Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence, on Friday launched a global humanitarian project in honour of his brother Sheikh Rashid bin Mohammed, on the 10th anniversary of his death.
Sheikh Hamdan said the Rashid Villages initiative – which aims to provide underprivileged families with access to housing, education, health care and social services – would further his brother's legacy of compassion and generosity.
Sheikh Rashid, the eldest son of Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, died aged 33 on September 19, 2015 of a heart attack.
At the time, Sheikh Hamdan said he had “lost a best friend and a childhood companion” and he has continued to celebrate Sheikh Rashid's life in the years since.
“My brother’s impact will remain alive through Dubai’s humanitarian projects and initiatives that carry hope and goodness to the world,” Sheikh Hamdan said, in remarks shared by Dubai Media Office on Friday.
“Today, we launch Rashid Villages, an ambitious humanitarian initiative that bears the name of my late brother, a lasting tribute to his profound humanitarian legacy and a testament to the values that defined his life, ensuring that his impact endures both in Dubai and beyond.”
Improving lives
The first Rashid Village will be constructed in Kenya, over an area of 72 dunums (7.2 hectares), following sustainable principles that prioritise the use of renewable energy sources.
It will include fully furnished homes, a school serving 320 pupils, access to digital learning to plug gaps in education, and a health centre.
The philanthropic plan will also see the construction of a large mosque, a multipurpose hall with a capacity of over 500 people to host events and community activities, a football pitch and a sports academy.
The village will benefit from endowment-based commercial outlets to stimulate economic activity and provide sustainable income sources.
It will be developed with comprehensive infrastructure such as fire alarm systems, surveillance cameras to ensure security and safety, and a modern lighting network powered by solar panels.
The village is expected to benefit about 1,700 people, helping to transform lives and give new hope to hundreds of families.
The initiative will continue to expand its humanitarian impact by building a model village every year, further celebrating the legacy of Sheikh Rashid.
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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2020 Oscars winners: in numbers
- Parasite – 4
- 1917– 3
- Ford v Ferrari – 2
- Joker – 2
- Once Upon a Time ... in Hollywood – 2
- American Factory – 1
- Bombshell – 1
- Hair Love – 1
- Jojo Rabbit – 1
- Judy – 1
- Little Women – 1
- Learning to Skateboard in a Warzone (If You're a Girl) – 1
- Marriage Story – 1
- Rocketman – 1
- The Neighbors' Window – 1
- Toy Story 4 – 1
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German intelligence warnings
- 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
- 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
- 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250
Source: Federal Office for the Protection of the Constitution
Terror attacks in Paris, November 13, 2015
- At 9.16pm, three suicide attackers killed one person outside the Atade de France during a foootball match between France and Germany
- At 9.25pm, three attackers opened fire on restaurants and cafes over 20 minutes, killing 39 people
- Shortly after 9.40pm, three other attackers launched a three-hour raid on the Bataclan, in which 1,500 people had gathered to watch a rock concert. In total, 90 people were killed
- Salah Abdeslam, the only survivor of the terrorists, did not directly participate in the attacks, thought to be due to a technical glitch in his suicide vest
- He fled to Belgium and was involved in attacks on Brussels in March 2016. He is serving a life sentence in France
