Missiles fired from Iran in retaliation for Israeli attacks over Hebron in the occupied West Bank on June 21, 2025. Getty Images
Missiles fired from Iran in retaliation for Israeli attacks over Hebron in the occupied West Bank on June 21, 2025. Getty Images
Missiles fired from Iran in retaliation for Israeli attacks over Hebron in the occupied West Bank on June 21, 2025. Getty Images
Missiles fired from Iran in retaliation for Israeli attacks over Hebron in the occupied West Bank on June 21, 2025. Getty Images

Iran and Israel trade more strikes as air war enters second week


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Israel and Iran entered a second week of hostilities with air strikes overnight, amid growing uncertainty over US President Donald Trump’s willingness to intervene in the conflict and his dismissal of European diplomatic efforts to solve the crisis.

Israel attacked several sites in central Iran on Saturday, including the nuclear centre in Isfahan, the semi-official Fars News reported. There were no casualties or leaks of hazardous materials, it said. The Israeli military earlier confirmed it had detected missile launches from Iran and was working to intercept them.

Shortly after 2.30am local time, air raid sirens sounded across parts of Israel, including Tel Aviv and the occupied West Bank.

Israel's Defence Minister Israel Katz said on Saturday that the military had killed a commander in the Iranian Islamic Revolutionary Guard Corps' overseas arm in a strike on an apartment block in the Iranian city of Qom.

The commander, Saeed Izadi, led the Palestine corps of the Quds Force, Mr Katz said in a statement.

The Israeli military later said that it killed a second commander of the IRGC's overseas arm, who it said was Benham Shariyari, by an attack on his vehicle overnight in western Tehran.

It said the commander “was responsible for all weapons transfers from the Iranian regime to its proxies across the Middle East”.

There was no confirmation from the IRGC on the killing of the two men.

Israeli foreign minister Gideon Saar said, in an interview published Saturday, by the country's own assessment it had "already delayed for at least two or three years the possibility for them [Iran] to have a nuclear bomb".

"We will do everything that we can do there in order to remove this threat," Mr Saar told German newspaper Bild, asserting Israel's onslaught would continue.

Tehran said, a day before, it would not negotiate over its nuclear programme while under threat following efforts by Europe to keep peace talks alive.

Iran's Foreign Minister Abbas Araghchi met his counterparts from Britain, France and Germany, known as the E3, in Geneva on Friday.

Speaking shortly after the meeting, Mr Trump appeared to dismiss European diplomatic efforts. “We've been speaking to Iran and we'll see what happens,” he said, adding that he believed that talks in Geneva had not been successful.

The IRGC said five of its members had been killed in attacks on Khorramabad, according to Iranian media reports that did not mention Mr Izadi, who was on US and British sanctions lists.

Iranian media had said earlier on Saturday that Israel had attacked a building in Qom, with initial reports of a 16-year-old killed and two people injured.

The Israeli military said it had launched a wave of attacks against missile storage and launch infrastructure sites in Iran.

Israel began attacking Iran on June 13, saying its longtime enemy was on the verge of developing nuclear weapons. Iran, which says its nuclear programme is only for peaceful purposes, retaliated with missile and drone strikes on Israel.

Israel is widely assumed to possess nuclear weapons. It neither confirms nor denies this.

With agencies

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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Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry 

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Rohan Mustafa, Ashfaq Ahmed, Chirag Suri, Rameez Shahzad, Shaiman Anwar, Adnan Mufti, Mohammed Usman, Ghulam Shabbir, Ahmed Raza, Qadeer Ahmed, Amir Hayat, Mohammed Naveed and Imran Haider.

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Co-founders of the company: Vilhelm Hedberg and Ravi Bhusari

Launch year: In 2016 ekar launched and signed an agreement with Etihad Airways in Abu Dhabi. In January 2017 ekar launched in Dubai in a partnership with the RTA.

Number of employees: Over 50

Financing stage: Series B currently being finalised

Investors: Series A - Audacia Capital 

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Stars:Robert Pattinson

Director:Matt Reeves

Rating: 5/5

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Updated: June 21, 2025, 11:16 AM