Ordinarily, news of a UN Security Council resolution calling for an immediate halt to a war and backing a viable peace plan would be greeted with relief. This would be particularly true for a conflict as brutal as the one in Gaza, where reports of Israeli military massacres, mass graves and starving civilians emerge almost daily. But the global reaction to the news coming out of New York has been muted, to say the least. There is little sense that a halt to the violence is imminent. On the contrary, the suffering goes on, including that of the remaining Israeli hostages and Palestinian prisoners of war
When it comes to Gaza there are two parallel worlds: what’s discussed behind closed doors by diplomats and mediators, and the brutal realities on the ground. Nevertheless, with the war entering its ninth month, US President Joe Biden’s three-phase ceasefire plan remains the only initiative his government, Israel’s main backer, supports – and that quality alone might lend it an air of achievability. It is not perfect, but it is something to work with.
Nonetheless, questions remain and, if the proposal is to be converted into concrete action, they cannot be ignored for long. Key among these is whether Israel is truly on board with Mr Biden’s plan. According to the text of the resolution, Israel has already accepted the terms. They include, as Mr Biden described them in a speech on May 31, a ceasefire pending negotiations for at least six weeks, during which time mediators would help secure the release of “a number of hostages”, Israeli forces would withdraw from populated areas and Palestinian civilians would receive aid. Successful negotiations, covering “a number of details”, would enable a move to phase two, which is a “cessation of hostilities permanently”.
But in the Security Council chamber on Monday, Israel’s representative to the UN, Reut Shapir Ben Naftaly, said the war would continue “until all of the hostages are returned and until Hamas’ military and governing capabilities are dismantled”.
This runs counter to Mr Biden’s speech, which made no mention of eradicating Hamas. Mr Biden instead said Israel had already “devastated Hamas forces”, leaving the militants unable to carry out another October 7-type attack. He went on to say an “indefinite war in pursuit of an unidentified notion of ‘total victory’” would not secure the release of Israeli hostages, nor bring “an enduring defeat of Hamas”.
Questions also remain about the enforcement of this Security Council resolution. The Council’s resolutions are legally binding, but that means little if its members are unwilling to give force to their demands through sanctions or other punitive measures. It has become routine for countries, including Israel, to ignore the Council’s resolutions without consequence. Although the UN remains an invaluable global institution, the distance between its processes and the reality playing out in conflict zones such as Gaza appears only to be growing. Without an effective implementation mechanism, the value of UN resolutions is reduced dramatically.
Indeed, in this other parallel world of violence and displacement, priorities are very different. Yesterday saw a major international conference take place in Jordan, focused on dealing with Gaza’s immense humanitarian catastrophe, where more than 200 people lost their lives in just one night during the Israeli raid to rescue four hostages. Meanwhile, hunger continues to stalk the land as the World Food Programme said it would halt deliveries that rely on a US-built pier on security grounds.
As this catastrophe plays out, and Israel’s political leadership appears to be in disarray, the need for diplomatic solutions has never been greater. But at some point, these parallel worlds will have to come together.
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
Dust and sand storms compared
Sand storm
- Particle size: Larger, heavier sand grains
- Visibility: Often dramatic with thick "walls" of sand
- Duration: Short-lived, typically localised
- Travel distance: Limited
- Source: Open desert areas with strong winds
Dust storm
- Particle size: Much finer, lightweight particles
- Visibility: Hazy skies but less intense
- Duration: Can linger for days
- Travel distance: Long-range, up to thousands of kilometres
- Source: Can be carried from distant regions
Company%C2%A0profile
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How to avoid crypto fraud
- Use unique usernames and passwords while enabling multi-factor authentication.
- Use an offline private key, a physical device that requires manual activation, whenever you access your wallet.
- Avoid suspicious social media ads promoting fraudulent schemes.
- Only invest in crypto projects that you fully understand.
- Critically assess whether a project’s promises or returns seem too good to be true.
- Only use reputable platforms that have a track record of strong regulatory compliance.
- Store funds in hardware wallets as opposed to online exchanges.
Herc's Adventures
Developer: Big Ape Productions
Publisher: LucasArts
Console: PlayStation 1 & 5, Sega Saturn
Rating: 4/5
Newcastle United 0 Tottenham Hotspur 2
Tottenham (Alli 61'), Davies (70')
Red card Jonjo Shelvey (Newcastle)
Find the right policy for you
Don’t wait until the week you fly to sign up for insurance – get it when you book your trip. Insurance covers you for cancellation and anything else that can go wrong before you leave.
Some insurers, such as World Nomads, allow you to book once you are travelling – but, as Mr Mohammed found out, pre-existing medical conditions are not covered.
Check your credit card before booking insurance to see if you have any travel insurance as a benefit – most UAE banks, such as Emirates NBD, First Abu Dhabi Bank and Abu Dhabi Islamic Bank, have cards that throw in insurance as part of their package. But read the fine print – they may only cover emergencies while you’re travelling, not cancellation before a trip.
Pre-existing medical conditions such as a heart condition, diabetes, epilepsy and even asthma may not be included as standard. Again, check the terms, exclusions and limitations of any insurance carefully.
If you want trip cancellation or curtailment, baggage loss or delay covered, you may need a higher-grade plan, says Ambareen Musa of Souqalmal.com. Decide how much coverage you need for emergency medical expenses or personal liability. Premium insurance packages give up to $1 million (Dh3.7m) in each category, Ms Musa adds.
Don’t wait for days to call your insurer if you need to make a claim. You may be required to notify them within 72 hours. Gather together all receipts, emails and reports to prove that you paid for something, that you didn’t use it and that you did not get reimbursed.
Finally, consider optional extras you may need, says Sarah Pickford of Travel Counsellors, such as a winter sports holiday. Also ensure all individuals can travel independently on that cover, she adds. And remember: “Cheap isn’t necessarily best.”
Our legal consultant
Name: Dr Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
