Marcy Grossman is the Canadian Ambassador to the UAE
December 02, 2021
I am delighted to be here in the UAE, as the Ambassador of Canada, to mark this momentous occasion – the 50th anniversary of this great nation. In the short time that I have been here, I have witnessed first-hand how the UAE has charted the path towards progress and prosperity that was laid out by the country’s founders, and that has included visionary forethought, determination and strong leadership over the last 50 years.
Thousands of Canadians have made the UAE their home over the last several decades, and they have proudly contributed to the country's success. From banking to broadcasting, finance to fashion, and everything in between, Canadians have long been drawn to the dynamic business environment, the warm hospitality and the diversity that the UAE has to offer. The many friendships that have been forged along the way have expanded the strong people-to-people linkages between our two countries.
Over the last two years alone, the UAE has achieved a number of very impressive scientific firsts for the region. From the first Emirati astronaut in space to the first interplanetary satellite spearheaded by an Arab country. The world watched in awe as the Mars Hope probe launched in July 2020 and arrived successfully in February 2021 to its destination – in orbit around Mars.
Another scientific success for the UAE was Barakah, the Arab world's first multi-unit operating nuclear energy plant, a key component in the country’s energy transition. The UAE also recently became the first state in the region to commit to a plan for net-zero emissions by 2050, a target that Canada shares, as we strive to address climate change as a global community. Finally, the UAE’s science-led approach in their response to the global pandemic allowed this country to begin their economic recovery ahead of much of the globe, through their dedication to testing, public health protocols and vaccination.
Lulu Hypermarket celebrating National Day at Mushrif Mall. The National
Canada also welcomed the historic signing of the Abraham Accords in 2020, which established full diplomatic relations between Israel and the United Arab Emirates. Canada believes that these accords will contribute to enhancing stability, security and prosperity across the region. We similarly share the belief that women’s economic empowerment and the women, peace and security agenda will also serve to foster sustainable economic development and peace in the region and across the globe.
As we look ahead, Canada plans to build on its strong bilateral relationship with the UAE. We are very excited to be participating in Expo 2020 Dubai to work with the UAE on our shared priorities, as well as highlighting Canada’s innovation and creativity on a global stage.
I look forward to seeing what the next 50 years bring for the UAE and I am certain that it will include an even stronger partnership between us. Here’s to the next 50!
Squads
Pakistan: Sarfaraz Ahmed (c), Babar Azam (vc), Abid Ali, Asif Ali, Fakhar Zaman, Haris Sohail, Mohammad Hasnain, Iftikhar Ahmed, Imad Wasim, Mohammad Amir, Mohammad Nawaz, Mohammad Rizwan, Shadab Khan, Usman Shinwari, Wahab Riaz
- paid-for parking will be rolled across Abu Dhabi island on August 18
- drivers will have three working weeks leeway before fines are issued
- areas that are currently free to park - around Sheikh Zayed Bridge, Maqta Bridge, Mussaffah Bridge and the Corniche - will now require a ticket
- villa residents will need a permit to park outside their home. One vehicle is Dh800 and a second is Dh1,200.
- The penalty for failing to pay for a ticket after 10 minutes will be Dh200
- Parking on a patch of sand will incur a fine of Dh300
Terminator: Dark Fate
Director: Tim Miller
Starring: Arnold Schwarzenegger, Linda Hamilton, Mackenzie Davis
Rating: 3/5
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
Non-profit arts studio Tashkeel launched this annual initiative with the intention of supporting budding designers in the UAE. This year, three talents were chosen from hundreds of applicants to be a part of the sixth creative development programme. These are architect Abdulla Al Mulla, interior designer Lana El Samman and graphic designer Yara Habib.
The trio have been guided by experts from the industry over the course of nine months, as they developed their own products that merge their unique styles with traditional elements of Emirati design. This includes laboratory sessions, experimental and collaborative practice, investigation of new business models and evaluation.
It is led by British contemporary design project specialist Helen Voce and mentor Kevin Badni, and offers participants access to experts from across the world, including the likes of UK designer Gareth Neal and multidisciplinary designer and entrepreneur, Sheikh Salem Al Qassimi.
The final pieces are being revealed in a worldwide limited-edition release on the first day of Downtown Designs at Dubai Design Week 2019. Tashkeel will be at stand E31 at the exhibition.
Lisa Ball-Lechgar, deputy director of Tashkeel, said: “The diversity and calibre of the applicants this year … is reflective of the dynamic change that the UAE art and design industry is witnessing, with young creators resolute in making their bold design ideas a reality.”
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Wicked: For Good
Director: Jon M Chu
Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater
