Iran and Israel launched tit-for-tat strikes on Friday night and the early hours of Saturday.
Israel launched what it called a "pre-emptive" strike early on Friday, hitting nuclear and military sites inside Iran.
Red alerts were issued throughout Israel, with the military saying that Iran had launched a round of missiles.
“The defence systems are working to intercept the threat,” the military said in a post on social media. “You must enter the protected areas and remain there until further notice.”
Explosions were reported in Tel Aviv as missiles hit. The military said "dozens" of missiles had been launched against areas across the country and some were intercepted.
Earlier, buildings burned following an attack that killed one person, according to local media, and left at least 34 injured.
Israel's military said less than 100 missiles were launched at the country. Most were intercepted by air defence systems or failed to reach their targets, the military said.
Army spokesman Brig Gen Effie Defrin said buildings had been hit.
“Further interceptions may occur, and we are taking action to eliminate this threat,” he said. Israel's fire service said it was dealing with “several major incidents” mainly in the Tel Aviv area as a result of Iranian missile fire.
The wave of strikes came after Israel began its latest attack on Iran.
About an hour earlier, air defences were activated as the strikes targeted Tehran, according to state media and local residents.
A resident of Tehran sent The National a video in which the sound of explosions could be heard along with lights in the night sky.
“It is a huge wave,” said the resident, who was unable to identify what sites in the city were being attacked.
Some of the weapons were intercepted by air defences, while others hit, the resident added.
The Fars and Irna news agencies said air defences were activated in response to a missile and drone attack on the Iranian capital.
Iran's ambassador to the UN said 78 people, many of them civilians, had been killed in the strikes so far.
Earlier, in a televised speech, Iran's supreme leader Ayatollah Ali Khamenei promised that “the Islamic Republic will prevail over the Zionist regime”.
“Don’t think that they [Israel] hit and it’s over. No. They started the work and started the war. We will not allow them to escape safely from this great crime they committed,” Mr Khamenei said.
“A big error, a mistake, and the consequences of it will make it miserable, God willing. Our armed forces are ready, and the country's officials and all members of the public are behind the armed forces.”
if you go
The flights
Etihad, Emirates and Singapore Airlines fly direct from the UAE to Singapore from Dh2,265 return including taxes. The flight takes about 7 hours.
The hotel
Rooms at the M Social Singapore cost from SG $179 (Dh488) per night including taxes.
The tour
Makan Makan Walking group tours costs from SG $90 (Dh245) per person for about three hours. Tailor-made tours can be arranged. For details go to www.woknstroll.com.sg
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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MATCH INFO
Liverpool 2 (Van Dijk 18', 24')
Brighton 1 (Dunk 79')
Red card: Alisson (Liverpool)
RESULT
RS Leipzig 3
Marcel Sabitzer 10', 21'
Emil Forsberg 87'
Tottenham 0
