• Manchester United's Diogo Dalot celebrates after the 3-1 Premier League win over Arsenal at Old Trafford on September 4, 2022. Getty
    Manchester United's Diogo Dalot celebrates after the 3-1 Premier League win over Arsenal at Old Trafford on September 4, 2022. Getty
  • Diogo Dalot and Jadon Sancho of Manchester United celebrate following their victory over Arsenal. Getty Images
    Diogo Dalot and Jadon Sancho of Manchester United celebrate following their victory over Arsenal. Getty Images
  • Arsenal's Gabriel Martinelli in action with Manchester United's Diogo Dalot. Reuters
    Arsenal's Gabriel Martinelli in action with Manchester United's Diogo Dalot. Reuters
  • Manchester United's Diogo Dalot celebrates. AP Photo
    Manchester United's Diogo Dalot celebrates. AP Photo
  • Manchester United's Diogo Dalot, left, challenges for the ball with Arsenal's Gabriel Martinelli. AP Photo
    Manchester United's Diogo Dalot, left, challenges for the ball with Arsenal's Gabriel Martinelli. AP Photo
  • Manchester United's Raphael Varane, left, and Diogo Dalot celebrate. AP Photo
    Manchester United's Raphael Varane, left, and Diogo Dalot celebrate. AP Photo
  • Arsenal's Brazilian midfielder Gabriel Martinelli vies with Manchester United's Portuguese defender Diogo Dalot. AFP
    Arsenal's Brazilian midfielder Gabriel Martinelli vies with Manchester United's Portuguese defender Diogo Dalot. AFP
  • Manchester United's Diogo Dalot celebrates after the match. Reuters
    Manchester United's Diogo Dalot celebrates after the match. Reuters

Diogo Dalot: Antony showed he can make a difference at Manchester United


Andy Mitten
  • English
  • Arabic

Diogo Dalot, 23, has started all six Manchester United games this season, establishing himself at right back ahead of Aaron Wan Bissaka. After United’s 3-1 win at home to Arsenal, the Portuguese international spoke to journalists in the mixed zone.

Another win, four in a row. The first time since April 2021 in the Premier League. A long time coming, but is it important to build momentum?

Yes. This is what we've been working for. To be honest, it's a good moment for us, we want to take this as an opportunity to keep it going, to give motivation to everyone at the club, to the fans as well. But we know that is still a process and we want to keep it going.

Are you feeling that you're playing your best football since you came to Manchester United?

I feel it's been a good moment, individually. Obviously, collectively when you are good, the individuals come afterwards. This is what I've been fighting for to show my level. This is the level that I want to keep for a long time. There's still room for improvement of course and this is what I aim for every single day, to improve what I need to improve, but keep the consistency, keep the level high, because this is the standard of this club.

Why is this happening?

I mean, a lot of work. This is the type of mentality that I want to have. Always searching for ways to improve every single day to help the club, to help the team that needs me and obviously I believe that I'm capable of doing it.

So how was it playing with Antony?

Very good. He showed that in just two or three days that he could come in and make the difference he made with a beautiful goal, a beautiful team goal. And I think is one more player to help. We want to build a very good squad this season and with him I think we’re going to have more quality.

The manager said a few days ago that Antony only had two training sessions with the team. What was he like?

He has the advantage of knowing the way that the manager thinks, he's already adapted to his football side, now he’s adapted to the new teammates. I think you could see in the minutes that he played that he showed some character, showed some desire and I'm sure that everyone will love that. And obviously the quality that he has, the mentality that he has, I think will improve.

