• This handout picture released by the Icelandic Coast Guard on May 29, 2024 shows billowing smoke and flowing lava pouring out of a new fissure, during a surveilance flight above a new volcanic eruption on the outskirts of the evacuated town of Grindavik, western Iceland. A new volcanic eruption has begun on the Reykjanes peninsula in southwestern Iceland, the country's meteorological office said Wednesday, shortly after authorities evacuated the nearby town of Grindavik. (Photo by HANDOUT / Icelandic Coast Guard / AFP) / RESTRICTED TO EDITORIAL USE - MANDATORY CREDIT "AFP PHOTO / HANDOUT / ICELANDIC COAST GUARD " - NO MARKETING - NO ADVERTISING CAMPAIGNS - DISTRIBUTED AS A SERVICE TO CLIENTS
    This handout picture released by the Icelandic Coast Guard on May 29, 2024 shows billowing smoke and flowing lava pouring out of a new fissure, during a surveilance flight above a new volcanic eruption on the outskirts of the evacuated town of Grindavik, western Iceland. A new volcanic eruption has begun on the Reykjanes peninsula in southwestern Iceland, the country's meteorological office said Wednesday, shortly after authorities evacuated the nearby town of Grindavik. (Photo by HANDOUT / Icelandic Coast Guard / AFP) / RESTRICTED TO EDITORIAL USE - MANDATORY CREDIT "AFP PHOTO / HANDOUT / ICELANDIC COAST GUARD " - NO MARKETING - NO ADVERTISING CAMPAIGNS - DISTRIBUTED AS A SERVICE TO CLIENTS
  • Julius Malema, leader of the Economic Freedom Fighters party, speaks to the media after voting in Seshego, Limpopo province, in South Africa's general election. Bloomberg
    Julius Malema, leader of the Economic Freedom Fighters party, speaks to the media after voting in Seshego, Limpopo province, in South Africa's general election. Bloomberg
  • Spanish PM Pedro Sanchez and MPs applaud after a bill granting amnesty to those involved in Catalonia's failed independence bid in 2017 was approved, at the Parliament in Madrid. Reuters
    Spanish PM Pedro Sanchez and MPs applaud after a bill granting amnesty to those involved in Catalonia's failed independence bid in 2017 was approved, at the Parliament in Madrid. Reuters
  • People take jet skis on to the water in Teahupo'o, on the French Polynesian island of Tahiti, which will host the surfing events of the Paris 2024 Olympics. AFP
    People take jet skis on to the water in Teahupo'o, on the French Polynesian island of Tahiti, which will host the surfing events of the Paris 2024 Olympics. AFP
  • A mahout rides his elephant along a street on a hot summer day in Jaipur, as India swelters in a heatwave. AFP
    A mahout rides his elephant along a street on a hot summer day in Jaipur, as India swelters in a heatwave. AFP
  • Dani Afiouni, owner of well-being company Longevity Hub, and John Bowerman, a long-time client, are running the straightest line possible from Jebel Jais in Ras Al Khaimah to Al Qudra, a stretch of about 160km, over five days. Antonie Robertson / The National
    Dani Afiouni, owner of well-being company Longevity Hub, and John Bowerman, a long-time client, are running the straightest line possible from Jebel Jais in Ras Al Khaimah to Al Qudra, a stretch of about 160km, over five days. Antonie Robertson / The National
  • Lebanese designer Nabil Farhat poses next to an installation titled Magma Plastique and made with more than a tonne of recycled plastic, at an exhibition hall in Beirut. AFP
    Lebanese designer Nabil Farhat poses next to an installation titled Magma Plastique and made with more than a tonne of recycled plastic, at an exhibition hall in Beirut. AFP
  • Indigenous Gunas arrive at their new homes in Nuevo Carti, mainland Panama. About 300 families from Gardi Sugdub, a small Caribbean island endangered by rising sea levels, have become Panama's first climate-displaced people. AFP
    Indigenous Gunas arrive at their new homes in Nuevo Carti, mainland Panama. About 300 families from Gardi Sugdub, a small Caribbean island endangered by rising sea levels, have become Panama's first climate-displaced people. AFP
  • A voter fills out a ballot paper during the general election in Nkandla, Kwazulu Natal, South Africa. AP
    A voter fills out a ballot paper during the general election in Nkandla, Kwazulu Natal, South Africa. AP
  • Claudia Sheinbaum, Mexico's presidential candidate for the ruling Morena party, poses with supporters at her closing campaign rally, at Zocalo Square in Mexico City. AFP
    Claudia Sheinbaum, Mexico's presidential candidate for the ruling Morena party, poses with supporters at her closing campaign rally, at Zocalo Square in Mexico City. AFP
  • Before and after views of part of Rafah, southern Gaza, showing the aftermath of a recent air strike near a camp for the displaced. Maxar Technologies / AP
    Before and after views of part of Rafah, southern Gaza, showing the aftermath of a recent air strike near a camp for the displaced. Maxar Technologies / AP
  • British actress Naomi Watts attends an FYC red carpet event for Feud: Capote vs. The Swans, at the Directors Guild of America in Los Angeles. EPA
    British actress Naomi Watts attends an FYC red carpet event for Feud: Capote vs. The Swans, at the Directors Guild of America in Los Angeles. EPA
  • The Garland King is paraded through the town, a long-running annual tradition in Castleton, central England. Reuters
    The Garland King is paraded through the town, a long-running annual tradition in Castleton, central England. Reuters

