MPs approved a $150 million loan from the World Bank to support wheat imports for the next six to nine months. Reuters
MPs approved a $150 million loan from the World Bank to support wheat imports for the next six to nine months. Reuters
MPs approved a $150 million loan from the World Bank to support wheat imports for the next six to nine months. Reuters
MPs approved a $150 million loan from the World Bank to support wheat imports for the next six to nine months. Reuters

Chaotic scenes in Lebanese Parliament as MPs vote on 40 draft laws


Jamie Prentis
  • English
  • Arabic

Chaotic scenes marked the Lebanese Parliament's first legislative session since the May 15 elections, with MPs given the task of voting on 40 draft laws on Tuesday.

Among the items approved include a proposed amendment of Lebanon’s banking secrecy laws and a $150 million loan from the World Bank to support wheat imports for the next six to nine months.

Insults were traded on the floor of Parliament, particularly between MPs from Amal — the party of Speaker Nabih Berri — and those from the opposition bloc the Forces of Change, which is linked to the October 2019 protests against the ruling class that led to the collapse of the government.

In one session, Forces of Change MP Cynthia Zarazir was branded a “cockroach” by Amal MP Kabalan Kabalan.

The amendments to the banking secrecy laws are one of a number of prerequisites for $3 billion in funds from the International Monetary Fund.

However, the bill has been watered down from its original version and allows government institutions to lift secrecy specifically in cases of criminal investigations, including in illicit enrichment, money laundering and terrorism financing.

But the original draft law would have allowed banking secrecy to be lifted to investigate “all financial crimes”.

Tense scenes could be witnessed outside Parliament as well: family members of the victims of the August 2020 blast that struck Beirut’s port protested in front of the building, demanding that MPs pass a law that would classify the port's silos as a monument to the more than 200 people who died.

“We want [the MPs] to keep the silos as a memorial to the victims that lost their lives,” Mariana Fodoulian, whose 29-year-old sister Gaia died in the blast, told The National.

The 2020 explosion occurred after a large stock of ammonium nitrate, which had been sitting at the port for years, caught fire.

  • Hasan Mortada suffered six broken vertebrae and two broken pelvic bones
    Hasan Mortada suffered six broken vertebrae and two broken pelvic bones
  • Walid Sebaali sustained minor injuries in the blast
    Walid Sebaali sustained minor injuries in the blast
  • Elias Nohra helped the army clear rubble for weeks
    Elias Nohra helped the army clear rubble for weeks
  • Ramez Mansour rushed out the silo offices moments before the blast
    Ramez Mansour rushed out the silo offices moments before the blast
  • Michel Abdo, 58, lost an eye in the explosion
    Michel Abdo, 58, lost an eye in the explosion

“We believe that [the silos] are a collective memory that should be preserved. We should remember the casualties everyday,” Elias Hankach, an MP for the Kataeb Party, told The National outside Parliament.

The Kataeb Party, whose secretary-general Nazar Najarian died in the blast, is behind one of the two draft laws that would classify the silos as a monument.

The silos remain a sensitive topic in Lebanon: the explosion has been blamed on mismanagement and corruption, and is viewed as a symptom of the country's many systemic problems.

In April, the Lebanese Cabinet approved the demolition of the silos after a survey found that they could collapse in the coming months. In addition, a nearly three-week long fire has been burning unchecked at the site, leading to fears it may cave in.

But families of the victims filed three separate lawsuits last month to stop the demolition.

“Like anywhere in the world, in Hiroshima, in Ground Zero [in New York], in Berlin, we keep a memory of a big catastrophe that happened,” Mr Hankach said.

The demonstrators also protested against the election of the seven MPs who will form the 15-member Supreme Council, which is able to prosecute politicians. The other eight members are judges.

An investigation into the port explosion by judge Tarek Bitar has struggled to make headway amid repeated delays. Two sitting MPs in the Lebanese Parliament have been charged in connection with the investigation but have refused to attend interrogation hearings.

Some MPs have suggested the Supreme Council should be the sole body prosecuting politicians charged in connection with the blast — but no MP has ever been tried by the council, despite its decades-long existence.

Protesters believe it is an attempt by those accused of responsibility for the blast to evade justice.

“It's been 30 years that we had have this Supreme Council. It's never working and we never saw anyone in jail,” said Ms Fodoulian.

“They are trying to take the investigation from the hands of the judge and take it to the Parliament. This is not acceptable for us.

