• India's captain Shikhar Dhawan walks off the pitch after the seven-wicket win over Sri Lanka in the first ODI in Colombo on Sunday.
    India's captain Shikhar Dhawan walks off the pitch after the seven-wicket win over Sri Lanka in the first ODI in Colombo on Sunday.
  • India's Suryakumar Yadav hit 31 off 20 balls in Colombo.
    India's Suryakumar Yadav hit 31 off 20 balls in Colombo.
  • Shikhar Dhawan remained unbeaten on 86 as India defeated Sri Lanka by seven wickets at the R. Premadasa Stadium in Colombo.
    Shikhar Dhawan remained unbeaten on 86 as India defeated Sri Lanka by seven wickets at the R. Premadasa Stadium in Colombo.
  • India's Ishan Kishan blasted 59 from 42 balls on Sunday.
    India's Ishan Kishan blasted 59 from 42 balls on Sunday.
  • India's Ishan Kishan plays a shot during the first One Day International (ODI) cricket match between Sri Lanka and India at the R. Premadasa Stadium in Colombo on July 18, 2021. (Photo by Ishara S. KODIKARA / AFP)
    India's Ishan Kishan plays a shot during the first One Day International (ODI) cricket match between Sri Lanka and India at the R. Premadasa Stadium in Colombo on July 18, 2021. (Photo by Ishara S. KODIKARA / AFP)
  • India's bowler Deepak Chahar, right, celebrates taking the wicket of Sri Lanka's Wanidu Hasaranga.
    India's bowler Deepak Chahar, right, celebrates taking the wicket of Sri Lanka's Wanidu Hasaranga.
  • Krunal Pandya, centre, celebrates with teammates after he dismissed Sri Lanka's Dhananjaya de Silva.
    Krunal Pandya, centre, celebrates with teammates after he dismissed Sri Lanka's Dhananjaya de Silva.
  • India's Kuldeep Yadav, left, and Shikhar Dhawan, celebrate the dismissal of Sri Lanka's Bhanuka Rajapaksa.
    India's Kuldeep Yadav, left, and Shikhar Dhawan, celebrate the dismissal of Sri Lanka's Bhanuka Rajapaksa.
  • Hardik Pandya returned to bowling in ODIs after a long time out due to injury.
    Hardik Pandya returned to bowling in ODIs after a long time out due to injury.

India youngsters enter T20 mode during Sri Lanka ODIs


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The opening ODI between Sri Lanka and India was quite revealing. The gulf between the hosts and a second-choice Indian outfit was clear as Shikhar Dhawan's team eased to a seven-wicket win in Colombo on Sunday.

The Lankans battled their way to a competitive score of 262-9 and would have hoped for some assistance for their bowlers under the flood lights. But India's batting line-up made a mockery of the target, reaching 263-3 with almost 15 overs remaining.

India relied on Dhawan's 33rd ODI half-century, fellow opener Prithvi Shaw's 24-ball 43 and an attacking 59 by Ishan Kishan to take a 1-0 lead into the second match of the three-game ODI series in Colombo on Tuesday.

Shaw was named man of the match for getting India off to a quick start. Suryakumar Yadav then finished things off with a 20-ball 31.

“It was good to be on the other end and watch Prithvi and Ishan. I was telling them to take it easy actually,” Dhawan said after the win.

“The way these young boys play in the IPL [Indian Premier League], they get lots of exposure and they just finished the game in the first 15 overs.”

It was the urgency shown by the Indian batsmen that caught the eye. Players of all teams are making the most of any opportunity that comes their way to claim a spot in the T20 World Cup squad. And even though we are in the midst of an ODI series, the Indian players — especially the batsmen — are auditioning for the limited spots still open in India's packed T20 line-up.

In other words, Indian players see the entire tour of three ODIs and three T20s as six opportunities to showcase their T20 skills. If they get a chance to bat first on Tuesday, a total of well above 300 should be expected.

On the bowling front, all-rounder Hardik Pandya bowled five overs and picked up a wicket, which must be a breath of fresh air for the Indian management worried about his bowling fitness following a serious back injury. Pandya bowling his quota of overs will be an important asset for India when they aim for the T20 title in the UAE later this year.

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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The President's Cake

Director: Hasan Hadi

Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem 

Rating: 4/5

Updated: July 19, 2021, 3:00 PM