Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi, has approved the first housing benefits package of the year.
Valued at Dh2.18 billion ($590 million), the benefits will be distributed among 1,502 of the emirate’s citizens.
The package includes housing loans, ready-built houses and residential land grants totalling Dh2.082 billion for 1,407 citizens.
Under the plan, senior citizens, retired people with limited incomes and the families of deceased citizens have been exempted from housing loan payments, amounting to more than Dh98 million for 95 Emiratis.
The housing support is being delivered under the directives of President Sheikh Mohamed, in his capacity as Ruler of Abu Dhabi.
“This further reiterates our unwavering commitment to enhancing the housing sector for citizens in the emirate, in line with the vision of our leadership and their aspirations to enhance the quality of life for the people of our nation,” said Mohamed Al Shorafa, chairman of the board of directors of Abu Dhabi Housing Authority.
The move brings the total value of housing benefits disbursed in the capital since the establishment of the Abu Dhabi Housing Authority in 2012 to Dh149 billion.
UAE leaders regularly rubber-stamp housing benefit projects to boost the quality of life of Emiratis across the country.
Last month, a Dh3.5 billion plan to offer 1,146 villas to citizens was launched in Abu Dhabi, when Sheikh Khaled approved the Yas Canal project for Al Raha Beach. It is expected to be completed in the last quarter of 2027.
The latest financial package will coincide with the country's celebrations for Eid Al Fitr, the religious festival which marks the end of Ramadan.
Eid Al Fitr will begin in the Emirates on either Tuesday or Wednesday, with the official date to be confirmed by the sighting of the crescent moon.
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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1971
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Friday, September 22
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- £250m to train new AI models
