People stand in queue to cast their votes outside a polling booth in Kashmir on Monday. AP
People stand in queue to cast their votes outside a polling booth in Kashmir on Monday. AP
People stand in queue to cast their votes outside a polling booth in Kashmir on Monday. AP
People stand in queue to cast their votes outside a polling booth in Kashmir on Monday. AP


Whoever wins India's election should focus on tackling poverty


The National
  • English
  • Arabic

May 24, 2024

I write in reference to Chitrabhanu Kadalayil's op-ed Did the BJP's 'Mission 400' seat target make winning India's election mission impossible? (May 16): there are a number of reasons for the poor voter turnout in the Indian election, including unfavourable weather, but this will be worrying for all of the main political parties.

Although it isn't expected to win 400 seats, the BJP still has the ability to secure a majority, mainly due to a weak opposition. Of course, if the number of BJP seats declines, it suggests that the opposition is becoming stronger. Yet the Congress party does not have the deep roots it previously did, and so, even if the opposition ends up forming a government, it will be composed of numerous small parties and would not be stable or sustainable in a nation the size of India.

All that being said, what is being ignored is the fact that India's fundamental needs are not being adequately met. Why the least-privileged people continue to remain poor remains a concern. Helping them move up the social ladder should be the top priority for any administration, and the BJP has performed marginally better in this area than its predecessors. Programmes that prioritise women's empowerment have had some positive results, albeit slowly.

Finally, it bears mentioning that India will be more successful as a nation if religious fanaticism is kept out of politics.

Ramachandran Nair, Muscat, Oman

Improving air safety is key

I write in reference to Amr Mostafa and Nicky Harley's article One dead and several injured in severe turbulence on London to Singapore flight (May 21): it was disconcerting to read the news about the death of a passenger and injuries to several others this week. It was also a sobering reminder that, even though aviation remains the safest mode of transport today, passenger safety is not always guaranteed. There has been a series of accidents in recent months from Japan to the US, which suggests there is room for improvement as far as the airline industry is concerned. Whatever they are – technological upgrades, safety regulation updates, a new insurance framework – they call for joined-up thinking to make flying even safer than it already is.

K Ragavan, Bengaluru, India

Western hypocrisy in today's wars

I write in reference to Tim Stickings' article MPs urge Britain to back ICC bid to 'hold Israel to account' (May 22): the war in Gaza has exposed western double standards, especially when weighed against the conflict in Ukraine. The ICC must not fail in its bid to bring justice to those who have been harmed and wronged. It must not fail to hold key Israeli government officials to account.

Name withheld by request

Tamkeen's offering
  • Option 1: 70% in year 1, 50% in year 2, 30% in year 3
  • Option 2: 50% across three years
  • Option 3: 30% across five years 
MATCH INFO:

Second Test

Pakistan v Australia, Tuesday-Saturday, 10am​​ daily​​​​​ at Zayed Cricket Stadium, Abu Dhabi

Entrance is free

The%20Hunger%20Games%3A%20The%20Ballad%20of%20Songbirds%20%26%20Snakes
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%C2%A0Francis%20Lawrence%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%C2%A0%3C%2Fstrong%3ERachel%20Zegler%2C%20Peter%20Dinklage%2C%20Viola%20Davis%2C%20Tom%20Blyth%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E3%2F5%3C%2Fp%3E%0A
Company%20Profile
%3Cp%3E%3Cstrong%3EName%3A%20%3C%2Fstrong%3EDirect%20Debit%20System%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%20Sept%202017%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20UAE%20with%20a%20subsidiary%20in%20the%20UK%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20FinTech%3Cbr%3E%3Cstrong%3EFunding%3A%3C%2Fstrong%3E%20Undisclosed%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Elaine%20Jones%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%208%3Cbr%3E%3C%2Fp%3E%0A
MATCH INFO

Manchester City 3
Danilo (16'), Bernardo Silva (34'), Fernandinho (72')

Brighton & Hove Albion 1
Ulloa (20')

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

The years Ramadan fell in May

1987

1954

1921

1888

UPI facts

More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions

The specs: 2018 Bentley Bentayga V8

Price, base: Dh853,226

Engine: 4.0-litre twin-turbo V8

Transmission: Eight-speed automatic

Power: 550hp @ 6,000pm

Torque: 770Nm @ 1,960rpm

Fuel economy, combined: 11.4L / 100km

Veil (Object Lessons)
Rafia Zakaria
​​​​​​​Bloomsbury Academic

Singham Again

Director: Rohit Shetty

Stars: Ajay Devgn, Kareena Kapoor Khan, Ranveer Singh, Akshay Kumar, Tiger Shroff, Deepika Padukone

Rating: 3/5

Updated: May 24, 2024, 3:00 AM