Women in Gaza city mourn for people killed in an Israeli bombardment earlier this week. On Wednesday, as the UN Security Council met to discuss the spiralling situation in Lebanon, Gazans were counting the cost of the latest Israeli attacks across the Palestinian enclave. AFP
Women in Gaza city mourn for people killed in an Israeli bombardment earlier this week. On Wednesday, as the UN Security Council met to discuss the spiralling situation in Lebanon, Gazans were counting the cost of the latest Israeli attacks across the Palestinian enclave. AFP
Women in Gaza city mourn for people killed in an Israeli bombardment earlier this week. On Wednesday, as the UN Security Council met to discuss the spiralling situation in Lebanon, Gazans were counting the cost of the latest Israeli attacks across the Palestinian enclave. AFP
Women in Gaza city mourn for people killed in an Israeli bombardment earlier this week. On Wednesday, as the UN Security Council met to discuss the spiralling situation in Lebanon, Gazans were countin


The world forgets about Gaza at its peril


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  • Arabic

October 04, 2024

This week, much of the world has watched aghast as Israeli forces followed their devastating urban bombing campaign in Lebanon with the beginning of a ground invasion of its vulnerable neighbour. The additional sight of Iranian ballistic missiles hurtling through international airspace to land on Israeli targets made it clear that the region is running the risk of a full-scale war.

For the long-suffering people of Gaza, however, such escalations are the backdrop to almost a year of unrelenting collective punishment through non-stop bombardment and displacement. On Wednesday, as the UN Security Council met to discuss the spiralling situation in Lebanon, Gazans were counting the cost of the latest Israeli attacks across the Palestinian enclave. At least 70 people were killed on Tuesday, including at a school sheltering the displaced.

The consequences of a military campaign that has reduced Gaza to rubble are felt most keenly by children, many of whom have suffered life-changing injuries. In an interview with The National, Gazan resident Shifaa Al Dogee described how her nieces Hanan and Misk, aged three and 18 months respectively, lost limbs in an Israeli air strike last month that killed their mother. “The situation is heartbreaking – Misk had just learnt to walk and now she can’t,” Ms Al Dogee said. Hanan, who lost both legs, “asks why other children have legs but she doesn’t”.

Such suffering is a particularly poignant reminder of the terrible cost Gaza’s civilians have paid for the Hamas attack a year ago that claimed more than 1,200 Israeli lives, many of them civilian. The pain of those communities is raw and real, and more than 100 Israelis are still being held hostage. Israeli society is using its resources to try to heal the physical and psychological hurt inflicted on its people by October 7, but despite the considerable aid efforts of Arab states and the international community, many Palestinians in Gaza lack essentials such as food, medicine and safe water, let alone long-term care.

Although the bombardment and invasion of Lebanon by Israel requires immediate attention, the situation in Gaza must not be overlooked

Gaza is pivotal to stopping the regional march to war; an immediate ceasefire there would help to reduce tensions and retaliatory attacks that now stretch from the Levant to Yemen. Diplomatic stunts such as banning UN Secretary General Antonio Guterres from Israel must not be allowed to distract from the catastrophe that continues to unfold in Gaza. Aside from Israeli strikes, Gazans continue to suffer from hunger, disease and homelessness. Aid workers and UN staff have been killed, and every red line laid down by international law breached. Even if a ceasefire were to be called tomorrow, the ruin visited on the enclave is so profound that it will take decades to rebuild.

Given Gaza’s centrality to the crises spreading across the Levant and wider Middle East, the international community cannot afford to become inured to the enclave’s suffering or be complacent, thinking this is a situation that can be managed. Although the bombardment and invasion of Lebanon by Israel requires immediate attention, the situation in Gaza, like in the West Bank, must not be overlooked. Too much is at stake.

Bio:

Favourite Quote: Prophet Mohammad's quotes There is reward for kindness to every living thing and A good man treats women with honour

Favourite Hobby: Serving poor people 

Favourite Book: The Alchemist by Paulo Coelho

Favourite food: Fish and vegetables

Favourite place to visit: London

SPECS
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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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UK’s AI plan
  • AI ambassadors such as MIT economist Simon Johnson, Monzo cofounder Tom Blomfield and Google DeepMind’s Raia Hadsell
  • £10bn AI growth zone in South Wales to create 5,000 jobs
  • £100m of government support for startups building AI hardware products
  • £250m to train new AI models
SPECS
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COMPANY PROFILE
Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
Liz%20Truss
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Updated: October 06, 2024, 8:44 AM