United v Arsenal ratings

  • MANCHESTER UNITED RATINGS: David De Gea 7: His best first-half moment was a 32nd minute save from Martinelli – three minutes after a save with his feet from same player. Getty
    MANCHESTER UNITED RATINGS: David De Gea 7: His best first-half moment was a 32nd minute save from Martinelli – three minutes after a save with his feet from same player. Getty
  • Diogo Dalot 6: Cut the ball back towards Bruno in a second minute attack. That a right back was in an advanced attacking position on the left shows how far forward he can go. Crisp passing forward to Antony. Reuters
    Diogo Dalot 6: Cut the ball back towards Bruno in a second minute attack. That a right back was in an advanced attacking position on the left shows how far forward he can go. Crisp passing forward to Antony. Reuters
  • Raphael Varane 6: Busy with Jesus in front of him and the pair tussled throughout. His ball led to Arsenal’s equaliser. But another 90 minutes under his belt, the fourth in a row. And with those, four victories. EPA
    Raphael Varane 6: Busy with Jesus in front of him and the pair tussled throughout. His ball led to Arsenal’s equaliser. But another 90 minutes under his belt, the fourth in a row. And with those, four victories. EPA
  • Lisandro Martinez 7: Lucky not to be booked early on. Competitive, intelligent and occasional erratic. The only player to stop Jesus in one early attack. Arsenal’s equaliser went through his legs. Left the field with fans singing ‘Argentina!’ in his honour. AFP
    Lisandro Martinez 7: Lucky not to be booked early on. Competitive, intelligent and occasional erratic. The only player to stop Jesus in one early attack. Arsenal’s equaliser went through his legs. Left the field with fans singing ‘Argentina!’ in his honour. AFP
  • Tyrell Malacia 6: His hardest match since he joined United. Beaten for pace by Saka in an 18th minute Arsenal attack, made a couple of clumsy challenges, but found his groove and played the duration. Roared as he outjumped the taller Nketiah in injury time. Getty
    Tyrell Malacia 6: His hardest match since he joined United. Beaten for pace by Saka in an 18th minute Arsenal attack, made a couple of clumsy challenges, but found his groove and played the duration. Roared as he outjumped the taller Nketiah in injury time. Getty
  • Scott McTominay 8: Keeping his place in side after solid recent performances. Tackled Jesus strongly to a roar after six minutes. Yellow card after 70 after he wrestled same player to ground. Connected with a Martinelli bound cross on 90 – to congratulations from De Gea. AP
    Scott McTominay 8: Keeping his place in side after solid recent performances. Tackled Jesus strongly to a roar after six minutes. Yellow card after 70 after he wrestled same player to ground. Connected with a Martinelli bound cross on 90 – to congratulations from De Gea. AP
  • Christian Eriksen 8: Volleyed wide in opening 10 minutes. Integral to setting up Antony’s goal. Tireless, creative. Fouled by Odegaard in the run up what Arsenal thought was a goal in first half. His best game since joining United. Getty
    Christian Eriksen 8: Volleyed wide in opening 10 minutes. Integral to setting up Antony’s goal. Tireless, creative. Fouled by Odegaard in the run up what Arsenal thought was a goal in first half. His best game since joining United. Getty
  • Bruno Fernandes 7: Groans after he lost possession a couple of times in the first half. Badly fouled by Sambi after 26 and went to ground. Tries the risky ball forward all the time – like when he set up Rashford for the second. Grafted non stop. AFP
    Bruno Fernandes 7: Groans after he lost possession a couple of times in the first half. Badly fouled by Sambi after 26 and went to ground. Tries the risky ball forward all the time – like when he set up Rashford for the second. Grafted non stop. AFP
  • Antony 8: Dream debut for the big money signing. Incredible skill to get the ball to Dalot from a cul-de-sac with two Arsenal players around him. Put his team ahead and celebrated like it was the greatest moment of his life. Tried a chip from distance on 45. A quiet second half. Getty
    Antony 8: Dream debut for the big money signing. Incredible skill to get the ball to Dalot from a cul-de-sac with two Arsenal players around him. Put his team ahead and celebrated like it was the greatest moment of his life. Tried a chip from distance on 45. A quiet second half. Getty
  • Jadon Sancho 6: A shot on target after 10 in a bright start for United. He wasn’t decisive, he didn’t beat his man enough, he wasn’t really heavily involved. AP
    Jadon Sancho 6: A shot on target after 10 in a bright start for United. He wasn’t decisive, he didn’t beat his man enough, he wasn’t really heavily involved. AP
  • Marcus Rashford 8: Beautifully timed ball to set up Antony for United’s opening goal. Then put United back in front after 65, sprinting onto a Fernandes pass and finishing in front of the Stretford End. Quality moment, as was his second for the third goal. Left the field with Stretford End singing his name. EPA
    Marcus Rashford 8: Beautifully timed ball to set up Antony for United’s opening goal. Then put United back in front after 65, sprinting onto a Fernandes pass and finishing in front of the Stretford End. Quality moment, as was his second for the third goal. Left the field with Stretford End singing his name. EPA
  • SUBS: Cristiano Ronaldo (On for Antony 58’) 6: Jumped high to head an Eriksen ball. Poor cross towards goal on 72 and gave the ball away on 90, too. AFP
    SUBS: Cristiano Ronaldo (On for Antony 58’) 6: Jumped high to head an Eriksen ball. Poor cross towards goal on 72 and gave the ball away on 90, too. AFP
  • Fred (On for Sancho 67’) 6: Played in a more advanced role than usual. Counter attacked on 82, but played a poor ball forward to Ronaldo. Did similar oin injury time. AFP
    Fred (On for Sancho 67’) 6: Played in a more advanced role than usual. Counter attacked on 82, but played a poor ball forward to Ronaldo. Did similar oin injury time. AFP
  • Harry Maguire (On for Martinez 80’) N/A. Picked up a yellow within a minute. Getty