News

Today's best photos: From Icelandic volcano to the Garland King

The National picks the most striking images from around the world

The National

May 30, 2024

  • English
  • Arabic

More from The National:

Wednesday's best photos: From beetle counting to an ex-Wren in a Spitfire

Tuesday's best photos: From Ed Davey's paddle boarding fall to cheese rolling

Monday's best photos: From a new Iranian parliament to farmers protesting in Brussels

Sunday's best photos: From skin-shedding cicada to Cannes Palme d'Or winner

Saturday's best photos: From a Naval Academy graduation to Cannes fashion

Friday's best photos: From a White House state dinner to the Pope's new biography

The national orchestra
Abaya trends

The utilitarian robe held dear by Arab women is undergoing a change that reveals it as an elegant and graceful garment available in a range of colours and fabrics, while retaining its traditional appeal.

The Facility’s Versatility

Between the start of the 2020 IPL on September 20, and the end of the Pakistan Super League this coming Thursday, the Zayed Cricket Stadium has had an unprecedented amount of traffic.
Never before has a ground in this country – or perhaps anywhere in the world – had such a volume of major-match cricket.
And yet scoring has remained high, and Abu Dhabi has seen some classic encounters in every format of the game.
 
October 18, IPL, Kolkata Knight Riders tied with Sunrisers Hyderabad
The two playoff-chasing sides put on 163 apiece, before Kolkata went on to win the Super Over
 
January 8, ODI, UAE beat Ireland by six wickets
A century by CP Rizwan underpinned one of UAE’s greatest ever wins, as they chased 270 to win with an over to spare
 
February 6, T10, Northern Warriors beat Delhi Bulls by eight wickets
The final of the T10 was chiefly memorable for a ferocious over of fast bowling from Fidel Edwards to Nicholas Pooran
 
March 14, Test, Afghanistan beat Zimbabwe by six wickets
Eleven wickets for Rashid Khan, 1,305 runs scored in five days, and a last session finish
 
June 17, PSL, Islamabad United beat Peshawar Zalmi by 15 runs
Usman Khawaja scored a hundred as Islamabad posted the highest score ever by a Pakistan team in T20 cricket

UAE v Gibraltar

What: International friendly

When: 7pm kick off

Where: Rugby Park, Dubai Sports City

Admission: Free

Online: The match will be broadcast live on Dubai Exiles’ Facebook page

UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)

The specs

Engine: 2.0-litre 4cyl turbo

Power: 261hp at 5,500rpm

Torque: 405Nm at 1,750-3,500rpm

Transmission: 9-speed auto

Fuel consumption: 6.9L/100km

On sale: Now

Price: From Dh117,059

Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

On Women's Day
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: May 30, 2024, 11:59 AM
Photography