Earlier this week, Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, encouraged all citizens and residents of the UAE to get vaccinated against Covid-19 to "help us end this pandemic". By personally encouraging people to do so, the country's leadership is making clear the direct line between inoculation and speeding up the nation's post-pandemic recovery. It also highlights that UAE public officials believe that an end to Covid-19's grip on our lives – at least in the Emirates – is in sight.
Herd immunity is the ultimate goal. As of Tuesday, 1,275,500 shots have been administered in the UAE, putting the country second globally in the number of vaccines administered for every 100 people. Any adult residing in the country is able to get the vaccine for free. Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces said that “we hope that with vaccinations picking up pace, we will reach the point of full recovery in the shortest possible time”. That is the hope we all share and for which we must strive.
Yet, the projected pace of progress in an individual nation does not match global rates.
On Monday, the World Health Organisation warned that worldwide herd immunity would not be achieved by the end of 2021. Surging infection rates across Europe form part of this estimation. Other reasons given by the UN agency's chief scientist, Soumya Swaminathan, include limited access to vaccines in developing countries, false scepticism some hold over vaccine safety, and the threat posed by the virus mutating into more contagious forms, possibly ones that render vaccines less effective.
Al Aweer desert farms in Dubai emirate, which due to Covid-19 has cultivated the desert to provide crops and reduce imports. AFP
Vaccination rollouts do not mean the fight against Covid-19 is over
The statement stressed that any inoculation programme takes time. Nonetheless, many governments who knew even in the early days of the pandemic that vaccines would come failed to prepare logistically for a swift rollout. There has also been a global inability to develop strategies to keep up pace with misinformation and conspiracy theories about the safety of jabs.
The speed of vaccine development during this pandemic has been unprecedented. But this win does not guard against inevitable setbacks. Yesterday, researchers in Brazil published a study showing that the CoronoVac shot, a mainstay of the country's inoculation programme, is only 50 per cent effective.
Even in nations ahead on vaccination, cases are rising. Israel, which leads the field in inoculating its citizens, is experiencing a surge in infections that it blames on the arrival of the more infectious UK variant of Covid-19 in the country. On Tuesday, the UAE recorded 3,243 new cases of the virus, the first time since the beginning of the pandemic that the nation exceeded 3,000 daily cases. While this number is significantly lower than in other developed countries, it highlights the fact that the acceleration of vaccination campaigns does not yet mean the fight against Covid-19 is over.
Stressing this simple point consistently should remain central in public messaging the world over. Even in nations where herd immunity in 2021 remains possible, people must not lose discipline and jeopardise recent progress. Hand-washing, maintaining social distancing and wearing face masks in public remain as important as they were at the beginning of the pandemic.
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
The specs
Engine: 2.0-litre 4-cyl turbo
Power: 201hp at 5,200rpm
Torque: 320Nm at 1,750-4,000rpm
Transmission: 6-speed auto
Fuel consumption: 8.7L/100km
Price: Dh133,900
On sale: now
UAE currency: the story behind the money in your pockets
Developer: Big Ape Productions Publisher: LucasArts Console: PlayStation 1 & 5, Sega Saturn Rating: 4/5
Other acts on the Jazz Garden bill
Sharrie Williams
The American singer is hugely respected in blues circles due to her passionate vocals and songwriting. Born and raised in Michigan, Williams began recording and touring as a teenage gospel singer. Her career took off with the blues band The Wiseguys. Such was the acclaim of their live shows that they toured throughout Europe and in Africa. As a solo artist, Williams has also collaborated with the likes of the late Dizzy Gillespie, Van Morrison and Mavis Staples. Lin Rountree
An accomplished smooth jazz artist who blends his chilled approach with R‘n’B. Trained at the Duke Ellington School of the Arts in Washington, DC, Rountree formed his own band in 2004. He has also recorded with the likes of Kem, Dwele and Conya Doss. He comes to Dubai on the back of his new single Pass The Groove, from his forthcoming 2018 album Stronger Still, which may follow his five previous solo albums in cracking the top 10 of the US jazz charts. Anita Williams
Dubai-based singer Anita Williams will open the night with a set of covers and swing, jazz and blues standards that made her an in-demand singer across the emirate. The Irish singer has been performing in Dubai since 2008 at venues such as MusicHall and Voda Bar. Her Jazz Garden appearance is career highlight as she will use the event to perform the original song Big Blue Eyes, the single from her debut solo album, due for release soon.
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
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
UAE currency: the story behind the money in your pockets
