Perfumers will pay millions for specific scents, sometimes from the most unlikely sources. Getty
Perfumers will pay millions for specific scents, sometimes from the most unlikely sources. Getty
Perfumers will pay millions for specific scents, sometimes from the most unlikely sources. Getty
Perfumers will pay millions for specific scents, sometimes from the most unlikely sources. Getty

How our noses turn fishermen into millionaires


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On February 13, about 30 kilometres out into the Gulf of Aden, four Yemeni fishermen discovered a lifeless sperm whale. Working with other local seamen, they hauled the bloated carcass to a local beach. What happened next would make for a great film. This motley crew of mariners gutted the whale and discovered a motherlode of ambergris, a waxy blob of whale excrement, weighing around 127 kilograms. Highly valued by the perfume industry, ambergris fetches up to $20,000/kg. These mariners could become millionaires.

Why would anyone pay so much for whale excrement, though? Firstly, ambergris is incredibly rare. Only an estimated one per cent of sperm whales (declared an endangered species in 1970) produce this waxy substance. Secondly, and more importantly, in the hands of artisanal perfumers, ambergris is transformed into a prized fragrance.

Humanity has a longstanding love affair with all things fragrant. We have always been happy to exchange silver and gold for colourless scents that vanish in the wind. For example, Pliny the Younger, the Roman politician and prolific letter writer, ranted about how much perfumes (especially Yemeni frankincense) were costing Rome. "By the lowest reckoning India, China, and the Arabian Peninsula take from our empire 100 million sesterces [a Roman currency] every year – that is the sum our luxuries and our women cost us," he wrote.

The great North African explorer, Ibn Battuta, makes similar observations about the Gulf Arabs of the 14th century, writing: "they will spend the night hungry in order to buy perfumes with the price of their food… When one of these women goes away, the odour of the perfume clings to the place after she has gone.”

Fishermen in Aden pose around the ambergris they recovered from a dead whale they found at sea on February 13, 2021. Ali Mahmood for The National
Fishermen in Aden pose around the ambergris they recovered from a dead whale they found at sea on February 13, 2021. Ali Mahmood for The National

Our love of perfume remains as strong as ever, and in few places is this more apparent than in the UAE. Google Trends, which tracks the popularity of online search terms, has found that over the past five years, no place on the planet has searched the term "perfume" more than the UAE.

What lies at the heart of our fondness for fine fragrances? Perhaps it is related to the close connection between our sense of smell and our emotions. Scents go straight to a part of the brain called the olfactory bulb. The nose literally has a direct line to the brain – no middleman. In turn, the olfactory bulb connects to the amygdala and the hippocampus, bits of wetware (i.e. brain) involved in emotional responses and memories. Scents, sights and sounds can trigger equally accurate memories, but fragrances give rise to the most emotional ones. Rediscovering the smell of a lost loved one on a hairbrush can provoke far more emotion than an old photograph.

Given the link between scents and emotion, it is hardly surprising that scent marketing has become such a powerful tool in recent years. Emotions move us, and they can nudge us towards buying things. Scent can be a real deal-sealer. Alan Hirsch, the Smell & Taste Treatment & Research Foundation's neurological director, argues that "smell has a greater impact on purchasing than everything else combined". In a move that acknowledges this link, the new Mercedes S class car now has its own signature scent. Its air filtering system uses an ioniser to improve overall air quality before infusing the cabin with the unique S-Class fragrance – mood management on the move.

This relationship between scents and sentiment is further illustrated by the high rates of depression and anxiety among people with an impaired sense of smell, also known as anosmia (complete loss) and hyposmia (partial loss). More common than blindness and profound deafness, anosmia can have severe emotional implications. A UK study, published in the journal Chemical Senses in 2014, reported elevated rates of depression (43 per cent) and anxiety (45 per cent) among people experiencing various forms of anosmia. This, by the way, makes it all the more alarming that anosmia has been reported as a symptom of Covid-19.

We have always been happy to exchange silver and gold for colourless scents that vanish in the wind

Scents give us pleasure, and a reduced ability to smell them deprives us of this. But why are certain fragrances pleasurable in the first place?

Here we have to look to our personal history and perhaps the evolutionary past. Many of the smells we universally dislike, such as spoiled food, are associated with illness risk; there is an obvious survival value in detesting such odours. Similarly, the fragrances we widely find pleasurable, such as fruits and plants, can be associated with nutrition, shelter and survival.

Our culture and personal life experiences, however, will further refine our odour preferences. Certain cultural groups might prize certain odours that others find objectionable – smelly cheese, for example. We may even come to identify specific groups with a particular scent. When the Japanese encountered the Europeans after more than a century of seclusion, they called the Europeans bata-kusai: "smells like butter". On a personal level, we also learn to love or hate smells associated with emotional memories, such as that hospital smell or the aroma of fresh-cut grass.

Like the emotions they evoke, fragrances can be hard to put into words. Those who describe the scent of ambergris, however, frequently refer to the sea. The author Katy Kelleher describes it as "sweet, yet rather marine, like vanilla and unrefined sugar mixed with seawater". I can see how such a fragrance might evoke happy childhood memories of trips to the seaside. For the Yemeni fishermen who discovered 127kg of floating gold, eau de ambergris is likely to create a whole new set of happy memories.

Justin Thomas is a professor of psychology at Zayed University and a columnist for The National

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Richard Flanagan
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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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Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

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