Two Iranian fighter pilots killed in accident

Two Iranian fighter jet pilots were killed on Tuesday in an accident at a military airbase in the southwest of the country, state media reported.

The report, citing an informed source, identified the pilots as Kianoush Basati and Hossein Nami, without providing their rank.

The accident happened before the F-5 plane they were in took off from the base in Dezful, the city's governor Ali Farahmandpour was quoted as saying by state news agency IRNA. Dezful is a city within the Khuzestan province of Iran.

The governor of Khuzestan province also gave a statement regarding the deaths of the two pilots.

"I ask for God's forgiveness for these two precious martyrs, exaltation and companionship with the pure Imams and patience and forbearance for their honourable families," Qassem Soleimani Dashtaki said.

The airbase was closed off and the cause of the accident, initially described as "technical", was being investigated, he added.

Mr Farahmandpour said there was no "air accident or crash" and that further details on what happened would be made public after the investigation, according to state television's website.

Iran's armed forces still mainly use aircraft purchased from the United States before the country's 1979 Islamic Revolution.

Iran had originally bought 140 F-5 jets from the US. Over half of the jets were destroyed during the 1980-1988 Iran-Iraq war and the rest have been overhauled and repaired as time goes on.

But with years of international sanctions, Iran has struggled to maintain the jets due to the increasing difficulty of purchasing new parts.

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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.

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Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

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