Alexander Isak joined Real Sociedad in 2021, scoring 44 goals in 132 games for the La Liga club. AFP
Alexander Isak joined Real Sociedad in 2021, scoring 44 goals in 132 games for the La Liga club. AFP
Alexander Isak joined Real Sociedad in 2021, scoring 44 goals in 132 games for the La Liga club. AFP
Alexander Isak joined Real Sociedad in 2021, scoring 44 goals in 132 games for the La Liga club. AFP

Sport

Football

Newcastle set to smash club transfer record on Real Sociedad striker Alexander Isak

Premier League club finalising £58m deal to sign Swedish attacker

The National

August 24, 2022

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Newcastle United look set to smash the club transfer record as they close in on the signing of Real Sociedad striker Alexander Isak.

The Premier League club are widely reported to have almost reached agreement with Sociedad over a deal thought to be worth in the region of £58 million ($68.4m) for the 22-year-old Swede.

This would comfortably overtake the Tyneside club's previous record of the £40m they paid Hoffenheim for Joelinton and Lyon to secure the services of Bruno Guimaraes in January.

Isak joined the La Liga club in 2019 from Borussia Dortmund and has scored 44 goals in 132 games, with his strike on Sunday their only goal in the 4-1 home thrashing by Barcelona.

He also has nine goals in 37 caps for Sweden, the first of which came when he was just 17 and made him his country's youngest goalscorer.

His arrival would be the clearest example yet of Newcastle's newfound spending power since they were taken over by a Saudi Arabian-led consortium last year.

In January, Kieran Trippier, Chris Wood, Dan Burn, Matty Targett and Guimaraes were all brought in as the club looked to drag themselves out of the relegation zone.

