Live updates: Follow the latest on Donald Trump’s inauguration
Leaders from around the world congratulated new US President Donald Trump on Monday as he officially took office. Middle East leaders including UAE President Sheikh Mohamed wished Mr Trump and his administration well after the inauguration.
"I wish him and his administration success and I look forward to working with him to further advance UAE-US strategic relations and promote regional peace and stability," Sheikh Mohamed wrote in a post on X.
Israeli Prime Minister Benjamin Netanyahu also sent his congratulations, saying that Mr Trump's first presidency included "groundbreaking moments in the history of the great alliance between our two countries", citing the Abraham Accords and withdrawing from the Iran nuclear deal.
"On behalf of the people of Israel, I also want to thank you for your efforts in helping free Israeli hostages. I look forward to working with you to return the remaining hostages, to destroy Hamas' military capabilities and end its political rule in Gaza, and to ensure that Gaza never again poses a threat to Israel," Mr Netanyahu said.
Palestinian President Mahmoud Abbas sent a message to Mr Trump carried by the news agency Wafa, saying: "We stand ready to work with you to achieve peace during your tenure, guided by the two-state solution based on international legitimacy. This vision seeks the establishment of the state of Palestine and the state of Israel living side by side in peace and security.”
King Abdullah II of Jordan wished Mr Trump "every success as he commences his second term".
"Congratulations on your inauguration, Mr President. We greatly value our partnership with the United States and are committed to working with you towards a more prosperous and peaceful world," he said in a post on X.
In Europe, Mr Trump's inauguration was also met with congratulations. UK Prime Minister Keir Starmer said: "The special relationship between the UK and the US will continue to flourish for years to come."
In a rare move, Mr Trump extended invitations to several current and former world leaders, one of them being former conservative UK prime minister Boris Johnson.
German Chancellor Olaf Scholz said: "The US is our closest ally and the aim of our policy is always a good transatlantic relationship."
Ukraine's President Volodymyr Zelenskyy said on X that Mr Trump "is always decisive, and the peace-through-strength policy he announced provides an opportunity to strengthen American leadership and achieve a long-term and just peace, which is the top priority".
Before the inauguration, Russian President Vladimir Putin offered his own congratulations, saying: "Moscow is open for dialogue with the United States that will be built on an equal and mutually respectful basis."
In India, Prime Minister Narendra Modi congratulated Mr Trump on his "historic" inauguration, saying he looked forward "to working closely together once again, to benefit both our countries, and to shape a better future for the world".
Pakistan's Prime Minister Shehbaz Sharif said he also looks forward to working with Mr Trump to strengthen the "enduring Pakistan-US partnership".
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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Marie Byrne, a counsellor who volunteers at the UAE government's mental health crisis helpline, said the ordeal the crew had been through would take time to overcome.
“It was worse than a prison sentence, where at least someone can deal with a set amount of time incarcerated," she said.
“They were living in perpetual mystery as to how their futures would pan out, and what that would be.
“Because of coronavirus, the world is very different now to the one they left, that will also have an impact.
“It will not fully register until they are on dry land. Some have not seen their young children grow up while others will have to rebuild relationships.
“It will be a challenge mentally, and to find other work to support their families as they have been out of circulation for so long. Hopefully they will get the care they need when they get home.”
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Are they open to only Emiratis? The awards are open to anyone, regardless of age or nationality, living anywhere in the world.
When do nominations close? The process concludes on December 31.
How do I nominate someone? Through the website.
When is the ceremony? The awards event will take place early next year.
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