• Tyson Fury, left, and Oleksandr Usyk face off during a press conference at Outernet London. PA
    Tyson Fury, left, and Oleksandr Usyk face off during a press conference at Outernet London. PA
  • Tyson Fury moves his head towards Oleksandr Usyk as the face off gets heated. PA
    Tyson Fury moves his head towards Oleksandr Usyk as the face off gets heated. PA
  • Tyson Fury, left, and Oleksandr Usyk announce their undisputed bout. Reuters
    Tyson Fury, left, and Oleksandr Usyk announce their undisputed bout. Reuters
  • Oleksandr Usyk poses on the stage. Reuters
    Oleksandr Usyk poses on the stage. Reuters
  • Tyson Fury waves to attendees during the press conference. AFP
    Tyson Fury waves to attendees during the press conference. AFP
  • Oleksandr Usyk reacts during the press conference at Outernet London. Getty
    Oleksandr Usyk reacts during the press conference at Outernet London. Getty
  • A general view of a screen advertising the fight behind the fighters, speakers and promoters. Getty
    A general view of a screen advertising the fight behind the fighters, speakers and promoters. Getty
  • Tyson Fury, left, shakes hands with boxing promoter Frank Warren. Getty
    Tyson Fury, left, shakes hands with boxing promoter Frank Warren. Getty
  • Tyson Fury poses on the stage. Reuters
    Tyson Fury poses on the stage. Reuters
  • Oleksandr Usyk and promoter Alex Krassyuk during the press conference. Reuters
    Oleksandr Usyk and promoter Alex Krassyuk during the press conference. Reuters

Tyson Fury v Oleksandr Usyk rearranged for May 18 in Saudi Arabia


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The undisputed heavyweight world title fight between Tyson Fury and Oleksandr Usyk has been rearranged for May 18, the promoters have announced.

The historic bout in Riyadh, which will crown the first undisputed heavyweight champion of the four-belt era, was initially scheduled for February 17, but WBC title holder Fury suffered a cut above his eye in training, forcing the fight to be postponed.

Initial reports had claimed Fury, who required 11 stitches, would not be ready to fight until at least June, but organisers have moved quickly to secure a new fight date.

“The undisputed heavyweight championship fight between Tyson Fury and Oleksandr Usyk has been rescheduled to May 18th in Riyadh," read a statement from Fury's promoters Queensbury Promotions on social media.

It is the second time Fury's planned fight with Usyk – holder of the WBO, WBA, and IBF titles – has been delayed after an initial slot in December failed to materialise.

Fury, 35, won his WBC championship after knocking out American Deontay Wilder in 2020, while 37-year-old Usyk won his belts after outscoring Britain's Anthony Joshua in 2021. Both boxers are undefeated in their professional careers.

Turki Alalshikh, the chairman of Saudi Arabia's general entertainment authority, told the MMA Hour with Ariel Helwani that he was confident the fight would happen on the new date.

"This fight I want it to happen," he said. "On 18th of May we will have Tyson-Usyk... on the 18th we will have the answer."

Alalshikh said May 18 also met a deadline set by the IBF for the fight to happen. Had the deadline been missed, Usyk was at risk of vacating his IBF belt and therefore scuppering hopes of an undisputed title fight.

Both Fury and Usyk appeared on the show via video links, Fury in Saudi Arabia and Usyk from his training camp in Spain, and said they had agreed the new date.

Fury explained that he had arranged to spar 12 rounds with four different boxers and suffered the injury in round five, requiring a hospital trip and 11 stitches.

"They have the medical reports, they have everything... nothing much anybody can do about getting a cut in sparring. [It] happens. Never had one before. First time for everything," he said.

Fury also brushed aside a suggestion from Usyk's camp that he was looking for a way out.

"Why would I not want to fight for the biggest pay day in my life?," he asked. "I've put 10 weeks in a training camp. Why would I not want to fight?"

Usyk said his reaction to the news of the postponement was "just smile. I just smile and go to training."

Saudi organisers said on Friday that tickets for the original fight would be refunded.

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

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Name: Thndr

Started: October 2020

Founders: Ahmad Hammouda and Seif Amr

Based: Cairo, Egypt

Sector: FinTech

Initial investment: pre-seed of $800,000

Funding stage: series A; $20 million

Investors: Tiger Global, Beco Capital, Prosus Ventures, Y Combinator, Global Ventures, Abdul Latif Jameel, Endure Capital, 4DX Ventures, Plus VC,  Rabacap and MSA Capital

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Rating: 4 stars

Updated: February 04, 2024, 5:30 AM