visit comes as Iran intensifies its cross-border attacks against armed Kurdish opposition groups in Iraqi Kurdistan. It accuses them of fanning unrest amid demonstrations across Iran.

Last week, Baghdad decided to deploy Border Guard units to its borders with Turkey and Iran in a bid to stop continuous attacks from its neighbours against these groups.

The continuing demonstrations in Iran were sparked by the death in custody on September 16 of Iranian Kurd Mahsa Amini, 22, who had been arrested by Tehran's morality police.

Iranian and Turkish-Kurdish rebel groups have for decades sought refuge in northern Iraq's autonomous Kurdistan region.

For his part, Mr Al Sudani underlined that security with Iran "is integrated" and that his government would "not allow any group or parties to use the Iraqi lands to destabilise the security of Iran".

"We will discuss the security issues and there will be a formula for the field co-operation to avoid any escalation."

Mr Al Sudani’s office did not release the full agenda before the visit, but a politician had earlier told The National the discussions would focus on the Iranian shelling of Kurdish dissident groups in northern Iraq and resuming Tehran-Riyadh talks in Baghdad.

Since last year, Baghdad has hosted five rounds of talks between Saudi Arabia and Iran on the normalisation of their relations. The last round was in April.

Riyadh severed ties with Tehran in 2016 after Iranian protesters stormed the Saudi embassy in the Iranian capital following the execution of a Shiite cleric in Saudi Arabia.

Mr Al Sudani has said his government would continue to push for negotiations.

Iraq's new government was asked to continue to mediate talks between the two countries, he said this month.

The visit to Iraq is his third since taking office, after Jordan and Kuwait.

Mr Al Sudani’s government, approved late last month after a year-long political stalemate following the national elections in October last year, has the support of Tehran.

He was the nominee of the Iran-aligned Co-ordination Framework, the largest political group in the Iraqi Parliament with 138 out of 329 seats.

The group comprises powerful Iran-backed Shiite militias and political parties.

How much do leading UAE’s UK curriculum schools charge for Year 6?
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  2. Kings School Al Barsha (Dubai) – Dh71,905
  3. Brighton College Abu Dhabi - Dh68,560
  4. Jumeirah English Speaking School (Dubai) – Dh59,728
  5. Gems Wellington International School – Dubai Branch – Dh58,488
  6. The British School Al Khubairat (Abu Dhabi) - Dh54,170
  7. Dubai English Speaking School – Dh51,269

*Annual tuition fees covering the 2024/2025 academic year

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Twenty20 squad: Babar Azam (captain), Asif Ali, Fakhar Zaman, Haris Sohail, Iftikhar Ahmed, Imad Wasim, Imam-ul-Haq, Khushdil Shah, Mohammad Amir, Mohammad Hasnain, Mohammad Irfan, Mohammad Rizwan (wicketkeeper), Musa Khan, Shadab Khan, Usman Qadir, Wahab Riaz 

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How they line up for Sunday's Australian Grand Prix

1 Lewis Hamilton, Mercedes

2 Kimi Raikkonen, Ferrari

3 Sebastian Vettel, Ferrari

4 Max Verstappen, Red Bull

5 Kevin Magnussen, Haas

6 Romain Grosjean, Haas

7 Nico Hulkenberg, Renault

*8 Daniel Ricciardo, Red Bull

9 Carlos Sainz, Renault

10 Valtteri Bottas, Mercedes

11 Fernando Alonso, McLaren

12 Stoffel Vandoorne, McLaren

13 Sergio Perez, Force India

14 Lance Stroll, Williams

15 Esteban Ocon, Force India

16 Brendon Hartley, Toro Rosso

17 Marcus Ericsson, Sauber

18 Charles Leclerc, Sauber

19 Sergey Sirotkin, Williams

20 Pierre Gasly, Toro Rosso

* Daniel Ricciardo qualified fifth but had a three-place grid penalty for speeding in red flag conditions during practice

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Company Fact Box

Company name/date started: Abwaab Technologies / September 2019

Founders: Hamdi Tabbaa, co-founder and CEO. Hussein Alsarabi, co-founder and CTO

Based: Amman, Jordan

Sector: Education Technology

Size (employees/revenue): Total team size: 65. Full-time employees: 25. Revenue undisclosed

Stage: early-stage startup 

Investors: Adam Tech Ventures, Endure Capital, Equitrust, the World Bank-backed Innovative Startups SMEs Fund, a London investment fund, a number of former and current executives from Uber and Netflix, among others.

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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The Melbourne Mercer Global Pension Index

The Melbourne Mercer Global Pension Index

Mazen Abukhater, principal and actuary at global consultancy Mercer, Middle East, says the company’s Melbourne Mercer Global Pension Index - which benchmarks 34 pension schemes across the globe to assess their adequacy, sustainability and integrity - included Saudi Arabia for the first time this year to offer a glimpse into the region.

The index highlighted fundamental issues for all 34 countries, such as a rapid ageing population and a low growth / low interest environment putting pressure on expected returns. It also highlighted the increasing popularity around the world of defined contribution schemes.

“Average life expectancy has been increasing by about three years every 10 years. Someone born in 1947 is expected to live until 85 whereas someone born in 2007 is expected to live to 103,” Mr Abukhater told the Mena Pensions Conference.

“Are our systems equipped to handle these kind of life expectancies in the future? If so many people retire at 60, they are going to be in retirement for 43 years – so we need to adapt our retirement age to our changing life expectancy.”

Saudi Arabia came in the middle of Mercer’s ranking with a score of 58.9. The report said the country's index could be raised by improving the minimum level of support for the poorest aged individuals and increasing the labour force participation rate at older ages as life expectancies rise.

Mr Abukhater said the challenges of an ageing population, increased life expectancy and some individuals relying solely on their government for financial support in their retirement years will put the system under strain.

“To relieve that pressure, governments need to consider whether it is time to switch to a defined contribution scheme so that individuals can supplement their own future with the help of government support,” he said.

Updated: November 29, 2022, 6:14 PM