    Harry Maguire (On for Martinez 80’) N/A. Picked up a yellow within a minute. Getty
  • Casemiro (On for Rashford 80’). Getty
    Casemiro (On for Rashford 80’). Getty
  • ARSENAL RATINGS: Aaron Ramsdale 6: No sign of problem that made him injury doubt. Blocked early Sancho strike with legs in 10th minute and forced into good save from Fernandes in second half after gifting the ball to United with woeful pass out. No chance with goals as defence was pulled apart each time. Reuters
    ARSENAL RATINGS: Aaron Ramsdale 6: No sign of problem that made him injury doubt. Blocked early Sancho strike with legs in 10th minute and forced into good save from Fernandes in second half after gifting the ball to United with woeful pass out. No chance with goals as defence was pulled apart each time. Reuters
  • Ben White 7: Intriguing contest with England teammate Sancho and won the battle keeping the former Dortmund attacker very quiet, but United man will have bragging honours with final result. Getty
    Ben White 7: Intriguing contest with England teammate Sancho and won the battle keeping the former Dortmund attacker very quiet, but United man will have bragging honours with final result. Getty
  • William Saliba 6: Defender side-footed good chance wide of target in opening 10 minutes. Booked for tactical foul on Sancho. Caught out by pass through middle for Rashford’s first goal. Reuters
    William Saliba 6: Defender side-footed good chance wide of target in opening 10 minutes. Booked for tactical foul on Sancho. Caught out by pass through middle for Rashford’s first goal. Reuters
  • Gabriel 6: Dragged well out of position in run-up to Antony goal. Had helped keep Rashford’s influence to a minimum, until England attacker suddenly bagged himself two goals in nine minutes as Arsenal’s back line was ripped apart. Getty
    Gabriel 6: Dragged well out of position in run-up to Antony goal. Had helped keep Rashford’s influence to a minimum, until England attacker suddenly bagged himself two goals in nine minutes as Arsenal’s back line was ripped apart. Getty
  • Oleksandr Zinchenko 6: Up against a bag of tricks in United new boy Antony. Forced to cover for Gabriel and pulled out of position himself ahead of Brazilian’s opener. Getty
    Oleksandr Zinchenko 6: Up against a bag of tricks in United new boy Antony. Forced to cover for Gabriel and pulled out of position himself ahead of Brazilian’s opener. Getty
  • Albert Sambi Lokonga 6: Neat and tidy, combining with Xhaka to do the donkey work and help Odegaard pull strings and control game for an hour. But Arsenal completely lost control of midfield after second United goal. EPA
    Albert Sambi Lokonga 6: Neat and tidy, combining with Xhaka to do the donkey work and help Odegaard pull strings and control game for an hour. But Arsenal completely lost control of midfield after second United goal. EPA
  • Granit Xhaka 6: Had produced impressive show in middle of park until Arsenal made triple substitution and team completely lost shape. Made right mess of pass near touchline at 3-1 down that almost resulted in United scoring again. Reuters
    Granit Xhaka 6: Had produced impressive show in middle of park until Arsenal made triple substitution and team completely lost shape. Made right mess of pass near touchline at 3-1 down that almost resulted in United scoring again. Reuters
  • Bukayo Saka 8: Nice through ball to Martinelli before attacker’s early goal was disallowed. Left Malacia for dead with one surging first-half run. Pulled shot across face of goal just after break but made no mistake on the hour with goal that had been coming. Late booking for foul on Malacia was sign of Arsenal frustration. Getty
    Bukayo Saka 8: Nice through ball to Martinelli before attacker’s early goal was disallowed. Left Malacia for dead with one surging first-half run. Pulled shot across face of goal just after break but made no mistake on the hour with goal that had been coming. Late booking for foul on Malacia was sign of Arsenal frustration. Getty
  • Martin Odegaard 7: Captain bundled over Eriksen at start of move that resulted in Martinell’s goal being chalked off. Sprayed the ball around superbly in midfield as Gunners dominated large sections of game. PA
    Martin Odegaard 7: Captain bundled over Eriksen at start of move that resulted in Martinell’s goal being chalked off. Sprayed the ball around superbly in midfield as Gunners dominated large sections of game. PA
  • Gabriel Martinelli 7: Could have had first-half hat-trick. Showed cool head to finish after 12 minutes but goal disallowed after VAR check. Had shot and header saved by De Gea. AFP
    Gabriel Martinelli 7: Could have had first-half hat-trick. Showed cool head to finish after 12 minutes but goal disallowed after VAR check. Had shot and header saved by De Gea. AFP
  • Gabriel Jesus 8: Taunted with “City reject” chants from home fans from first minute but led the line superbly and caused United’s defence constant problems. Best player on pitch for 65 minutes until Arsenal lost all shape and capitulated. AFP
    Gabriel Jesus 8: Taunted with “City reject” chants from home fans from first minute but led the line superbly and caused United’s defence constant problems. Best player on pitch for 65 minutes until Arsenal lost all shape and capitulated. AFP
  • SUBS: Emile Smith Rowe (On for Odegaard 74’) 4: One of three attacking substitutions by Mikel Arteta that left Arsenal totally open at the back. Reuters
    SUBS: Emile Smith Rowe (On for Odegaard 74’) 4: One of three attacking substitutions by Mikel Arteta that left Arsenal totally open at the back. Reuters
  • Fabio Vieira (On for Zinchenko 74’) 4: Volleyed one shot well over bar from edge of box.
    Fabio Vieira (On for Zinchenko 74’) 4: Volleyed one shot well over bar from edge of box.
  • Eddie Nketiah (On for Sambi Lokonga 74’) 4: No chance to make impact. AP
    Eddie Nketiah (On for Sambi Lokonga 74’) 4: No chance to make impact. AP
  • Takehiro Tomayisu (On for White 80’) N/A. AFP
    Takehiro Tomayisu (On for White 80’) N/A. AFP

