When US President Donald Trump put forward his 20-point proposal to end the fighting between Israel and Hamas in Gaza, he might have been hoping for a simple “yes” or “no” from the warring parties. Instead, both gave similar responses: enthusiasm and praise, but underneath it a tone of “let’s see what the other side does first”.
Now, just before the two-year anniversary of Hamas’s attack against Israel on October 7, 2023, and after a series of ultimatums from Mr Trump, both sides have been coaxed into something of a deal. Hamas’s agreement on Friday to release all the Israeli hostages it holds even before any Israeli military withdrawal from Gaza was a very significant concession, capable of breaking the diplomatic stalemate that has allowed the conflict to continue for so long.
Still, any optimism must be tempered with plenty of caution. Over the past two years, the war has killed nearly 70,000 Palestinians, in addition to hundreds of Israelis. The numbers have climbed so high, in part, because in that time so many promising frameworks for peace deals have collapsed under the weight of political obstinacy and mistrust.
Those qualities remain. Israel’s far-right coalition remains a formidable obstacle to a two-state solution, which is where this path must lead. Mr Trump’s plan explicitly references Palestinian statehood, but Israel’s Prime Minister, Benjamin Netanyahu, still refuses to acknowledge such an outcome. And while Hamas has reportedly accepted that it cannot have any meaningful role in Gaza’s future government, its official statements still leave room for ambiguity. It has not explicitly agreed to disarm, either – a key part of the Trump plan.
Many promising frameworks for peace deals have collapsed under the weight of political obstinacy
The two sides have begun meetings in Cairo to hash out more details. “All eyes are on Gaza,” said Anwar Gargash, diplomatic adviser to President Sheikh Mohamed, on Sunday. He was speaking not only for the UAE, which has invested considerable effort in realising a peace deal, but for the whole world.
But even if there is momentum towards peace in the negotiation rooms, it is far from apparent on the ground in Gaza. The enclave is now largely rubble, its hospitals barely functioning and its resident families displaced many times over. The physical destruction is a surface layer; the trauma runs much deeper. Bombs are still falling from the sky, soldiers are still shooting, most aid is still blocked from entering and people are still starving. Rebuilding amid such a state of affairs will require more than money and materials. It requires genuine good faith and commitment to progress. Any agreement that emerges from the Cairo talks, therefore, will be a starting point for a long, important process that must prioritise the welfare of Palestinians.
Israel’s conduct in the intervening time matters. If Mr Netanyahu truly believes that a deal is within reach, he must demonstrate good faith immediately. He has not done that yet; just hours after Mr Trump told Israel to halt its bombing campaigns, Israeli strikes killed 70 Palestinians, including two children.
Continuing air strikes and keeping the doors to humanitarian aid shut does not create any new leverage in negotiations. It only signals that Israel wants to cause as much damage as possible before it is forced to stop. This ought to be unacceptable to everyone. The people of Gaza, as Mr Trump’s plan states in no uncertain terms, “have suffered more than enough”.
Company%20profile
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20WallyGPT%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2014%3Cbr%3E%3Cstrong%3EFounders%3A%20%3C%2Fstrong%3ESaeid%20and%20Sami%20Hejazi%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%3Cbr%3E%3Cstrong%3EInvestment%20raised%3A%20%3C%2Fstrong%3E%247.1%20million%3Cbr%3E%3Cstrong%3ENumber%20of%20staff%3A%3C%2Fstrong%3E%2020%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3EPre-seed%20round%3C%2Fp%3E%0A
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
More coverage from the Future Forum
What%20is%20Dungeons%20%26%20Dragons%3F%20
%3Cp%3EDungeons%20%26amp%3B%20Dragons%20began%20as%20an%20interactive%20game%20which%20would%20be%20set%20up%20on%20a%20table%20in%201974.%20One%20player%20takes%20on%20the%20role%20of%20dungeon%20master%2C%20who%20directs%20the%20game%2C%20while%20the%20other%20players%20each%20portray%20a%20character%2C%20determining%20its%20species%2C%20occupation%20and%20moral%20and%20ethical%20outlook.%20They%20can%20choose%20the%20character%E2%80%99s%20abilities%2C%20such%20as%20strength%2C%20constitution%2C%20dexterity%2C%20intelligence%2C%20wisdom%20and%20charisma.%20In%20layman%E2%80%99s%20terms%2C%20the%20winner%20is%20the%20one%20who%20amasses%20the%20highest%20score.%3C%2Fp%3E%0A
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
