US President Donald Trump on Tuesday said he would make a “very, very big” announcement before his trip to the Gulf next week, without specifying the subject.
At the Oval Office during a meeting with Canadian Prime Minister Mark Carney, Mr Trump said the announcement would be “as big as it gets”.
“I won't tell you on what, but it's going to be … very positive,” Mr Trump said.
His comments come after Middle East envoy Steve Witkoff on Monday hinted at a breakthrough in the administration's efforts to expand the Abraham Accords, the treaty that normalised relations between Israel and four Arab countries: the UAE, Bahrain, Morocco and Sudan.
“There are many efforts under way — humanitarian aid initiatives for Gaza, which we applaud, the expansion of the Abraham Peace Accords, which we think will have some or a lot of announcements very, very shortly," Mr Witkoff said during an event in Washington marking Israel's Independence day.
He said "great progress" was expected by next year.
Mr Trump said the announcement would be made "on Thursday, Friday or Monday" before he leaves for Saudi Arabia, followed by stops in Qatar and the UAE.
“It will be one of the most important announcements to have been made in many years about a certain subject, a very important subject,” he said.
The President later added that “it's not necessarily on trade”.
Last month, Mr Trump said he may deserve the Nobel Peace Prize for advancing the Abraham Accords in his first term, and that he would continue to work to bring other countries on board.
The Trump administration primarily wants Saudi Arabia, one of its strongest allies and economic partners in the region, to establish relations with Israel.
Mr Trump's visit to the Gulf is expected to focus on securing economic deals. But the trip comes amid several global crises, including Russia's war on Ukraine, the conflict in Gaza, upheaval in Syria and US tension with Iran.
Mr Trump was speaking after he claimed Yemen's Houthis had “capitulated” and that the US would halt air strikes against the Iran-backed group.
More from Neighbourhood Watch:
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
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
How to apply for a drone permit
- Individuals must register on UAE Drone app or website using their UAE Pass
- Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
- Upload the training certificate from a centre accredited by the GCAA
- Submit their request
What are the regulations?
- Fly it within visual line of sight
- Never over populated areas
- Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
- Users must avoid flying over restricted areas listed on the UAE Drone app
- Only fly the drone during the day, and never at night
- Should have a live feed of the drone flight
- Drones must weigh 5 kg or less
MATCH INFO
Everton v Tottenham, Sunday, 8.30pm (UAE)
Match is live on BeIN Sports
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Naga
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What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
Sarfira
Director: Sudha Kongara Prasad
Starring: Akshay Kumar, Radhika Madan, Paresh Rawal
Rating: 2/5
The biog
Favourite films: Casablanca and Lawrence of Arabia
Favourite books: Start with Why by Simon Sinek and Good to be Great by Jim Collins
Favourite dish: Grilled fish
Inspiration: Sheikh Zayed's visionary leadership taught me to embrace new challenges.