It must help that you both speak Portuguese.

It makes it easier when you speak because it comes more naturally, but we want to build a relationship between every player on the pitch and not only on the pitch but in every single training session. We want to keep this coordination between players as much as we can, so whoever is on the pitch we have a good relationship – with Antony or another winger.

Are the players fighting a bit more?

I think it comes from the messages the manager passes to us, but the main point has been from ourselves. To be at this club you have to fight for it, you have to fight for 90 minutes every single game and this is what we are trying to do, then I think the quality will come up. But the basics, the standards of the club are like this and if we continue to do this for a big period of time I think we will get success. But we know it's a marathon, not a sprint, this is going to be a long season and we need all the little points, the wins to build momentum and today was a beautiful afternoon.

You were up against a quality Arsenal side.

We knew this was going to be a tough game. Arsenal, it was not by chance that they won the first five games. Today we showed we needed to be a team to win against such a good team and we deserved the three points.

Bruno Fernandes seems to have rediscovered something. Have you noticed it?

He's a confident player, we know we need to bring everyone up and after the two games we didn't win, we tried to motivate each other a little bit more and you can see it on the pitch. We need to keep going, not only Bruno but everyone will show the quality they have and for the greater good, which is for the team.

UAE squad

Ali Kashief, Salem Rashid, Khalifa Al Hammadi, Khalfan Mubarak, Ali Mabkhout, Omar Abdelrahman, Mohammed Al Attas (Al Jazira), Mohmmed Al Shamsi, Hamdan Al Kamali, Mohammad Barghash, Khalil Al Hammadi (Al Wahda), Khalid Eisa, Mohammed Shakir, Ahmed Barman, Bandar Al Ahbabi (Al Ain), Adel Al Hosani, Al Hassan Saleh, Majid Suroor (Sharjah), Waleed Abbas, Ismail Al Hammadi, Ahmed Khalil (Shabab Al Ahli Dubai) Habib Fardan, Tariq Ahmed, Mohammed Al Akbari (Al Nasr), Ali Saleh, Ali Salmeen (Al Wasl), Hassan Al Mahrami (Baniyas)

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.”

