Iran’s Foreign Minister has called on Lebanon’s bitterly divided politicians to come together and end the country’s six-month presidential vacuum and elect a successor to Michel Aoun.
The Lebanese parliament, where no faction holds a majority, has failed to come close to agreeing on the next president in 11 sessions. No presidential sessions have been held since January amid the impasse.
“We encourage all sides in Lebanon to expedite the election of a president,” Hossein Amirabdollahian said on a visit to Beirut.
“We will support any election and agreement reached between all Lebanese sides … and we call on other foreign parties to respect the choice of the Lebanese without interfering in the country's affairs,” he said.
Iran’s chief ally in Lebanon is Hezbollah, the Shiite political party and armed group that holds significant sway in the country.
Hezbollah’s Secretary General Hassan Nasrallah has publicly declared his support for Suleiman Frangieh, a close friend of Syrian President Bashar Al Assad.
But while Hezbollah’s Shiite ally the Amal Movement has also backed Mr Frangieh, the two parties’ support for the latter is not enough to propel him to the presidency.
Among Mr Frangieh’s detractors are parliament’s two largest Christian parties, the Lebanese Forces and the Free Patriotic Movement — although they themselves back differing candidates.
In Lebanon’s confessional system, the presidency is reserved for a Maronite Christian.
The vacuum comes at an acutely difficult time for Lebanon, which is entrenched in one of the worst economic downturns in modern history.
Meanwhile, the cabinet of Prime Minister Najib Mikati is in caretaker status and thus severely stripped of its powers.
Mr Amirabdollahian’s visit is his first to Lebanon since Saudi Arabia, which also holds significant influence in Lebanon, and Iran agreed to re-establish diplomatic relations and reopen embassies after years of tensions.
“I am optimistic that every regional agreement and any deal between regional countries is good for Lebanon,” said Lebanese Foreign Minister Abdallah Bou Habib during the visit of his Iranian counterpart.
“The agreement between Iran and Saudi Arabia is important for peace in the region,” he added.
The Iranian Foreign Minister also met Mr Mikati and parliament speaker Nabih Berri.
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Singham Again
Director: Rohit Shetty
Stars: Ajay Devgn, Kareena Kapoor Khan, Ranveer Singh, Akshay Kumar, Tiger Shroff, Deepika Padukone
Rating: 3/5
Scoreline
Arsenal 3
Aubameyang (28'), Welbeck (38', 81')
Red cards: El Neny (90' 3)
Southampton 2
Long (17'), Austin (73')
Red cards: Stephens (90' 2)
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 specs: 2018 Infiniti QX80
Price: base / as tested: Dh335,000
Engine: 5.6-litre V8
Gearbox: Seven-speed automatic
Power: 400hp @ 5,800rpm
Torque: 560Nm @ 4,000rpm
Fuel economy, combined: 12.1L / 100km
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