• Argentina's Lionel Messi fights for the ball with Netherlands' forward Cody Gakpo during the Qatar 2022 World Cup quarter-final. AFP
    Argentina's Lionel Messi fights for the ball with Netherlands' forward Cody Gakpo during the Qatar 2022 World Cup quarter-final. AFP
  • Louis van Gaal, coach of Netherlands, consoles Cody Gakpo after the loss against Argentina. Getty
    Louis van Gaal, coach of Netherlands, consoles Cody Gakpo after the loss against Argentina. Getty
  • Cody Gakpo falls over Argentina midfielder Leandro Paredes. AFP
    Cody Gakpo falls over Argentina midfielder Leandro Paredes. AFP
  • Cody Gakpo celebrates scoring the opening goal against Senegal. AP
    Cody Gakpo celebrates scoring the opening goal against Senegal. AP
  • Cody Gakpo with teammate Daley Blind after scoring against Ecuador. EPA
    Cody Gakpo with teammate Daley Blind after scoring against Ecuador. EPA
  • PSV Eindhoven's Cody Gakpo in action against Arsenal's Takehiro Tomiyasu in the Europa League in October. Reuters
    PSV Eindhoven's Cody Gakpo in action against Arsenal's Takehiro Tomiyasu in the Europa League in October. Reuters
  • Leicester's Wesley Fofana, left, and PSV's Cody Gakpo in April, 2022. AP
    Leicester's Wesley Fofana, left, and PSV's Cody Gakpo in April, 2022. AP
  • Cody Gakpo of PSV Eindhoven. Getty
    Cody Gakpo of PSV Eindhoven. Getty

Liverpool build for a new era by landing the huge potential of Dutch star Cody Gakpo


Ian Hawkey
  • English
  • Arabic

On the one side, there was a Dutch coach, with a clear respect for players who have achieved well in Dutch football. But on the other, there was the captain of the Netherlands, Virgil Van Dijk, who turned out to be a persuasive voice in the choices facing Cody Gakpo.

Gakpo, a breakout star of the World Cup, listened to Liverpool’s Van Dijk and it helped him to the decision that means he is spending the last days of 2022 finalising a move from PSV Eindhoven to Anfield.

“Quality is always welcome at Liverpool,” said Van Dijk, anticipating the arrival of his gifted compatriot. It is a transfer in which Manchester United, who had a sustained and active interest in recruiting Gakpo, have finished as bystanders.

United’s manager, Dutchman Erik ten Hag, will now focus attention elsewhere, but he remains an admirer of Gakpo, having watched the 23-year-old come through the academy at PSV and win last season’s Eredivisie Footballer of the Year Award ahead of players from Ten Hag’s then club, Ajax, who won the league.

Gakpo was certainly on United’s wishlist in the summer, when, with Ten Hag taking over, Antony and Lisandro Martinez were signed from Ajax and Tyrell Malacia from Feyenoord. With Cristiano Ronaldo departing Old Trafford last month, a new striker became a priority for the winter window, which opens on January 1.

Gakpo was on the United agenda. He may not be an out-and-out centre-forward but he is a goalscorer of many assets and huge potential. Liverpool have staged what they believe is a significant ambush by making a deal with PSV that offered the selling club a bigger up-front tranche – of a fee that could rise over €50 million – than other suitors had proposed.

“It is a record transfer fee for PSV,” confirmed the Dutch club’s general manager Marcel Brands, soothing supporters’ concerns about the team’s stellar player departing mid-season with the positive implications of substantial sums to be reinvested.

“There comes a moment when you can’t say no,” admitted PSV coach Ruud van Nistelrooy, himself a former United striker. “If I had a choice I would choose that he left in the summer.”

Van Nistelrooy has largely used Gakpo’s surging acceleration and his powerful shot from wide on the left of the PSV attack – to great effect. He had racked up 13 goals and 17 assists in 24 club matches across competitions in the first half of the season leading up to the World Cup.

