UN nuclear inspectors leave Iran

The UN nuclear watchdog said its inspectors left Iran on Friday after Tehran suspended co-operation with the International Atomic Energy Agency following Israeli and US strikes on its nuclear sites last month.

“An IAEA team of inspectors today safely departed from Iran to return to the agency headquarters in Vienna, after staying in Tehran throughout the recent military conflict,” the agency said in a post on X.

“IAEA director general Rafael Grossi reiterated the crucial importance of the IAEA discussing with Iran modalities for resuming its indispensable monitoring and verification activities in Iran as soon as possible,” it added.

Iran officially suspended its co-operation with the IAEA on Wednesday, when President Masoud Pezeshkian approved a law passed by parliament on June 25, the day after a ceasefire ended a 12-day aerial war with Israel.

The law aims to “ensure full support for the inherent rights of the Islamic Republic of Iran” under the nuclear Non-Proliferation Treaty, with a particular focus on uranium enrichment, according to Iranian media.

Diplomats who spoke to Reuters said the number of IAEA inspectors in Iran was reduced to a handful after the start of the war. Some also expressed concern about the inspectors' safety since the end of the conflict, given fierce criticism of the agency by Iranian officials and media, the agency reported.

Foreign Minister Abbas Araghchi said on Thursday that Iran's future dealings with the IAEA would only be through its Supreme National Security Council, while also reiterating the country's commitment to remain a party to the non-proliferation treaty.

The IAEA says Iran has not yet officially notified it of any decision to suspend co-operation.

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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

UN nuclear inspectors leave Iran

Move follows Tehran's decision to suspend co-operation with the International Atomic Energy Agency

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The years Ramadan fell in May

Ten tax points to be aware of in 2026