Newcastle 3 Manchester City 3: player ratings

  • NEWCASTLE RATINGS: Nick Pope - 8, It’s not often you’ll see a goalkeeper get this score after conceding three, but Pope made a plethora of impressive saves and interventions, including tipping Erling Haaland’s effort on to the post and stealing the ball from Ilkay Gundogan’s toes. AFP
    NEWCASTLE RATINGS: Nick Pope - 8, It’s not often you’ll see a goalkeeper get this score after conceding three, but Pope made a plethora of impressive saves and interventions, including tipping Erling Haaland’s effort on to the post and stealing the ball from Ilkay Gundogan’s toes. AFP
  • Kieran Trippier - 6, Left Ilkay Gundogan alone in the box for the opener but went on to put in a strong defensive performance after that and scored a stunning free kick for Newcastle’s third. Was shown a red card for a cynical tackle on Kevin De Bruyne as he attempted to run through but it was downgraded to a yellow. Reuters
    Kieran Trippier - 6, Left Ilkay Gundogan alone in the box for the opener but went on to put in a strong defensive performance after that and scored a stunning free kick for Newcastle’s third. Was shown a red card for a cynical tackle on Kevin De Bruyne as he attempted to run through but it was downgraded to a yellow. Reuters
  • Fabian Schar - 5, Could have done more to deny Gundogan for the opener and was booked for a late challenge on Phil Foden after being beaten to the ball. However, he battled well. Getty
    Fabian Schar - 5, Could have done more to deny Gundogan for the opener and was booked for a late challenge on Phil Foden after being beaten to the ball. However, he battled well. Getty
  • Sven Botman - 5, Some of his passing was off in the first half, but the Dutchman made a good header to find Callum Wilson in the opposition box, then made a good recovery after failing to deal with Phil Foden’s cross. Was saved by Pope after Haaland got behind him and struck over the crossbar. Action Images
    Sven Botman - 5, Some of his passing was off in the first half, but the Dutchman made a good header to find Callum Wilson in the opposition box, then made a good recovery after failing to deal with Phil Foden’s cross. Was saved by Pope after Haaland got behind him and struck over the crossbar. Action Images
  • Dan Burn - 5, Put in a good defensive display for large periods but completely lost Bernardo Silva for Newcastle’s equaliser. Provided Botman with a good knockdown late on. Got away with an under-hit back pass in the final stages then went off after Botman kicked the ball into his face. Getty
    Dan Burn - 5, Put in a good defensive display for large periods but completely lost Bernardo Silva for Newcastle’s equaliser. Provided Botman with a good knockdown late on. Got away with an under-hit back pass in the final stages then went off after Botman kicked the ball into his face. Getty
  • Joe Willock - 6, Gave the ball away cheaply leading to a good chance for City and he then made a good burst forward but waited slightly too long to play Wilson in. Put a good shift in. AFP
    Joe Willock - 6, Gave the ball away cheaply leading to a good chance for City and he then made a good burst forward but waited slightly too long to play Wilson in. Put a good shift in. AFP
  • Bruno Guimaraes - 7, Was booked inside eight minutes for a cynical foul on De Bruyne but did well to ensure he could make an impact without risking a second. Was unlucky not to get more after closing Rodri down. Getty
    Bruno Guimaraes - 7, Was booked inside eight minutes for a cynical foul on De Bruyne but did well to ensure he could make an impact without risking a second. Was unlucky not to get more after closing Rodri down. Getty
  • Joelinton - 8, Got through so much impressive work in the middle both in attack and defence, encapsulated when he forced Kyle Walker into a mistake by pressing him at the end of the first half. Was booked for a late challenge on Haaland. Getty
    Joelinton - 8, Got through so much impressive work in the middle both in attack and defence, encapsulated when he forced Kyle Walker into a mistake by pressing him at the end of the first half. Was booked for a late challenge on Haaland. Getty
  • Miguel Almiron - 7, Hit a horrible shot over the crossbar after being teed up by Allan Saint-Maximin, but got his goal by touching the ball into the net with his thigh. Made a great run to cause panic for Ederson. Getty
    Miguel Almiron - 7, Hit a horrible shot over the crossbar after being teed up by Allan Saint-Maximin, but got his goal by touching the ball into the net with his thigh. Made a great run to cause panic for Ederson. Getty
  • Callum Wilson - 7, Scuffed a shot straight into Ederson’s arms but then took a great touch and provided a composed finish to put Newcastle ahead. Getty
    Callum Wilson - 7, Scuffed a shot straight into Ederson’s arms but then took a great touch and provided a composed finish to put Newcastle ahead. Getty
  • Allan Saint-Maximin - 9, Troubled City’s defence all game and it was his running and quality final pass that created the openings for Newcastle’s first two goals. Then won the free kick for their third. AP
    Allan Saint-Maximin - 9, Troubled City’s defence all game and it was his running and quality final pass that created the openings for Newcastle’s first two goals. Then won the free kick for their third. AP
  • SUBS: Chris Wood (Wilson, 70’) - 6, Had some good touches but no opportunities to get on the scoresheet. Getty
    SUBS: Chris Wood (Wilson, 70’) - 6, Had some good touches but no opportunities to get on the scoresheet. Getty
  • Sean Longstaff (Willock, 70’) - 6, Got forward well to make a cross but it was blocked and worked hard for the team. Action Images
    Sean Longstaff (Willock, 70’) - 6, Got forward well to make a cross but it was blocked and worked hard for the team. Action Images
  • Jacob Murphy (Almiron, 83’) – N/R, Put in some good work down the right to help his team earn the point. EPA
