For five days, Americans have risen up against the killingof George Floyd, a 46-year-old black man, by a white police officer in the city of Minneapolis while he was in custody. The tragedy was filmed by passersby and shared online for the world to see. In the video, Floyd can be seen pleading for his life as one policeman continues to choke him with his knee while others hold him down.
The brutality seen in the footage has shocked the world and, understandably, driven thousands to the streets across the US to demand justice, equality and fair treatment of minorities by law enforcement officials.
Floyd’s death has revealed deep fractures within American society, putting the spotlight on instances of police brutality against marginalised communities.
Yet it is only the latest in a series of widely reported killings of black persons in custody. Time and again, excessive force has been used against marginalised communities, sparking protests, and eventually riots, in a never-ending cycle of violence. In 2014, the fatal shooting by a white officer of 18-year-old Michael Brown, another black man, sparked protests in the city of Ferguson and served as a catalyst for the "Black Lives Matter" movement. That same year in New York, Eric Garner, yet another black person, was choked to death in police custody for selling cigarettes illegally. The officer who killed him was dismissed from the force, but not indicted. And this February, Ahmaud Arbery, an unarmed jogger, was lynched by white men. His death was also filmed and widely shared online.
In Ferguson, just as in Minneapolis, there have been reports of looting and violence by some demonstrators, while the police has, in turn, responded with force to protesters. Violence cannot be condoned, whether it is perpetrated by protesters, who are angry at the state’s inability to protect its most vulnerable people, or by police officers using excessive force on unarmed civilians. This cycle must be broken once and for all.
An investigation is under way into Arbery’s death, and the officer who killed Floyd has been arrested and charged with third-degree murder. For America to heal its wounds, justice must be served in a fair manner, and this arrest is a positive first step.
Floyd's death has revealed deep fractures within American society
The year 2020 has brought about trials and tribulations all over the world, and particularly in the US. This is an election year, a time when politicians often entrench themselves in divisive rhetoric instead of bringing people together – a tactic President Donald Trump has already employed in light of recent events. Then, there is the coronavirus pandemic. The US has recorded nearly one-third of all Covid-19 cases and more than 105,000 deaths. That people were compelled to take to the streets instead of staying safely indoors speaks to the gravity of the situation.
All people regardless of race and social status must receive fair treatment when apprehended by police forces. No one should die for $20 in counterfeit money, or for selling cigarettes.
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
Classification of skills
A worker is categorised as skilled by the MOHRE based on nine levels given in the International Standard Classification of Occupations (ISCO) issued by the International Labour Organisation.
A skilled worker would be someone at a professional level (levels 1 – 5) which includes managers, professionals, technicians and associate professionals, clerical support workers, and service and sales workers.
The worker must also have an attested educational certificate higher than secondary or an equivalent certification, and earn a monthly salary of at least Dh4,000.
UAE currency: the story behind the money in your pockets
