US President Donald Trump at an 'Invest America' discussion in the White House on June 9. AFP
US President Donald Trump at an 'Invest America' discussion in the White House on June 9. AFP
US President Donald Trump at an 'Invest America' discussion in the White House on June 9. AFP
US President Donald Trump at an 'Invest America' discussion in the White House on June 9. AFP

US-Iran nuclear talks to continue on Thursday, Trump says


Jihan Abdalla
  • English
  • Arabic

President Donald Trump on Monday said that talks for a new nuclear deal between the US and Iran would continue on Thursday.

Iran's Foreign Ministry said on its Telegram channel, however, that talks would resume on Sunday in Oman. The two nations are in discussions over a new deal that would put limits on Tehran's nuclear programme in exchange for sanctions relief.

Mr Trump cautioned that Iran has been "asking for things that you can't do" in the indirect discussions, brokered by Oman.

"They don't want to give up what they have to give up, you know what that is? They seek enrichment [of uranium]. We can't have enrichment," he said at an economic event at the White House. "They have given us their thoughts on the deal, and I said, you know, it's just not acceptable."

Washington last month submitted a proposal for a new nuclear deal, but Tehran deemed it "unacceptable". Iran is expected to present a counter-proposal soon.

"They are good negotiators but they're tough. Sometimes it can be too tough," Mr Trump said. "We're trying to make a deal so that there's no destruction and death."

The issue of Iran continuing to enrich uranium has been a major sticking point between Iranian and American negotiators. Mr Trump said last week on his Truth Social platform that "we will not allow any enrichment of uranium".

Mr Trump added that Iran was the main topic during a phone call on Monday with Israel's Prime Minister Benjamin Netanyahu.

The call came amid reports Israel was finalising plans to strike nuclear sites in the country, a threat Israel has been making for months. Last month, Mr Trump said that he warned Israel against such a move.

At the weekend, Iran claimed to have acquired a "treasure trove” of information about Israel’s nuclear weapons. Israel is widely assumed to possess such weapons, although it has never officially acknowledged it.

Mr Trump also said Iran was involved in negotiations over ending the war in Gaza.

"Gaza, right now, is in the midst of a massive negotiation between us and Hamas and Israel, and Iran actually is involved, and we'll see what's going to happen with Gaza," he said. "We want to get the hostages back."

The US has been working on mediating a new ceasefire in Gaza between Israel and Hamas, nearly three months after a fragile truce collapsed.

Since the middle of March, Israeli strikes resumed, leading to a mounting Palestinian death toll and a worsening of the enclave's already dire humanitarian situation.

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Also on December 7 to 9, the third edition of the Gulf Car Festival (www.gulfcarfestival.com) will take over Dubai Festival City Mall, a new venue for the event. Last year's festival brought together about 900 cars worth more than Dh300 million from across the Emirates and wider Gulf region – and that first figure is set to swell by several hundred this time around, with between 1,000 and 1,200 cars expected. The first day is themed around American muscle; the second centres on supercars, exotics, European cars and classics; and the final day will major in JDM (Japanese domestic market) cars, tuned vehicles and trucks. Individuals and car clubs can register their vehicles, although the festival isn’t all static displays, with stunt drifting, a rev battle, car pulls and a burnout competition.

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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What is 'Soft Power'?

Soft power was first mentioned in 1990 by former US Defence Secretary Joseph Nye. 
He believed that there were alternative ways of cultivating support from other countries, instead of achieving goals using military strength. 
Soft power is, at its root, the ability to convince other states to do what you want without force. 
This is traditionally achieved by proving that you share morals and values.

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3. North America

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Updated: June 09, 2025, 10:29 PM