The US will provide $1.45 billion of annual aid for Jordan for five years starting next year, the White House announced on Saturday.
It comes as US President Joe Biden held talks with King Abdullah of Jordan in Saudi Arabia following the Jeddah Security and Development Summit.
The gathering of leaders included officials from the GCC, Jordan, Egypt and Iraq, and came on the final day of Mr Biden's first tour of the region since taking office.
Mr Biden visited Israel, the Occupied West Bank and Saudi Arabia to lay out Washington's vision, strategy and policies towards the Middle East.
"The United States plans to make a commitment to support the provision of no less than $1.45 billion per year in US bilateral foreign assistance to Jordan, beginning in FY 2023 and ending in FY 2029," said the statement.
The agreement will address Jordan's "extraordinary needs, supports King Abdullah II’s economic reform program and ensure the long-term strength of the close partnership between the United States and Jordan," said the statement.
The leaders discussed the historic ties between Washington and Amman, and addressed regional and international challenges.
"They noted the political and economic value of regional integration, for which Jordan can serve as an important hub for cooperation and investment in infrastructure, energy, water, food security and climate," said the statement.
King Abdullah stressed the importance of Washington's support to the kingdom’s economic reform plans, its efforts to realise more sustainable economic growth and to mitigate the impact of regional crises, the statement said.
The two leaders also reiterated "the strong defence partnerships" between them and "the commitment to their partnership in the fight against terrorism, including through cooperation within the Global Coalition to Defeat ISIS and the Aqaba Process".
On the Israel-Palestine crisis they "reaffirmed their commitment to continue working for a just, lasting and comprehensive peace on the basis of the two-state solution."
The solution stipulates that both sides will be neighbouring states with East Jerusalem as the capital of an independent Palestine.
Mr Biden and King Abdullah intend to "remain in close consultation and further develop the deep friendship between the United States and Jordan," said the statement.
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German intelligence warnings
- 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
- 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
- 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250
Source: Federal Office for the Protection of the Constitution
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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
The five pillars of Islam
1. Fasting
2. Prayer
3. Hajj
4. Shahada
5. Zakat