“We need the support of the Lebanese people. We will never forget and we have to punish [those responsible] so that nothing else will happen again.”

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Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan

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HIJRA

Starring: Lamar Faden, Khairiah Nathmy, Nawaf Al-Dhufairy

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

Rating: 1/5

Fifa Club World Cup quarter-final

Esperance de Tunis 0
Al Ain 3
(Ahmed 02’, El Shahat 17’, Al Ahbabi 60’)

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Group E: River Plate, Urawa, Monterrey, Inter Milan.

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Results

5pm: Al Falah – Maiden (PA) Dh80,000 (Turf) 1,200m; Winner: Bshara, Richard Mullen (jockey), Salem Al Ketbi (trainer)

5.30pm: Wathba Stallions Cup – Handicap (PA) Dh70,000 (T) 1,400m; Winner: AF Musannef, Tadhg O’Shea, Ernst Oertel

6pm: Al Dhafra – Maiden (PA) Dh80,000 (T) 1,600m; Winner: AF Mualami, Antonio Fresu, Abubakar Daud

6.30pm: Al Khaleej Al Arabi – Handicap (PA) Dh80,000 (T) 1,600m; Winner: Hawafez, Adrie de Vries, Abubakar Daud

7pm: Al Mafraq – Handicap (PA) Dh80,000 (T) 1,600m; Winner: JAP Almahfuz, Royston Ffrench, Irfan Ellahi

7.30pm: Al Samha – Handicap (TB) Dh80,000 (T) 1,600m; Winner: Celestial Spheres, Patrick Cosgrave, Ismail Mohammed

MISSION: IMPOSSIBLE – FINAL RECKONING

Director: Christopher McQuarrie

Starring: Tom Cruise, Hayley Atwell, Simon Pegg

Rating: 4/5

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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

Key findings of Jenkins report
  • Founder of the Muslim Brotherhood, Hassan al Banna, "accepted the political utility of violence"
  • Views of key Muslim Brotherhood ideologue, Sayyid Qutb, have “consistently been understood” as permitting “the use of extreme violence in the pursuit of the perfect Islamic society” and “never been institutionally disowned” by the movement.
  • Muslim Brotherhood at all levels has repeatedly defended Hamas attacks against Israel, including the use of suicide bombers and the killing of civilians.
  • Laying out the report in the House of Commons, David Cameron told MPs: "The main findings of the review support the conclusion that membership of, association with, or influence by the Muslim Brotherhood should be considered as a possible indicator of extremism."
WHAT FANS WILL LOVE ABOUT RUSSIA

FANS WILL LOVE
Uber is ridiculously cheap and, as Diego Saez discovered, mush safer. A 45-minute taxi from Pulova airport to Saint Petersburg’s Nevsky Prospect can cost as little as 500 roubles (Dh30).

FANS WILL LOATHE
Uber policy in Russia is that they can start the fare as soon as they arrive at the pick-up point — and oftentimes they start it even before arriving, or worse never arrive yet charge you anyway.

FANS WILL LOVE
It’s amazing how active Russians are on social media and your accounts will surge should you post while in the country. Throw in a few Cyrillic hashtags and watch your account numbers rocket.

FANS WILL LOATHE
With cold soups, bland dumplings and dried fish, Russian cuisine is not to everybody’s tastebuds.  Fortunately, there are plenty Georgian restaurants to choose from, which are both excellent and economical.

FANS WILL LOVE
The World Cup will take place during St Petersburg's White Nights Festival, which means perpetual daylight in a city that genuinely never sleeps. (Think toddlers walking the streets with their grandmothers at 4am.)

FANS WILL LOATHE
The walk from Krestovsky Ostrov metro station to Saint Petersburg Arena on a rainy day makes you wonder why some of the $1.7 billion was not spent on a weather-protected walkway.

Day 3 stumps

New Zealand 153 & 249
Pakistan 227 & 37-0 (target 176)

Pakistan require another 139 runs with 10 wickets remaining

French business

France has organised a delegation of leading businesses to travel to Syria. The group was led by French shipping giant CMA CGM, which struck a 30-year contract in May with the Syrian government to develop and run Latakia port. Also present were water and waste management company Suez, defence multinational Thales, and Ellipse Group, which is currently looking into rehabilitating Syrian hospitals.

Company%20profile
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Updated: July 27, 2022, 4:22 AM