Iraq will play a pivotal role in attempting to present solutions to regional crises during the Arab League summit this month, Prime Minister Mohammed Shia Al Sudani said on Friday, adding that Syria's attendance at the talks was significant.
Baghdad will host the summit on May 17, the first time it has done so in more than a decade. Regional issues such as Israel's war on Gaza, Iran-US nuclear talks and reinstating Syria's role in the Middle East are expected to be discussed.
"Iraq will not be just a host country for the Arab summit, it will take initiative in presenting solutions to the various crises and challenges confronting the region," Mr Al Sudani told local media.
The summit is expected to give Arab states the chance to negotiate on regional co-operation, reconstruction efforts and security.
The Prime Minister sent an official invitation to Syria's President Ahmad Al Shara to attend the summit, sparking sharp political divisions in Iraq. Formerly known by the nom de guerre Abu Mohammed Al Jawlani, Mr Al Shara joined Al Qaeda insurgents battling US forces in Iraq after the American-led invasion in 2003. He still faces a warrant for his arrest on terrorism charges in the country.
However, Mr Al Sudani stressed the importance of Syria’s participation in the summit. “The presence of the Syrian President is essential – regardless of the political process or the nature of the change – as it offers an opportunity to present a new vision for Syria to the Arab world,” he said.
He said the majority of "Arab states are eager to see Syria emerge from the prolonged hardship it has endured”.
Baghdad "will spare no effort in supporting Syria and in respecting its sovereign choices,” he added.
The leaders have exchanged a phone call since Mr Al Shara's takeover of Damascus in December. Despite a relatively peaceful transition of power, the new authorities are repeatedly tested by sectarian violence and Israel's interference in the country.
Many Iraqi and regional stakeholders see the invitation to the Syrian president as an opportunity to bolster Baghdad’s image as a hub for regional diplomacy.
During the past few years, Iraq, which has strong ties with the US and Iran, has sought to position itself as a regional mediator. It hosted talks between regional rivals Iran and Saudi Arabia before they reached a deal to normalise ties.
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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.
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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Favourite sport: soccer
Favourite team: Bayern Munich
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Favourite activity in Abu Dhabi: scuba diving in the Northern Emirates
Match info
Uefa Nations League Group B:
England v Spain, Saturday, 11.45pm (UAE)
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