• Rajasthan Royals captain Sanju Samson scored a century but got out off the last ball of the match against Punjab Kings in their IPL match at the Wankhede Stadium in Mumbai on Monday, April 12, 2021. Sportzpics for IPL
    Rajasthan Royals captain Sanju Samson scored a century but got out off the last ball of the match against Punjab Kings in their IPL match at the Wankhede Stadium in Mumbai on Monday, April 12, 2021. Sportzpics for IPL
  • Sanju Samson scored a fine century but Rajasthan Royals lost to Punjab Kings by four runs in Mumbai. Sportzpics for IPL
    Sanju Samson scored a fine century but Rajasthan Royals lost to Punjab Kings by four runs in Mumbai. Sportzpics for IPL
  • Sanju Samson got out with Rajasthan needing five runs off the last ball against Punjab Kings at the Wankhede Stadium. Sportzpics for IPL
    Sanju Samson got out with Rajasthan needing five runs off the last ball against Punjab Kings at the Wankhede Stadium. Sportzpics for IPL
  • Riyan Parag hit a quick 25 for Rajasthan Royals against Punjab Kings. Sportzpics for IPL
    Riyan Parag hit a quick 25 for Rajasthan Royals against Punjab Kings. Sportzpics for IPL
  • KL Rahul takes the catch of Ben Stokes of Rajasthan Royals. Sportzpics for IPL
    KL Rahul takes the catch of Ben Stokes of Rajasthan Royals. Sportzpics for IPL
  • Punjab Kings captain KL Rahul hit 91 off 50 balls against Rajasthan Royals on Monday. Sportzpics for IPL
    Punjab Kings captain KL Rahul hit 91 off 50 balls against Rajasthan Royals on Monday. Sportzpics for IPL
  • Chris Gayle smashed 40 off 28 balls for Punjab Kings. Sportzpics for IPL
    Chris Gayle smashed 40 off 28 balls for Punjab Kings. Sportzpics for IPL
  • Deepak Hooda scored 64 from just 28 balls. Sportzpics for IPL
    Deepak Hooda scored 64 from just 28 balls. Sportzpics for IPL
  • Chetan Sakariya of Rajasthan Royals picked up 3-31. Sportzpics for IPL
    Chetan Sakariya of Rajasthan Royals picked up 3-31. Sportzpics for IPL

IPL 2021: Sanju Samson's century on captaincy debut in vain as Punjab Kings defeat Rajasthan Royals


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Sanju Samson marked his first game as Rajasthan Royals captain by smashing a century and coming close to pulling off an unlikely victory over Punjab Kings in the IPL on Monday.

Instead, it was KL Rahul's Punjab who held their nerves to win by four runs, with seamer Arshdeep Singh dismissing Samson (119 from 63 balls) off the last ball of the match with five needed for victory. He hit 12 fours and seven sixes during his innings.

Punjab’s total of 221-6 never looked enough, especially after Samson twice got dropped before completing his half century and then successfully overturned an lbw decision against him soon after crossing the 50-run mark.

“The second part of my innings was my best IPL performance,” Samson said. “I really enjoy my shots … the sixes come out naturally, and in that process I tend to lose my wickets also.”

Needing 13 off left-arm fast bowler Singh’s last over, Samson brought down the target to five off two balls with a six. But Singh kept his cool to finish with impressive figures of 3-45 as Rajasthan ended up at 217-7.

“Heart rate was high but I didn’t stop believing, we knew a couple of wickets would bring us back,” Punjab captain KL Rahul, who earlier top-scored with 91, said.

“I had gone to Arshdeep for crucial overs last year too. He doesn’t mind bowling the pressure overs, he seems to enjoy it. He loves being in the contest. Love throwing him the ball. He’s pretty clear with what he wants to do.”

Earlier, after being put into bat, Rahul and Deepak Hooda (64) ensured Punjab set a stiff target. Rajasthan’s multi-million dollar signing Chris Morris was hit for 41 off four overs before getting Hooda and Nicholas Pooran in his last over.

Bangladesh’s left-arm fast bowler Mustafizur Rehman gave away 45 runs without getting a wicket as Samson rotated eight bowlers without much success.

Rahul and Hooda combined in a 105-run stand with the Punjab captain smashing seven fours and five sixes. Hooda hit six sixes and four boundaries in his quickfire knock off just 28 balls before falling in Morris’ return spell.

Rahul looked set for his century but Chetan Sakariya had him caught on the edge of midwicket boundary in the last over as the young fast bowler impressed in a high-scoring game and finished with 3-31.

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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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

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MATCH INFO

Uefa Champions League semi-final, first leg

Tottenham 0-1 Ajax, Tuesday

Second leg

Ajax v Tottenham, Wednesday, May 8, 11pm

Game is on BeIN Sports

'Shakuntala Devi'

Starring: Vidya Balan, Sanya Malhotra

Director: Anu Menon

Rating: Three out of five stars

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