A man prays near the rubble of destroyed buildings in Kahramanmaras, Turkey, on Tuesday. Reuters
A man prays near the rubble of destroyed buildings in Kahramanmaras, Turkey, on Tuesday. Reuters
A man prays near the rubble of destroyed buildings in Kahramanmaras, Turkey, on Tuesday. Reuters
A man prays near the rubble of destroyed buildings in Kahramanmaras, Turkey, on Tuesday. Reuters

Turkey and Syria earthquake victims to be given free housing by Airbnb


Mina Aldroubi
  • English
  • Arabic

Follow the latest news on the earthquake in Turkey and Syria

Airbnb is offering temporary accommodation free of charge to people displaced by last week's earthquake in Turkey and Syria, and to relief workers, the company said on Wednesday.

It said it would use its network of non-profits to find accommodation, with a voucher system for people letting their homes to holidaymakers.

The stays will be co-ordinated by Airbnb's non-profit partners and funded by the company and donors to its website. Airbnb is an online service that allows people to offer short-term lettings to holidaymakers.

“Survivors and first responders urgently need temporary housing. Every donation will be matched up to $5 million total, doubling your impact,” the company said.

  • A woman walks among destroyed buildings in Hatay, Turkey. Getty Images
    A woman walks among destroyed buildings in Hatay, Turkey. Getty Images
  • A woman mourns a relative during the burial of one of the earthquake victims in Antakya, southeastern Turkey. AP Photo
    A woman mourns a relative during the burial of one of the earthquake victims in Antakya, southeastern Turkey. AP Photo
  • A family photo is seen amid the rubble in Hatay. Getty Images
    A family photo is seen amid the rubble in Hatay. Getty Images
  • Syrian refugees in Turkey return to their home country following the deadly earthquake. AFP
    Syrian refugees in Turkey return to their home country following the deadly earthquake. AFP
  • Members of NGOs Deathcare Embalming Team and Turkish Kurt-Ar inspect the bucket of an excavator as they search for bodies in Kahramanmaras, Turkey. AP Photo
    Members of NGOs Deathcare Embalming Team and Turkish Kurt-Ar inspect the bucket of an excavator as they search for bodies in Kahramanmaras, Turkey. AP Photo
  • Dust covers a family photo album found in Antakya. AP Photo
    Dust covers a family photo album found in Antakya. AP Photo
  • A man made homeless by the 7.8-magnitude quake carries mattresses distributed by an NGO at a makeshift camp in Afrin, in Syria's Aleppo province. AFP
    A man made homeless by the 7.8-magnitude quake carries mattresses distributed by an NGO at a makeshift camp in Afrin, in Syria's Aleppo province. AFP
  • A cracked road near the quake’s epicentre in Kahramanmaras, Turkey. AFP
    A cracked road near the quake’s epicentre in Kahramanmaras, Turkey. AFP
  • A rescuer stands near the site where Aleyna Olmez, 17, was rescued from the rubble of a collapsed building in Kahramanmaras, about 10 days after the quake struck. AFP
    A rescuer stands near the site where Aleyna Olmez, 17, was rescued from the rubble of a collapsed building in Kahramanmaras, about 10 days after the quake struck. AFP
  • A rescuer holds a cat after it was rescued from the ruins of a collapsed building in Kahramanmaras. AFP
    A rescuer holds a cat after it was rescued from the ruins of a collapsed building in Kahramanmaras. AFP
  • Quake survivors queue for food amid the rubble in Kahramanmaras. Reuters
    Quake survivors queue for food amid the rubble in Kahramanmaras. Reuters
  • Bedran, a local resident who lost his house in the earthquake, keeps warm in Antakya, Turkey. Reuters
    Bedran, a local resident who lost his house in the earthquake, keeps warm in Antakya, Turkey. Reuters
  • A girl carries a box of water bottles next to a damaged mosque in Antakya. Reuters
    A girl carries a box of water bottles next to a damaged mosque in Antakya. Reuters
  • A car lies crushed by parts of a badly damaged building in Samandag, Turkey. AP
    A car lies crushed by parts of a badly damaged building in Samandag, Turkey. AP
  • Residentes remove their belongings from their destroyed house in Samandag. AP
    Residentes remove their belongings from their destroyed house in Samandag. AP
  • Aleyna Olmez, 17, is rescued after being trapped for 10 days in Kahramanmaras. Getty
    Aleyna Olmez, 17, is rescued after being trapped for 10 days in Kahramanmaras. Getty
  • Turkish Foreign Minister Mevlut Cavusoglu, left, with Nato Secretary General Jens Stoltenberg in Ankara. AFP
    Turkish Foreign Minister Mevlut Cavusoglu, left, with Nato Secretary General Jens Stoltenberg in Ankara. AFP
  • A message scrawled on a car covered in dust from collapsed buildings in Antakya, Turkey. AP
    A message scrawled on a car covered in dust from collapsed buildings in Antakya, Turkey. AP
  • Destruction in Antakya. AP
    Destruction in Antakya. AP
  • A cracked road leads to a flooded area in Antakya. AP
    A cracked road leads to a flooded area in Antakya. AP
  • A man looks bewildered at the site of collapsed buildings in Hatay, Turkey. EPA
    A man looks bewildered at the site of collapsed buildings in Hatay, Turkey. EPA
  • Numbered stones near graves of earthquake victims at a cemetery in Adiyaman, Turkey. EPA
    Numbered stones near graves of earthquake victims at a cemetery in Adiyaman, Turkey. EPA
  • A makeshift camp set up amid the rubble in Antakya, south of Hatay. AFP
    A makeshift camp set up amid the rubble in Antakya, south of Hatay. AFP
  • A woman holds her baby inside a tent in a camp in Antakya, Hatay. AFP
    A woman holds her baby inside a tent in a camp in Antakya, Hatay. AFP
  • Greek and Turkish rescuers are at work to extract bodies of victims from the rubble in Antakya. AFP
    Greek and Turkish rescuers are at work to extract bodies of victims from the rubble in Antakya. AFP
  • Samar Hamouda, 44, recalls her experience of the earthquake destroying her home, at Tishreen Hospital in Latakia, Syria. Reuters
    Samar Hamouda, 44, recalls her experience of the earthquake destroying her home, at Tishreen Hospital in Latakia, Syria. Reuters
  • A damaged house in Jableh, Syria. Reuters
    A damaged house in Jableh, Syria. Reuters
  • Photos of missing children left in hope in Kahramanmaras, Turkey. Reuters
    Photos of missing children left in hope in Kahramanmaras, Turkey. Reuters
  • People collect copies of holy books from the rubble in Kahramanmaras. Reuters
    People collect copies of holy books from the rubble in Kahramanmaras. Reuters
  • Rescuers search for survivors under the rubble of a collapsed building in Kahramanmaras. Reuters
    Rescuers search for survivors under the rubble of a collapsed building in Kahramanmaras. Reuters
  • People carry a bodybag as residents wait for their relatives to be pulled out from the rubble in Hatay. AFP
    People carry a bodybag as residents wait for their relatives to be pulled out from the rubble in Hatay. AFP
  • Dust covers a family photo album found in the debris of a building in Antakya. AP
    Dust covers a family photo album found in the debris of a building in Antakya. AP
  • Portuguese rescue team members try to free the dog named Tarcin from the rubble in Antakya in Hatay. EPA
    Portuguese rescue team members try to free the dog named Tarcin from the rubble in Antakya in Hatay. EPA
  • An injured survivor at a makeshift hospital set up at Turkish Bayraktar warship anchored near Iskenderun city, southern Turkey. AP
    An injured survivor at a makeshift hospital set up at Turkish Bayraktar warship anchored near Iskenderun city, southern Turkey. AP
  • A makeshift hospital set up at Turkish Bayraktar warship anchored near Iskenderun city, southern Turkey. AP
    A makeshift hospital set up at Turkish Bayraktar warship anchored near Iskenderun city, southern Turkey. AP
  • Britain's King Charles III (C) meets with members of the Turkish diaspora community who have been collecting, packaging and organising the transportation of food, blankets and warm clothing for people who have recently been affected by the earthquakes in Turkey and Syria, during a visit to the West London Turkish Volunteers, in Hounslow, greater London. AFP
    Britain's King Charles III (C) meets with members of the Turkish diaspora community who have been collecting, packaging and organising the transportation of food, blankets and warm clothing for people who have recently been affected by the earthquakes in Turkey and Syria, during a visit to the West London Turkish Volunteers, in Hounslow, greater London. AFP
  • People stand by the fire next to the ruins of a collapsed building in Elbistan, Turkey. Reuters
    People stand by the fire next to the ruins of a collapsed building in Elbistan, Turkey. Reuters
  • Destroyed buildings in Syria's rebel-held village of Atarib, in the north-western Aleppo province. AFP
    Destroyed buildings in Syria's rebel-held village of Atarib, in the north-western Aleppo province. AFP
