Hikmet Hajiyev, foreign policy adviser to Azerbaijan’s president, at the Shusha Media Forum on Sunday. Pawan Singh / The National
Hikmet Hajiyev, foreign policy adviser to Azerbaijan’s president, at the Shusha Media Forum on Sunday. Pawan Singh / The National
Hikmet Hajiyev, foreign policy adviser to Azerbaijan’s president, at the Shusha Media Forum on Sunday. Pawan Singh / The National
Hikmet Hajiyev, foreign policy adviser to Azerbaijan’s president, at the Shusha Media Forum on Sunday. Pawan Singh / The National

Azerbaijan invites Armenia to Cop29 climate talks


John Dennehy
  • English
  • Arabic

Azerbaijan has invited Armenia to the Cop29 climate summit, a senior Azerbaijani official said on Sunday.

Hikmet Hajiyev, foreign policy adviser to Azerbaijan’s President Ilham Aliyev, told reporters an invitation had been extended to the country.

It comes amid an intermittent peace process to try to end a decades-long conflict between the two and when they still do not have formal diplomatic relations.

The climate talks take place in Azerbaijan’s capital, Baku, from November 11 to 22.

“I’m saying … this for the first time to international media,” Mr Hajiyev said at the 2nd Shusha Global Media Forum.

“The [Cop29 president-designate Mukhtar Babayev] … has sent a letter of invitation to the minister of foreign affairs of Armenia. We have sent a formal invitation.”

Mr Hajiyev said sending this letter when both countries did not have formal diplomatic relations gives an “illustration” of the “good will” of Azerbaijan and its “inclusive approach”.

Mr Hajiyev said Cop was a global endeavour and the crucial talks went beyond “beyond Armenia and Azerbaijan”. He said he did not know if a presidential contact would resolve the impasse but stated Cop is “about everybody”.

“Now it is the time of the government of Armenia to decide.”

Azerbaijan were only selected as hosts last year after months of political wrangling and were resolved partially after Armenia dropped its objection to Azerbaijan as hosts.

Tensions continue between both countries, however, despite peace talks over the decades-long conflict in the Nagorno-Karabakh region.

An Azerbaijan offensive in 2023 retook Karabakh prompting the exodus of more than 100,000 Armenians.

Any peace deal seeks to formalise the border between the two countries

Meanwhile, Azerbaijan has in the past few week been outlining more of its plans for the crucial climate talks.

The fossil fuel-rich state on the Caspian Sea launched a $1bn fund last Friday that is to be capitalised by contributions from the fossil fuel industry and aiming to support climate projects in developing countries.

The Cop29 presidency also launched the “Cop truce appeal” that aims to promote peace, dialogue and reconciliation more broadly.

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Homeowners and tenants are allowed to list their properties for rental by registering through the Dubai Tourism website to obtain a permit.

Tenants also require a letter of no objection from their landlord before being allowed to list the property.

There is a cost of Dh1,590 before starting the process, with an additional licence fee of Dh300 per bedroom being rented in your home for the duration of the rental, which ranges from three months to a year.

Anyone hoping to list a property for rental must also provide a copy of their title deeds and Ejari, as well as their Emirates ID.

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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Key figures in the life of the fort

Sheikh Dhiyab bin Isa (ruled 1761-1793) Built Qasr Al Hosn as a watchtower to guard over the only freshwater well on Abu Dhabi island.

Sheikh Shakhbut bin Dhiyab (ruled 1793-1816) Expanded the tower into a small fort and transferred his ruling place of residence from Liwa Oasis to the fort on the island.

Sheikh Tahnoon bin Shakhbut (ruled 1818-1833) Expanded Qasr Al Hosn further as Abu Dhabi grew from a small village of palm huts to a town of more than 5,000 inhabitants.

Sheikh Khalifa bin Shakhbut (ruled 1833-1845) Repaired and fortified the fort.

Sheikh Saeed bin Tahnoon (ruled 1845-1855) Turned Qasr Al Hosn into a strong two-storied structure.

Sheikh Zayed bin Khalifa (ruled 1855-1909) Expanded Qasr Al Hosn further to reflect the emirate's increasing prominence.

Sheikh Shakhbut bin Sultan (ruled 1928-1966) Renovated and enlarged Qasr Al Hosn, adding a decorative arch and two new villas.

Sheikh Zayed bin Sultan (ruled 1966-2004) Moved the royal residence to Al Manhal palace and kept his diwan at Qasr Al Hosn.

Sources: Jayanti Maitra, www.adach.ae

Updated: November 07, 2024, 10:09 AM