Iran's Foreign Minister Abbas Araghchi, left, with Oman's Foreign Minister Sayyid Badr Al Busaidi in Rome last month. Reuters
Iran's Foreign Minister Abbas Araghchi, left, with Oman's Foreign Minister Sayyid Badr Al Busaidi in Rome last month. Reuters
Iran's Foreign Minister Abbas Araghchi, left, with Oman's Foreign Minister Sayyid Badr Al Busaidi in Rome last month. Reuters
Iran's Foreign Minister Abbas Araghchi, left, with Oman's Foreign Minister Sayyid Badr Al Busaidi in Rome last month. Reuters

Araghchi tells IAEA Iran's nuclear programme is within terms of monitoring agreement


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Iran's Foreign Minister Abbas Araghchi said he spoke by phone with the director of the UN’s nuclear watchdog early on Sunday after a report by the agency said Tehran is increasing its stockpile of enriched uranium.

Mr Araghchi said on Telegram that during the conversation with IAEA chief Rafael Mariano Grossi he told him that all of Iran’s nuclear activities are within the framework of agreements and being monitored by the agency.

He pledged “continuous co-operation” from Iran and asked Mr Grossi to ensure “that certain parties do not exploit the agency for political agendas against the Iranian people”.

The report by the International Atomic Energy Agency, which was seen by AFP and AP on Saturday, said Iran in recent months had increased its production of highly enriched uranium.

In a separate in-depth report, the IAEA also criticised “less than satisfactory” co-operation from Tehran over scrutiny of its nuclear programme.

“While Iran continues to co-operate with the agency on matters of routine safeguards implementation, in a number of respects … its co-operation with the agency has been less than satisfactory,” the report said.

Western nations fear Iran is seeking to build a nuclear bomb, a claim Tehran denies. Iran said the IAEA report is “politically motivated and repeats baseless accusations”, state media reported on Saturday.

Iranian Foreign Minister Abbas Araghchi said the US proposal 'will be appropriately responded to'. Reuters
Iranian Foreign Minister Abbas Araghchi said the US proposal 'will be appropriately responded to'. Reuters

Iran's deputy foreign minister Kazem Gharibabadi on Sunday published a detailed response, rejecting many of the report's findings.

“So long as a country’s nuclear activities are under the IAEA’s monitoring, there is no cause for concern,” he said. “The Islamic Republic of Iran is neither pursuing nuclear weapons nor does it possess any undeclared nuclear materials or activities.”

Omani Foreign Minister Sayyid Badr Al Busaidi visited Tehran on Saturday and presented details of a US proposal for a deal on the nuclear programme to Iranian authorities, Mr Araghchi said.

Mr Araghchi said in a post on X that Sayyid Badr “paid a short visit to Tehran today to present elements of a US proposal which will be appropriately responded to in line with the principles, national interests and rights of the people of Iran”.

Iran and the US have held five rounds of talks – three in Muscat and two in Rome – mediated by the Omani Foreign Minister to resolve the decades-long dispute over Iran's nuclear programme.

Mr Araghchi's statement on X came ahead of an anticipated sixth round, a date and venue for which have not been announced.

One of the main sticking points has been US insistence that Iran give up its nuclear enrichment facilities, a demand Iran rejects. Mr Trump, who has restored a “maximum pressure” campaign on Tehran since February, ditched a 2015 nuclear pact between Tehran and six world powers in 2018 and reimposed sanctions on Iran.

In the intervening years, Tehran has overstepped limits set in the 2015 agreement on its nuclear programme, which were designed to make it harder to develop an atom bomb.

White House press secretary Karoline Leavitt on Saturday confirmed the US plan had been passed to Iran, saying US President Donald Trump's special envoy Steve Witkoff “has sent a detailed and acceptable proposal”.

Ms Leavitt said “President Trump has made it clear that Iran can never obtain a nuclear bomb”.

On Friday, Mr Trump said a deal was possible in the “not-too-distant future”. Earlier in the week, he told reporters he had recently warned Israeli Prime Minister Benjamin Netanyahu not to take action that could disrupt the talks with Iran. Those comments appeared to signal US concern that Israel might strike Iran's nuclear facilities.

But Mr Trump himself has repeatedly threatened to bomb Iran's nuclear facilities if diplomacy fails to achieve a deal.

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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Updated: June 02, 2025, 4:43 AM