    Jacob Murphy (Almiron, 83’) – N/R, Put in some good work down the right to help his team earn the point. EPA
  • Emil Krafth (Saint-Maximin, 94’) – N/R, Was beaten by Phil Foden but the cross came to nothing. Getty
    Emil Krafth (Saint-Maximin, 94’) – N/R, Was beaten by Phil Foden but the cross came to nothing. Getty
  • MANCHESTER CITY RATINGS: Ederson - 5, In addition to conceding three times, he was beaten to the ball by Almiron after coming out of his goal wildly, having to be bailed out by Joao Cancelo. EPA
    MANCHESTER CITY RATINGS: Ederson - 5, In addition to conceding three times, he was beaten to the ball by Almiron after coming out of his goal wildly, having to be bailed out by Joao Cancelo. EPA
  • Kyle Walker - 3, Had a torrid time attempting to deal with Saint-Maximin and needed to do better in the build-up to both of the first two goals. Overhit his cross in the final seconds when City were attempting to work an opening for the winner. Getty
    Kyle Walker - 3, Had a torrid time attempting to deal with Saint-Maximin and needed to do better in the build-up to both of the first two goals. Overhit his cross in the final seconds when City were attempting to work an opening for the winner. Getty
  • John Stones - 3, His poor pass started the move that then saw him get beaten by Saint-Maximin for the first, and the Frenchman got past him too easily for the second. Was booked for sliding in to stop Saint-Maximin on the edge of his own box for the free kick that Trippier scored for Newcastle’s third. His quick thinking from the corner started the move that resulted in City’s second. AP
    John Stones - 3, His poor pass started the move that then saw him get beaten by Saint-Maximin for the first, and the Frenchman got past him too easily for the second. Was booked for sliding in to stop Saint-Maximin on the edge of his own box for the free kick that Trippier scored for Newcastle’s third. His quick thinking from the corner started the move that resulted in City’s second. AP
  • Nathan Ake - 6, Was dominant on the ground and in the air before being forced off prematurely due to injury. Getty
    Nathan Ake - 6, Was dominant on the ground and in the air before being forced off prematurely due to injury. Getty
  • Joao Cancelo - 5, Was booked for a mistimed tackle on Almiron and he then did nothing to stop the Paraguayan scoring the equaliser. He slightly redeemed himself by making a great run and block to deny the same man. Reuters
    Joao Cancelo - 5, Was booked for a mistimed tackle on Almiron and he then did nothing to stop the Paraguayan scoring the equaliser. He slightly redeemed himself by making a great run and block to deny the same man. Reuters
  • Kevin De Bruyne - 8, Had a good free kick attempt stopped by Pope. The Belgian’s cross created the chance for Haaland’s goal and he played an absolutely exquisite pass to find Bernardo Silva for the equaliser. Getty
    Kevin De Bruyne - 8, Had a good free kick attempt stopped by Pope. The Belgian’s cross created the chance for Haaland’s goal and he played an absolutely exquisite pass to find Bernardo Silva for the equaliser. Getty
  • Rodri - 7, Hit two shots from range that did very little to trouble Pope and was unable to stop Newcastle breaking forward at times. Made a good header to deal with Trippier’s free kick delivery and did well to touch the ball into Haaland’s pass at the other end for City’s second. AFP
    Rodri - 7, Hit two shots from range that did very little to trouble Pope and was unable to stop Newcastle breaking forward at times. Made a good header to deal with Trippier’s free kick delivery and did well to touch the ball into Haaland’s pass at the other end for City’s second. AFP
  • Ilkay Gundogan - 7, Finished well for the opener after being afforded plenty of time in the Newcastle box and made some other good runs into dangerous areas. EPA
    Ilkay Gundogan - 7, Finished well for the opener after being afforded plenty of time in the Newcastle box and made some other good runs into dangerous areas. EPA
  • Phil Foden - 6, Caused problems in the first half but was selfish and had a shot saved from a tight angle when Haaland was in space in Newcastle’s box. Was involved in lovely link-up play at times. EPA
    Phil Foden - 6, Caused problems in the first half but was selfish and had a shot saved from a tight angle when Haaland was in space in Newcastle’s box. Was involved in lovely link-up play at times. EPA
  • Erling Haaland - 7, His brilliant running despite being pulled back by Willock created a chance for De Bruyne but the Norwegian then snatched at an opportunity after good work from Gundogan. Was unlucky to see his shot tipped on to the post after coming up with a brilliant touch, but there was no stopping hi clinical finish that gave City hope. Reuters
    Erling Haaland - 7, His brilliant running despite being pulled back by Willock created a chance for De Bruyne but the Norwegian then snatched at an opportunity after good work from Gundogan. Was unlucky to see his shot tipped on to the post after coming up with a brilliant touch, but there was no stopping hi clinical finish that gave City hope. Reuters
  • Bernardo Silva - 8, Showed brilliant composure and precision to pick out Gundogan for the opener. His under-hit pass almost got City in trouble but he made a great run and provided a tidy finish to equalise. EPA
    Bernardo Silva - 8, Showed brilliant composure and precision to pick out Gundogan for the opener. His under-hit pass almost got City in trouble but he made a great run and provided a tidy finish to equalise. EPA
  • SUB: Ruben Dias (Ake, 21’) - 5, Was unable to stop Wilson putting Newcastle ahead then couldn’t keep his header down at the end of the first half. Unlucky to see his header go straight at Pope. EPA
    SUB: Ruben Dias (Ake, 21’) - 5, Was unable to stop Wilson putting Newcastle ahead then couldn’t keep his header down at the end of the first half. Unlucky to see his header go straight at Pope. EPA