  • Rescuers carry Fatma, 15, who was pulled out from the rubble in Hatay, Turkey. Reuters
    Rescuers carry Fatma, 15, who was pulled out from the rubble in Hatay, Turkey. Reuters
  • A displaced woman receives food inside a stadium in Kahramanmaras, Turkey. Reuters
    A displaced woman receives food inside a stadium in Kahramanmaras, Turkey. Reuters
  • People lineup to receive aid supplies at a makeshift camp in Iskenderun city in southern Turkey. AP
    People lineup to receive aid supplies at a makeshift camp in Iskenderun city in southern Turkey. AP
  • Humanitarian aid provided by Saudi Arabia for survivors of the February 6 earthquake are unloaded at Aleppo Airport in northern Syria. AFP
    Humanitarian aid provided by Saudi Arabia for survivors of the February 6 earthquake are unloaded at Aleppo Airport in northern Syria. AFP
  • Turkish President Recep Tayyip Erdogan addresses the World Government Summit in Dubai via video link. Antonie Robertson/The National
    Turkish President Recep Tayyip Erdogan addresses the World Government Summit in Dubai via video link. Antonie Robertson/The National
  • A man walks between trains being using as shelters in Iskenderun, southern Turkey. AP Photo
    A man walks between trains being using as shelters in Iskenderun, southern Turkey. AP Photo
  • A woman and children inside a train being used as shelter after the earthquake, in Iskenderun. AP Photo
    A woman and children inside a train being used as shelter after the earthquake, in Iskenderun. AP Photo
  • Tents erected in a school yard for Syrians who have lost their homes after the deadly quake, in the rebel-held town of Harem in Syria. Reuters
    Tents erected in a school yard for Syrians who have lost their homes after the deadly quake, in the rebel-held town of Harem in Syria. Reuters
  • A woman walks by the destroyed Habib-i Neccar mosque in the historic southern city of Antakya in Hatay, Turkey. AFP
    A woman walks by the destroyed Habib-i Neccar mosque in the historic southern city of Antakya in Hatay, Turkey. AFP
  • Rescuers pull out a 12-year-old Syrian girl, Cudi, from the rubble in Hatay. AFP
    Rescuers pull out a 12-year-old Syrian girl, Cudi, from the rubble in Hatay. AFP
  • Amar, a Syrian refugee living in Turkey, looks on as search for survivors continues in Kahramanmaras. Reuters
    Amar, a Syrian refugee living in Turkey, looks on as search for survivors continues in Kahramanmaras. Reuters
  • Displaced people keep warm by a fire in Kahramanmaras, Turkey. Reuters
    Displaced people keep warm by a fire in Kahramanmaras, Turkey. Reuters
  • Earthquake survivors receive distributed meals in Golbasi, Turkey. AP
    Earthquake survivors receive distributed meals in Golbasi, Turkey. AP
  • A woman stands amid boxes of donated clothes in Golbasi, Turkey. AP
    A woman stands amid boxes of donated clothes in Golbasi, Turkey. AP
  • A man walks near a damaged building that leans on a neighbouring house in Golbasi, Turkey. AP
    A man walks near a damaged building that leans on a neighbouring house in Golbasi, Turkey. AP
  • UN emergency relief co-ordinator Martin Griffiths stands amid quake-damaged buildings in Aleppo, Syria. Reuters
    UN emergency relief co-ordinator Martin Griffiths stands amid quake-damaged buildings in Aleppo, Syria. Reuters
  • Delegates observe a moment of silence for the Turkey–Syria earthquake before the start of the World Government Summit in Dubai. Pawan Singh / The National
    Delegates observe a moment of silence for the Turkey–Syria earthquake before the start of the World Government Summit in Dubai. Pawan Singh / The National
  • People keep warm by a fire as the search for survivors continues a week after the earthquake in Kahramanmaras, Turkey. Reuters
    People keep warm by a fire as the search for survivors continues a week after the earthquake in Kahramanmaras, Turkey. Reuters
  • A child receives food in Kahramanmaras, Turkey. Reuters
    A child receives food in Kahramanmaras, Turkey. Reuters
  • A dog is seen through a glass door in Kahramanmaras, Turkey. Reuters
    A dog is seen through a glass door in Kahramanmaras, Turkey. Reuters
  • Children walk in the street with food boxes in Kahramanmaras, Turkey. Reuters
    Children walk in the street with food boxes in Kahramanmaras, Turkey. Reuters
  • A minaret stands as the sun rises over the earthquake-hit city of Kahramanmaras, Turkey. Reuters
    A minaret stands as the sun rises over the earthquake-hit city of Kahramanmaras, Turkey. Reuters

