President Sheikh Mohamed and Turkish Foreign Minister Hakan Fidan hold talks in Abu Dhabi. Photo: Wam
President Sheikh Mohamed and Turkish Foreign Minister Hakan Fidan hold talks in Abu Dhabi. Photo: Wam
President Sheikh Mohamed and Turkish Foreign Minister Hakan Fidan hold talks in Abu Dhabi. Photo: Wam
President Sheikh Mohamed and Turkish Foreign Minister Hakan Fidan hold talks in Abu Dhabi. Photo: Wam

President Sheikh Mohamed and Turkey's Foreign Minister call for Gaza ceasefire


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President Sheikh Mohamed and Turkish Foreign Minister Hakan Fidan stressed the need for an immediate ceasefire in the Gaza Strip during talks in Abu Dhabi.

They urged the international community to take decisive action to deliver a "just, comprehensive and lasting peace" in the besieged enclave and to address the worsening humanitarian crisis, state news agency Wam reported.

They also emphasised the importance of pursuing a two-state solution to the crisis during the meeting on Thursday at Qasr Al Shati.

The death toll from the conflict in Gaza stands has passed 34,900, with more than 78,500 injured, the enclave's health authorities said. The war began after Hamas-led attacks on southern Israel on October 7 that killed about 1,200.

Sheikh Mohamed and Mr Fidan also explored ways to further bolster ties between their countries. The UAE and Turkey signed a comprehensive economic partnership agreement in March last year in an effort to strengthen trade links.

Mr Fidan conveyed the sympathies of Turkish President Recep Tayyip Erdogan to Sheikh Mohamed after the death of Sheikh Hazza bin Sultan bin Zayed on Thursday.

The meeting at Qasr Al Shati was attended by Sheikh Mansour bin Zayed, Vice President, Deputy Prime Minister and Chairman of the Presidential Court; Sheikh Hamdan bin Mohamed; Sheikh Mohammed bin Hamad, Adviser for Special Affairs at the Ministry of Presidential Court, and Ali Al Shamsi, Secretary General of the Supreme Council for National Security.

Growing ties

Sheikh Abdullah bin Zayed, Minister of Foreign Affairs, at a working dinner with Turkish Foreign Minister Hakan Fidan. Photo: Wam
Sheikh Abdullah bin Zayed, Minister of Foreign Affairs, at a working dinner with Turkish Foreign Minister Hakan Fidan. Photo: Wam

Mr Fidan also held talks on Thursday with Sheikh Abdullah bin Zayed, Minister of Foreign Affairs, during a working dinner in the UAE capital.

They emphasised the importance of securing a ceasefire in the Israel-Gaza war and limiting the suffering of the Palestinian people.

The robust economic ties between the countries was also high on the agenda. Sheikh Abdullah hailed the steady growth in the volume of non-oil trade between the nations, which increased by 103.7 per cent in 2023.

Turkey's share in the UAE's total foreign trade rose to 5.1 per cent last year, making it the fasting growing among the Emirates' top 10 trading partners.

“This significant development in non-oil trade exchange is the result of the comprehensive economic partnership agreement signed by the two countries on March 3, 2023, which entered into force on September 1 of the same year,” Sheikh Abdullah said.

Countries recognising Palestine

France, UK, Canada, Australia, Portugal, Belgium, Malta, Luxembourg, San Marino and Andorra

 

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Living in...

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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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Director: Rupert Wyatt

Rating: 3/5

The 12 breakaway clubs

England

Arsenal, Chelsea, Liverpool, Manchester City, Manchester United, Tottenham Hotspur

Italy
AC Milan, Inter Milan, Juventus

Spain
Atletico Madrid, Barcelona, Real Madrid

How to wear a kandura

Dos

  • Wear the right fabric for the right season and occasion 
  • Always ask for the dress code if you don’t know
  • Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work 
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UAE squad

Humaira Tasneem (c), Chamani Senevirathne (vc), Subha Srinivasan, NIsha Ali, Udeni Kuruppuarachchi, Chaya Mughal, Roopa Nagraj, Esha Oza, Ishani Senevirathne, Heena Hotchandani, Keveesha Kumari, Judith Cleetus, Chavi Bhatt, Namita D’Souza.

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THE BIO

Ambition: To create awareness among young about people with disabilities and make the world a more inclusive place

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Favourite singer: Avril Lavigne

Favourite travel destination: Germany and Saudi Arabia

Family: Six sisters

BUNDESLIGA FIXTURES

Friday (UAE kick-off times)

Cologne v Hoffenheim (11.30pm)

Saturday

Hertha Berlin v RB Leipzig (6.30pm)

Schalke v Fortuna Dusseldof (6.30pm)

Mainz v Union Berlin (6.30pm)

Paderborn v Augsburg (6.30pm)

Bayern Munich v Borussia Dortmund (9.30pm)

Sunday

Borussia Monchengladbach v Werder Bremen (4.30pm)

Wolfsburg v Bayer Leverkusen (6.30pm)

SC Freiburg v Eintracht Frankfurt (9on)

Labour dispute

The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.


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Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

The Vile

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Director: Majid Al Ansari

Rating: 4/5

Scoreline

Ireland 16 (Tries: Stockdale Cons: Sexton Pens: Sexton 3)

New Zealand 9 (Pens: Barrett 2 Drop Goal: Barrett)

Pharaoh's curse

British aristocrat Lord Carnarvon, who funded the expedition to find the Tutankhamun tomb, died in a Cairo hotel four months after the crypt was opened.
He had been in poor health for many years after a car crash, and a mosquito bite made worse by a shaving cut led to blood poisoning and pneumonia.
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Tour de France

When: July 7-29

UAE Team Emirates:
Dan Martin, Alexander Kristoff, Darwin Atapuma, Marco Marcato, Kristijan Durasek, Oliviero Troia, Roberto Ferrari and Rory Sutherland

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Always use only regulated platforms

Stop all transactions and communication on suspicion

Save all evidence (screenshots, chat logs, transaction IDs)

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Courtesy: Crystal Intelligence

The five pillars of Islam

1. Fasting 

2. Prayer 

3. Hajj 

4. Shahada 

5. Zakat 

Updated: May 10, 2024, 5:23 AM