Under the guidance of manager Eddie Howe, they survived in style, with only Liverpool (51) Manchester City (43), and Tottenham Hotspur (41) acquiring more than their 38 points after the new year – and would finish the season in 11th place.

During the summer, Targett joined on a permanent deal while England goalkeeper Nick Pope and Dutch defender Sven Botman all joined the Magpies – but the search for a new striker proved frustrating.

The likes of Dominic Calvert-Lewin, Ivan Toney and Hugo Ekitike were all linked with a move – with the latter admitting he was close to joining but instead switched to another Ligue 1 club in Paris Saint-Germain from Reims.

And the club will be relieved that search now appears to have reached a successful conclusion, especially considering injury-prone first-choice striker Callum Wilson was sent for scans on a hamstring problem following Sunday's 3-3 draw with Manchester City.

Gallery: Newcastle 2 Nottingham Forest 0

  • Newcastle United's Callum Wilson celebrates scoring the second goal in the 2-0 win against Nottingham Forest on August 6, 2022. Reuters
    Newcastle United's Callum Wilson celebrates scoring the second goal in the 2-0 win against Nottingham Forest on August 6, 2022. Reuters
  • Newcastle United's Swiss defender Fabian Schar celebrates with Kieran Trippier after opening the scoring against Nottingham Forest. AFP
    Newcastle United's Swiss defender Fabian Schar celebrates with Kieran Trippier after opening the scoring against Nottingham Forest. AFP
  • Fabian Schar celebrates scoring the first goal. PA
    Fabian Schar celebrates scoring the first goal. PA
  • Newcastle's Callum Wilson scores their second goal past Forest's Dean Henderson. Action Images
    Newcastle's Callum Wilson scores their second goal past Forest's Dean Henderson. Action Images
  • Callum Wilson (R) celebrates after scoring. EPA
    Callum Wilson (R) celebrates after scoring. EPA
  • Newcastle coach Eddie Howe gestures during the match. AFP
    Newcastle coach Eddie Howe gestures during the match. AFP
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

How to avoid crypto fraud
  • Use unique usernames and passwords while enabling multi-factor authentication.
  • Use an offline private key, a physical device that requires manual activation, whenever you access your wallet.
  • Avoid suspicious social media ads promoting fraudulent schemes.
  • Only invest in crypto projects that you fully understand.
  • Critically assess whether a project’s promises or returns seem too good to be true.
  • Only use reputable platforms that have a track record of strong regulatory compliance.
  • Store funds in hardware wallets as opposed to online exchanges.
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Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants

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Remaining fixtures
  • August 29 – UAE v Saudi Arabia, Hazza bin Zayed Stadium, Al Ain
  • September 5 – Iraq v UAE, Amman, Jordan (venue TBC)
Labour dispute

The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.


- Abdullah Ishnaneh, Partner, BSA Law 

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

Our legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants

Brief scores:

England: 290 & 346

Sri Lanka: 336 & 243

The Africa Institute 101

Housed on the same site as the original Africa Hall, which first hosted an Arab-African Symposium in 1976, the newly renovated building will be home to a think tank and postgraduate studies hub (it will offer master’s and PhD programmes). The centre will focus on both the historical and contemporary links between Africa and the Gulf, and will serve as a meeting place for conferences, symposia, lectures, film screenings, plays, musical performances and more. In fact, today it is hosting a symposium – 5-plus-1: Rethinking Abstraction that will look at the six decades of Frank Bowling’s career, as well as those of his contemporaries that invested social, cultural and personal meaning into abstraction. 

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Kareem Shaheen on Canada
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World record transfers

1. Kylian Mbappe - to Real Madrid in 2017/18 - €180 million (Dh770.4m - if a deal goes through)
2. Paul Pogba - to Manchester United in 2016/17 - €105m
3. Gareth Bale - to Real Madrid in 2013/14 - €101m
4. Cristiano Ronaldo - to Real Madrid in 2009/10 - €94m
5. Gonzalo Higuain - to Juventus in 2016/17 - €90m
6. Neymar - to Barcelona in 2013/14 - €88.2m
7. Romelu Lukaku - to Manchester United in 2017/18 - €84.7m
8. Luis Suarez - to Barcelona in 2014/15 - €81.72m
9. Angel di Maria - to Manchester United in 2014/15 - €75m
10. James Rodriguez - to Real Madrid in 2014/15 - €75m

UAE currency: the story behind the money in your pockets
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The alternatives

• Founded in 2014, Telr is a payment aggregator and gateway with an office in Silicon Oasis. It’s e-commerce entry plan costs Dh349 monthly (plus VAT). QR codes direct customers to an online payment page and merchants can generate payments through messaging apps.

• Business Bay’s Pallapay claims 40,000-plus active merchants who can invoice customers and receive payment by card. Fees range from 1.99 per cent plus Dh1 per transaction depending on payment method and location, such as online or via UAE mobile.

• Tap started in May 2013 in Kuwait, allowing Middle East businesses to bill, accept, receive and make payments online “easier, faster and smoother” via goSell and goCollect. It supports more than 10,000 merchants. Monthly fees range from US$65-100, plus card charges of 2.75-3.75 per cent and Dh1.2 per sale.

• 2checkout’s “all-in-one payment gateway and merchant account” accepts payments in 200-plus markets for 2.4-3.9 per cent, plus a Dh1.2-Dh1.8 currency conversion charge. The US provider processes online shop and mobile transactions and has 17,000-plus active digital commerce users.

• PayPal is probably the best-known online goods payment method - usually used for eBay purchases -  but can be used to receive funds, providing everyone’s signed up. Costs from 2.9 per cent plus Dh1.2 per transaction.

Real estate tokenisation project

Dubai launched the pilot phase of its real estate tokenisation project last month.

The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.

Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.

Our family matters legal consultant

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Updated: August 24, 2022, 6:02 PM
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