The support will also include first responders assisting with search and rescue, as well as continuing relief and recovery efforts.

The disaster, with a combined death toll in Turkey and Syria exceeding 37,000, has ravaged cities in both countries, leaving many survivors homeless in near-freezing winter temperatures.

It remains uncertain whether the buildings that are still standing are safe. On top of that, they have no water or electricity.

Millions of lives have been affected by the 7.8-magnitude earthquake that hit the region last Monday.

Rescue workers have slowed down their operations looking for survivors and are now focusing on assisting the thousands of displaced people.

On Tuesday night, a Syrian man, 65, and a young girl were rescued from the rubble of a building in the southern Turkish city of Antakya, 208 hours after the earthquake struck.

The UN said about nine million people in Syria were affected by the quake as it launched a $400 million funding appeal to help survivors.

Dengue%20fever%20symptoms
%3Cp%3EHigh%20fever%20(40%C2%B0C%2F104%C2%B0F)%3Cbr%3ESevere%20headache%3Cbr%3EPain%20behind%20the%20eyes%3Cbr%3EMuscle%20and%20joint%20pains%3Cbr%3ENausea%3Cbr%3EVomiting%3Cbr%3ESwollen%20glands%3Cbr%3ERash%26nbsp%3B%3C%2Fp%3E%0A
Other workplace saving schemes
  • The UAE government announced a retirement savings plan for private and free zone sector employees in 2023.
  • Dubai’s savings retirement scheme for foreign employees working in the emirate’s government and public sector came into effect in 2022.
  • National Bonds unveiled a Golden Pension Scheme in 2022 to help private-sector foreign employees with their financial planning.
  • In April 2021, Hayah Insurance unveiled a workplace savings plan to help UAE employees save for their retirement.
  • Lunate, an Abu Dhabi-based investment manager, has launched a fund that will allow UAE private companies to offer employees investment returns on end-of-service benefits.
The specs

