Live updates: Follow the latest news on Israel-Gaza
Israeli tanks have advanced in western parts of Rafah, in the southern Gaza Strip, amid a barrage of air strikes and artillery fire that forced residents of a nearby designated safe zone to flee.
Posts on social media showed families leaving homes and tents in the coastal Al Mawasi area on Wednesday night. Dozens of people were killed or injured, the Wafa news agency reported.
The Israeli military denied launching strikes inside Al Mawasi, an area along the coast west of Rafah where it told people to go before launching a military offensive in Gaza's southernmost city in May.
Israel said its latest assault is aimed at wiping out the remaining Hamas combat units in Rafah. The military used explosives to destroy buildings in the centre of Rafah city as its forces pushed west.
More than one million Gazans were sheltering in the city, most of them displaced by bombardment and fighting in other areas after Israel launched its military offensive in Gaza in October.
Hundreds of thousands fled as Israeli forces advanced, most moving to Khan Younis, the city north of Rafah, and to Deir Al Balah in the central Gaza Strip.
The military said it was continuing “intelligence-based, targeted operations” in Rafah, and that troops found weapons and killed gunmen in close-range combat in the past day.
It said 10 Hamas fighters were killed in central Gaza, including one who took part in the October 7 attack on southern Israel that led to the war.
During the past 24 hours, Israeli jets hit 45 targets in Gaza, the military said. The strikes, including attacks on homes in Gaza city and Nuseirat in central Gaza, also killed civilians, Wafa reported.
It comes as Israel arrested at least 12 Palestinians, including a child and several former prisoners, in the occupied West Bank during raids on Thursday, the Palestinian Prisoner's Society said.
The group said the arrests were made in Hebron, Nablus, Salfit, Qalqilya and Jenin – where the raids are continuing.
Israeli forces have arrested 9,185 people in the West Bank since October 7, it added
Earlier in the day, Palestinian media reported that the Israeli military were destroyed buildings across Jenin, including in the refugee camp.
A Palestinian man was also shot when Israeli forces stormed Jenin and paramedics were reportedly prevented from reaching him. His condition remains unknown.
Videos on social media showed Israeli bulldozers pushing rubble and debris along destroyed roads.
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
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if you go
The flights
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The package
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The info
Visit www.gokorea.co.uk
Zayed Sustainability Prize
