A woman mourns her child who was killed during an Israeli strike on a school housing displaced Palestinians in Gaza City's Zaytoun neighbourhood, on September 21. AFP
A woman mourns her child who was killed during an Israeli strike on a school housing displaced Palestinians in Gaza City's Zaytoun neighbourhood, on September 21. AFP
A woman mourns her child who was killed during an Israeli strike on a school housing displaced Palestinians in Gaza City's Zaytoun neighbourhood, on September 21. AFP
A woman mourns her child who was killed during an Israeli strike on a school housing displaced Palestinians in Gaza City's Zaytoun neighbourhood, on September 21. AFP


Neither Israel nor Hamas will really win this war


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October 07, 2024

Live updates: Follow the latest on Israel-Gaza

If there is a common theme to be found running through the series of shattering events that has irrevocably changed the Middle East since October 7 last year, it is that of dangerous fantasy leading to real-world tragedy.

When Hamas-led militants breached Israel’s border with Gaza on that fateful day and killed or kidnapped more than 1,400 Israelis – mostly civilians – many of them were hoping that such a shocking attack would inspire other militias in the region into action. The conceit that pitting a disparate collection of proxy groups against one of the Middle East’s most well-armed militaries and a hard-right Israeli government would result in Palestinian freedom is one marked by erroneous judgment.

Since that day, delusion has gripped all sides in this brutal and escalating conflict. Israel’s military response to October 7 was, its commanders said, to destroy Hamas. Instead, the collective punishment of Gaza’s population has claimed the lives of more than 41,800 people, according to Ministry of Health figures, although the true death toll could be much higher. Despite 12 months of bombardment and occupation – the latest of which was an air strike on a mosque on Sunday morning, killing at least 26 people and wounding dozens of others – Israeli forces have been unable to complete their stated objective.

For some in Israel’s political and military establishment, the war presented an opportunity to fulfil reckless ambitions of returning Jewish settlers to Gaza or changing the fragile status quo of religious sites in Jerusalem. The idea that occupying land can continue without consequence has taken hold.

Outside its borders, the past two weeks have revealed another questionable Israeli assumption: that assassinating enemy commanders in Beirut and Tehran, and invading another country will deliver security for its people. On the contrary, it has faced ballistic missiles from Iran, drone strikes from Yemen and international pressure to halt its campaigns in Gaza and Lebanon. Meanwhile, domestic divisions fester as the fate of more than 100 remaining Israeli hostages hangs in the balance.

Much has changed in the past 12 months. Leading figures in the so-called Axis of Resistance, such as Hamas's Ismail Haniyeh and Hezbollah's Hassan Nasrallah, are dead. As Israeli troops advance, about a million Lebanese have had to flee their homes, as have more than 100,000 Syrian refugees based in Lebanon. Tens of thousands of Israeli civilians, too, remain displaced from their country’s north.

Delusion and miscalculation have led to many needless deaths

The incoherence of US policy in this region – advocating for peace while supporting Israel politically and militarily – has been repeatedly exposed.

One thing is certain: whatever happens next, the Middle East as it was on October 6 last year is gone. This presents an unnerving and uncertain future, but the gravity of the situation is such that this may – with the right political will – be the time for a much-needed reality check.

This means dispensing with the ultimate delusion – that victory can be achieved by removing either Israelis or Palestinians from the land between the Mediterranean Sea and the Jordan River.

Fantasies of expelling populations, occupying and settling land for decades, or building security on a system of dispossession and discrimination are too dangerous to be allowed to continue. Delusion and miscalculation have led to many needless deaths, from Israelis and others on October 7 to Palestinians living in Gaza and the West Bank over the past 12 months and now Lebanese civilians all the way up to Beirut and beyond.

It is well past time for warring sides to search for solutions and peace. That means immediately ending the war in Gaza, winding down regional escalation and rejoining the path of diplomacy and long term co-existence. The alternative is to cling to radical beliefs about ultimate victory. If the past year has shown us anything, it is that there are no such victories to be had in this conflict – that is reality.

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

Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
Springsteen: Deliver Me from Nowhere

Director: Scott Cooper

Starring: Jeremy Allen White, Odessa Young, Jeremy Strong

Rating: 4/5

SPEC%20SHEET%3A%20APPLE%20IPHONE%2014%20PRO%20MAX
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INDIA SQUAD

Rohit Sharma (captain), Shikhar Dhawan (vice-captain), KL Rahul, Suresh Raina, Manish Pandey, Dinesh Karthik (wicketkeeper), Deepak Hooda, Washington Sundar, Yuzvendra Chahal, Axar Patel, Vijay Shankar, Shardul Thakur, Jaydev Unadkat, Mohammad Siraj and Rishabh Pant (wicketkeeper)

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

Avatar: Fire and Ash

Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

Updated: October 07, 2024, 10:11 AM