Timeline

2012-2015

The company offers payments/bribes to win key contracts in the Middle East

May 2017

The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts

September 2021

Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act

October 2021

Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence 

December 2024

Petrofac enters into comprehensive restructuring to strengthen the financial position of the group

May 2025

The High Court of England and Wales approves the company’s restructuring plan

July 2025

The Court of Appeal issues a judgment challenging parts of the restructuring plan

August 2025

Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision

October 2025

Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange

November 2025

180 Petrofac employees laid off in the UAE

Concrete and Gold
Foo Fighters
RCA records

Top 10 most polluted cities
  1. Bhiwadi, India
  2. Ghaziabad, India
  3. Hotan, China
  4. Delhi, India
  5. Jaunpur, India
  6. Faisalabad, Pakistan
  7. Noida, India
  8. Bahawalpur, Pakistan
  9. Peshawar, Pakistan
  10. Bagpat, India
If you go...

Fly from Dubai or Abu Dhabi to Chiang Mai in Thailand, via Bangkok, before taking a five-hour bus ride across the Laos border to Huay Xai. The land border crossing at Huay Xai is a well-trodden route, meaning entry is swift, though travellers should be aware of visa requirements for both countries.

Flights from Dubai start at Dh4,000 return with Emirates, while Etihad flights from Abu Dhabi start at Dh2,000. Local buses can be booked in Chiang Mai from around Dh50

UAE%20athletes%20heading%20to%20Paris%202024
%3Cp%3E%3Cstrong%3EEquestrian%3Cbr%3E%3C%2Fstrong%3EAbdullah%20Humaid%20Al%20Muhairi%2C%20Abdullah%20Al%20Marri%2C%20Omar%20Al%20Marzooqi%2C%20Salem%20Al%20Suwaidi%2C%20and%20Ali%20Al%20Karbi%20(four%20to%20be%20selected).%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3E%3Cbr%3EJudo%3Cbr%3E%3C%2Fstrong%3EMen%3A%20Narmandakh%20Bayanmunkh%20(66kg)%2C%20Nugzari%20Tatalashvili%20(81kg)%2C%20Aram%20Grigorian%20(90kg)%2C%20Dzhafar%20Kostoev%20(100kg)%2C%20Magomedomar%20Magomedomarov%20(%2B100kg)%3B%20women's%20Khorloodoi%20Bishrelt%20(52kg).%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3E%3Cbr%3ECycling%3Cbr%3E%3C%2Fstrong%3ESafia%20Al%20Sayegh%20(women's%20road%20race).%3Cstrong%3E%3Cbr%3E%3C%2Fstrong%3E%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ESwimming%3Cbr%3E%3C%2Fstrong%3EMen%3A%20Yousef%20Rashid%20Al%20Matroushi%20(100m%20freestyle)%3B%20women%3A%20Maha%20Abdullah%20Al%20Shehi%20(200m%20freestyle).%3Cstrong%3E%3Cbr%3E%3C%2Fstrong%3E%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EAthletics%3Cbr%3E%3C%2Fstrong%3EMaryam%20Mohammed%20Al%20Farsi%20(women's%20100%20metres).%3C%2Fp%3E%0A
RESULTS

5pm: Maiden (PA) Dh80,000 2,200m
Winner: Arjan, Fabrice Veron (jockey), Eric Lemartinel (trainer).

5.30pm: Maiden (PA) Dh80,000 1,400m​​​​​​​
Winner: Jap Nazaa, Royston Ffrench, Irfan Ellahi.

6pm: Al Ruwais Group 3 (PA) Dh300,000 1,200m​​​​​​​
Winner: RB Lam Tara, Fabrice Veron, Eric Lemartinal.

6.30pm: Shadwell Gold Cup Prestige Dh125,000 1,600m​​​​​​​
Winner: AF Sanad, Bernardo Pinheiro, Khalifa Al Neyadi.

7pm: Shadwell Farm Stallions Handicap (PA) Dh70,000 1,600m​​​​​​​
Winner: Jawal Al Reef, Patrick Cosgrave, Abdallah Al Hammadi.

7.30pm: Maiden (TB) Dh80,000 1,600m​​​​​​​
Winner: Dubai Canal, Harry Bentley, Satish Seemar.

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

White hydrogen: Naturally occurring hydrogenChromite: Hard, metallic mineral containing iron oxide and chromium oxideUltramafic rocks: Dark-coloured rocks rich in magnesium or iron with very low silica contentOphiolite: A section of the earth’s crust, which is oceanic in nature that has since been uplifted and exposed on landOlivine: A commonly occurring magnesium iron silicate mineral that derives its name for its olive-green yellow-green colour

Company%20profile
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Updated: September 05, 2022, 1:43 PM