Coronavirus: Uncle Sam, the world really needs you
I grew up in a time when the US wanted to lead the world, and indeed it did, but its current leader is overseeing a retreat just when we need it to stay the course
The US has always been an indispensable ally. That could be changing – not because America’s friends want it to change, but because President Donald Trump does not value alliances. Co-operation with others does not suit his "America First" mindset.
What a pity.
As a teenager in Scotland, I had American friends, sons and daughters of officers at a US Air Force base. One friend’s mother made us a snack, a sandwich that lives in my memory. It was enormous. The sandwiches at my Scottish home had cheese or meat but this American sandwich was four centimetres thick, stuffed with chicken, cheese, tomatoes and pickles – simply wonderful. That was the beginning of my love for America.
The once all-powerful US
The famous poster featuring Uncle Sam was used extensively in the First and Second World Wars to attract recruits. AFP
As children, we learned that the US Air Force was part of Nato defending us against communism, and that together with our European allies we were stronger. There was so much to admire. American businesses, music, movies, writers all seemed to lead the world. American people were among the friendliest I met anywhere. The western US – Wyoming, Arizona and the likes – really did have cowboys on horses.
And it is still true. From Bill Gates and Jeff Bezos to Google and Facebook, many of America’s greatest entrepreneurs, musicians, movie directors and novelists are world beaters.
But the America I fell in love with years ago seems destined to avoid leading the world in any of the great battles that affect us all. The US still has the most powerful military machine, but does anyone look to American leadership to solve the biggest of our problems? The global pandemic? Climate change? Providing an example of good health care for all Americans? Good governance?
Even if you disagreed with specific policies or foreign military interventions, America always tried to be – in former president Ronald Reagan’s striking phrase – a “shining city on a hill". But now? Viewing Mr Trump’s daily news conferences, the shining city on a hill looks and sounds more like grumpy, eccentric muttering to himself behind a wall.
From Bill Gates and Jeff Bezos to Google and Facebook, many of America entrepreneurs and artists are world beaters. Victor Besa / The National
There are good reasons to discuss with Beijing a better way to manage trade, revitalise the world economy and other multilateral relationships. But instead of cool-headed (and quite boring) discussions, this has now evolved – at least as far as the White House is concerned – into a blame game about coronavirus and the biggest economic slowdown of our lives.
Every country is learning lessons in dealing with the disease. Perhaps America's superb scientists will be first with a vaccine. But Mr Trump has taken his dislike of China and multilateral international institutions to new levels by cutting US funding for the World Health Organisation. The WHO now joins the United Nations, the European Union and even Nato as an organisation that he clearly finds tiresome.
In historical terms, this is like a rerun of the worst of 1920s American isolationism. It did not end well. After helping create the League of Nations, the US refused to join, pursuing an "America First" policy that only truly ended when Japan bombed the US Pacific Fleet at Pearl Harbour.
When US isolationism previously ended
The Japanese attack on Pearl Harbour on December 7, 1941 brought America out of its isolationism. The rest is history. Corbis
Now in 2020, the person whose office once proudly boasted of the President of the United States being "the leader of the free world" may be offering some kind of leadership – but the world is not following. It is no surprise that a popular US board game is called Fortress America, in which North America fights against the world. It is a strangely negative mindset for the world's strongest military power.
With Mr Trump attacking state governments run by Democrats, we are in for a nasty presidential election at the same time as scientists fear Covid-19 will be a disaster for poorer countries. It is thought likely to mutate and hit the rich world again in a second wave, perhaps this autumn. That is why international co-operation and the WHO is so necessary. That is why if American leadership fades and Mr Trump takes away American dollars, the vacuum could be filled by the very country Mr Trump is trying to punish, China.
Donald Trump's divisive politics
In difficult times, most of us need friends. Mr Trump seems to need enemies. And listening to his daily news conferences, berating journalists for asking necessary questions, offering answers that America’s scientific experts then patiently correct, it made me think of an American crooner from the past, Jim Reeves. He once sang: “Make the world go away / Get it off my shoulder / Say the things we used to say / And make the world, make it go away.”
But the world will not go away. The global economic shock and coronavirus will not go away. And much of the world would like to have our indispensable ally back.
In November, American voters can show that their country's influence does not have to decline just because its current leader is out of his depth. But for now, an American president on the brink of an economic slump who did not take coronavirus seriously at first and who still does not take climate change seriously is not a leader. He is a liability.
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MIDWAY
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Event info: The tournament in Kuwait this month is the first phase of the qualifying process for sides from Asia for the 2020 World T20 in Australia. The UAE must finish within the top three teams out of the six at the competition to advance to the Asia regional finals. Success at regional finals would mean progression to the World T20 Qualifier.
UAE’s fixtures: Fri Apr 20, UAE v Qatar; Sat Apr 21, UAE v Saudi Arabia; Mon Apr 23, UAE v Bahrain; Tue Apr 24, UAE v Maldives; Thu Apr 26, UAE v Kuwait
World T20 2020 Qualifying process:
Sixteen teams will play at the World T20 in two years’ time.
Australia have already qualified as hosts
Nine places are available to the top nine ranked sides in the ICC’s T20i standings, not including Australia, on Dec 31, 2018.
The final six teams will be decided by a 14-team World T20 Qualifier.
World T20 standings: 1 Pakistan; 2 Australia; 3 India; 4 New Zealand; 5 England; 6 South Africa; 7 West Indies; 8 Sri Lanka; 9 Afghanistan; 10 Bangladesh; 11 Scotland; 12 Zimbabwe; 13 UAE; 14 Netherlands; 15 Hong Kong; 16 Papua New Guinea; 17 Oman; 18 Ireland
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Checks continue
A High Court judge issued an interim order on Friday suspending a decision by Agriculture Minister Edwin Poots to direct a stop to Brexit agri-food checks at Northern Ireland ports.
Mr Justice Colton said he was making the temporary direction until a judicial review of the minister's unilateral action this week to order a halt to port checks that are required under the Northern Ireland Protocol.
Civil servants have yet to implement the instruction, pending legal clarity on their obligations, and checks are continuing.
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
Business Insights
As per the document, there are six filing options, including choosing to report on a realisation basis and transitional rules for pre-tax period gains or losses.
SMEs with revenue below Dh3 million per annum can opt for transitional relief until 2026, treating them as having no taxable income.
Larger entities have specific provisions for asset and liability movements, business restructuring, and handling foreign permanent establishments.
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
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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
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Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
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Pharaoh's curse
British aristocrat Lord Carnarvon, who funded the expedition to find the Tutankhamun tomb, died in a Cairo hotel four months after the crypt was opened. He had been in poor health for many years after a car crash, and a mosquito bite made worse by a shaving cut led to blood poisoning and pneumonia. Reports at the time said Lord Carnarvon suffered from “pain as the inflammation affected the nasal passages and eyes”. Decades later, scientists contended he had died of aspergillosis after inhaling spores of the fungus aspergillus in the tomb, which can lie dormant for months. The fact several others who entered were also found dead withiin a short time led to the myth of the curse.