Engine: 3.8-litre twin-turbo flat-six

Power: 650hp at 6,750rpm

Torque: 800Nm from 2,500-4,000rpm

Transmission: 8-speed dual-clutch auto

Fuel consumption: 11.12L/100km

Price: From Dh796,600

On sale: now

The%20Secret%20Kingdom%20
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Matt%20Drummond%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%20%3C%2Fstrong%3EAlyla%20Browne%2C%20Alice%20Parkinson%2C%20Sam%20Everingham%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%203%2F5%26nbsp%3B%3C%2Fp%3E%0A
THE SPECS

Engine: 6.75-litre twin-turbocharged V12 petrol engine 

Power: 420kW

Torque: 780Nm

Transmission: 8-speed automatic

Price: From Dh1,350,000

On sale: Available for preorder now

SPECS
%3Cp%3E%3Cstrong%3EEngine%3A%3C%2Fstrong%3E%20Dual%20electric%20motors%20with%20102kW%20battery%20pack%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E570hp%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ETorque%3A%3C%2Fstrong%3E%20890Nm%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERange%3A%3C%2Fstrong%3E%20Up%20to%20428km%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EOn%20sale%3A%3C%2Fstrong%3E%20Now%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh1%2C700%2C000%3C%2Fp%3E%0A
Winners

Ballon d’Or (Men’s)
Ousmane Dembélé (Paris Saint-Germain / France)

Ballon d’Or Féminin (Women’s)
Aitana Bonmatí (Barcelona / Spain)

Kopa Trophy (Best player under 21 – Men’s)
Lamine Yamal (Barcelona / Spain)

Best Young Women’s Player
Vicky López (Barcelona / Spain)

Yashin Trophy (Best Goalkeeper – Men’s)
Gianluigi Donnarumma (Paris Saint-Germain and Manchester City / Italy)

Best Women’s Goalkeeper
Hannah Hampton (England / Aston Villa and Chelsea)

Men’s Coach of the Year
Luis Enrique (Paris Saint-Germain)

Women’s Coach of the Year
Sarina Wiegman (England)

The specs

Engine: 3.9-litre twin-turbo V8
Power: 620hp from 5,750-7,500rpm
Torque: 760Nm from 3,000-5,750rpm
Transmission: Eight-speed dual-clutch auto
On sale: Now
Price: From Dh1.05 million ($286,000)

Red flags
  • Promises of high, fixed or 'guaranteed' returns.
  • Unregulated structured products or complex investments often used to bypass traditional safeguards.
  • Lack of clear information, vague language, no access to audited financials.
  • Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
  • Hard-selling tactics - creating urgency, offering 'exclusive' deals.

Courtesy: Carol Glynn, founder of Conscious Finance Coaching

First Person
Richard Flanagan
Chatto & Windus 

History's medical milestones

1799 - First small pox vaccine administered

1846 - First public demonstration of anaesthesia in surgery

1861 - Louis Pasteur published his germ theory which proved that bacteria caused diseases

1895 - Discovery of x-rays

1923 - Heart valve surgery performed successfully for first time

1928 - Alexander Fleming discovers penicillin

1953 - Structure of DNA discovered

1952 - First organ transplant - a kidney - takes place 

1954 - Clinical trials of birth control pill

1979 - MRI, or magnetic resonance imaging, scanned used to diagnose illness and injury.

1998 - The first adult live-donor liver transplant is carried out

Gender equality in the workplace still 200 years away

It will take centuries to achieve gender parity in workplaces around the globe, according to a December report from the World Economic Forum.

The WEF study said there had been some improvements in wage equality in 2018 compared to 2017, when the global gender gap widened for the first time in a decade.

But it warned that these were offset by declining representation of women in politics, coupled with greater inequality in their access to health and education.

At current rates, the global gender gap across a range of areas will not close for another 108 years, while it is expected to take 202 years to close the workplace gap, WEF found.

The Geneva-based organisation's annual report tracked disparities between the sexes in 149 countries across four areas: education, health, economic opportunity and political empowerment.

After years of advances in education, health and political representation, women registered setbacks in all three areas this year, WEF said.

Only in the area of economic opportunity did the gender gap narrow somewhat, although there is not much to celebrate, with the global wage gap narrowing to nearly 51 per cent.

And the number of women in leadership roles has risen to 34 per cent globally, WEF said.

At the same time, the report showed there are now proportionately fewer women than men participating in the workforce, suggesting that automation is having a disproportionate impact on jobs traditionally performed by women.

And women are significantly under-represented in growing areas of employment that require science, technology, engineering and mathematics skills, WEF said.

* Agence France Presse

COMPANY PROFILE

Name: Qyubic
Started: October 2023
Founder: Namrata Raina
Based: Dubai
Sector: E-commerce
Current number of staff: 10
Investment stage: Pre-seed
Initial investment: Undisclosed 

The%20specs
%3Cp%3E%3Cstrong%3EPowertrain%3A%20%3C%2Fstrong%3ESingle%20electric%20motor%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E201hp%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E310Nm%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3ESingle-speed%20auto%0D%3Cbr%3E%3Cstrong%3EBattery%3A%20%3C%2Fstrong%3E53kWh%20lithium-ion%20battery%20pack%20(GS%20base%20model)%3B%2070kWh%20battery%20pack%20(GF)%0D%3Cbr%3E%3Cstrong%3ETouring%20range%3A%20%3C%2Fstrong%3E350km%20(GS)%3B%20480km%20(GF)%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh129%2C900%20(GS)%3B%20Dh149%2C000%20(GF)%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%3C%2Fstrong%3E%20Now%3C%2Fp%3E%0A
The specs: Fenyr SuperSport

Price, base: Dh5.1 million

Engine: 3.8-litre twin-turbo flat-six

Transmission: Seven-speed automatic

Power: 800hp @ 7,100pm

Torque: 980Nm @ 4,000rpm

Fuel economy, combined: 13.5L / 100km

Who was Alfred Nobel?

The Nobel Prize was created by wealthy Swedish chemist and entrepreneur Alfred Nobel.

  • In his will he dictated that the bulk of his estate should be used to fund "prizes to those who, during the preceding year, have conferred the greatest benefit to humankind".
  • Nobel is best known as the inventor of dynamite, but also wrote poetry and drama and could speak Russian, French, English and German by the age of 17. The five original prize categories reflect the interests closest to his heart.
  • Nobel died in 1896 but it took until 1901, following a legal battle over his will, before the first prizes were awarded.
Terror attacks in Paris, November 13, 2015

- At 9.16pm, three suicide attackers killed one person outside the Atade de France during a foootball match between France and Germany- At 9.25pm, three attackers opened fire on restaurants and cafes over 20 minutes, killing 39 people- Shortly after 9.40pm, three other attackers launched a three-hour raid on the Bataclan, in which 1,500 people had gathered to watch a rock concert. In total, 90 people were killed- Salah Abdeslam, the only survivor of the terrorists, did not directly participate in the attacks, thought to be due to a technical glitch in his suicide vest- He fled to Belgium and was involved in attacks on Brussels in March 2016. He is serving a life sentence in France

The%20specs%3A%202024%20Mercedes%20E200
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E2.0-litre%20four-cyl%20turbo%20%2B%20mild%20hybrid%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E204hp%20at%205%2C800rpm%20%2B23hp%20hybrid%20boost%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E320Nm%20at%201%2C800rpm%20%2B205Nm%20hybrid%20boost%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E9-speed%20auto%0D%3Cbr%3E%3Cstrong%3EFuel%20consumption%3A%20%3C%2Fstrong%3E7.3L%2F100km%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3ENovember%2FDecember%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh205%2C000%20(estimate)%3C%2Fp%3E%0A
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

Updated: February 16, 2023, 7:04 AM