Netherlands lose out to Argentina

  • Lionel Messi and Leandro Paredes celebrate after Argentina defeated the Netherlands in the penalty shoot-out in their World Cup quarter-final at the Lusail Stadium, on December 9, 2022. Getty
    Lionel Messi and Leandro Paredes celebrate after Argentina defeated the Netherlands in the penalty shoot-out in their World Cup quarter-final at the Lusail Stadium, on December 9, 2022. Getty
  • Argentina players celebrate at the end of the match. AP
    Argentina players celebrate at the end of the match. AP
  • Nicolas Otamendi of Argentina celebrates after their victory. Getty
    Nicolas Otamendi of Argentina celebrates after their victory. Getty
  • Argentina players celebrate after their win. Getty
    Argentina players celebrate after their win. Getty
  • Lautaro Martinez celebrates after scoring the winning penalty for Argentina. Getty
    Lautaro Martinez celebrates after scoring the winning penalty for Argentina. Getty
  • Lautaro Martinez scores the winning penalty for Argentina. Getty
    Lautaro Martinez scores the winning penalty for Argentina. Getty
  • Argentina players celebrate after their win in the penalty shoot-out. Getty
    Argentina players celebrate after their win in the penalty shoot-out. Getty
  • Argentina goalkeeper Emiliano Martinez saves from Virgil van Dijk of the Netherlands in the penalty shoot-out. AP
    Argentina goalkeeper Emiliano Martinez saves from Virgil van Dijk of the Netherlands in the penalty shoot-out. AP
  • Wout Weghorst scores for the Netherlands during penalty shoot-out. AP
    Wout Weghorst scores for the Netherlands during penalty shoot-out. AP
  • Wout Weghorst celebrates after making it 2-2. AP
    Wout Weghorst celebrates after making it 2-2. AP
  • Dutch striker Wout Weghorst scores his second goal. Getty
    Dutch striker Wout Weghorst scores his second goal. Getty
  • Lionel Messi celebrates scoring Argentina's second goal. Reuters
    Lionel Messi celebrates scoring Argentina's second goal. Reuters
  • Argentina's Lionel Messi scores from the spot to make it 2-0. PA
    Argentina's Lionel Messi scores from the spot to make it 2-0. PA
  • Netherlands substitute Wout Weghorst celebrates after making it 2-2. Getty
    Netherlands substitute Wout Weghorst celebrates after making it 2-2. Getty
  • Dutch defender Denzel Dumfries fouls Marcos Acuna of Argentina in the box which leads to an Argentina penalty. Getty
    Dutch defender Denzel Dumfries fouls Marcos Acuna of Argentina in the box which leads to an Argentina penalty. Getty
  • Nahuel Molina celebrates after scoring for Argentina in the first half. Getty
    Nahuel Molina celebrates after scoring for Argentina in the first half. Getty
  • Nahuel Molina finishes past Dutch goalkeeper Andries Noppert to score for Argentina. AP
    Nahuel Molina finishes past Dutch goalkeeper Andries Noppert to score for Argentina. AP
  • Argentina's Lionel Messi surrounded by Cody Gakpo, Memphis Depay and Frenkie de Jong of the Netherlands. EPA
    Argentina's Lionel Messi surrounded by Cody Gakpo, Memphis Depay and Frenkie de Jong of the Netherlands. EPA
  • Nahuel Molina scores for Argentina. Getty
    Nahuel Molina scores for Argentina. Getty
  • Wout Weghorst of the Netherlands celebrates after scoring his second goal. AP
    Wout Weghorst of the Netherlands celebrates after scoring his second goal. AP
  • Tempers fray late in the game after Leandro Paredes booted the ball at the Dutch bench. Getty
    Tempers fray late in the game after Leandro Paredes booted the ball at the Dutch bench. Getty
  • Argentina's Lionel Messi curls a free-kick over the bar. Reuters
    Argentina's Lionel Messi curls a free-kick over the bar. Reuters
  • Referee Antonio Mateu shows a yellow card to Jurrien Timber of the Netherlands. AP
    Referee Antonio Mateu shows a yellow card to Jurrien Timber of the Netherlands. AP
  • Nahuel Molina celebrates with Lionel Messi after scoring for Argentina. Getty
    Nahuel Molina celebrates with Lionel Messi after scoring for Argentina. Getty
  • Nahuel Molina after scoring for Argentina. AP
    Nahuel Molina after scoring for Argentina. AP
  • Tempers fray late on the game. Getty
    Tempers fray late on the game. Getty
  • Lionel Messi on the attack for Argentina. EPA
    Lionel Messi on the attack for Argentina. EPA
  • Wout Weghorst heads home his first goal for the Dutch. PA.
    Wout Weghorst heads home his first goal for the Dutch. PA.
  • Argentina manager Lionel Scaloni argues with Spanish referee Antonio Mateu after assistant coach Walter Samuel was shown a yellow card. AFP
    Argentina manager Lionel Scaloni argues with Spanish referee Antonio Mateu after assistant coach Walter Samuel was shown a yellow card. AFP
  • Lionel Messi of Argentina curls a free-kick over the bar. Getty
    Lionel Messi of Argentina curls a free-kick over the bar. Getty

In Qatar, he put on display his wide range of qualities and his maturity, operating just off a central striker, on the wing or sometimes as a target man, and taking responsibility for delivering many of the Netherlands’ set-pieces.

He scored in each group match: a headed goal, using his leap and 1.89-metre height to beat Senegal goalkeeper Edu Mendy; he followed up with a forceful left-footed drive against Ecuador on match day two. He put the Dutch on the way to their 2-0 win over Qatar with a precise right-footed finish.

“He is open to anything,” said Louis Van Gaal, the veteran coach who took charge of the national team at the World Cup, “and he always gives his all. He has huge talent and a great personality.”

Jurgen Klopp, the Liverpool manager, looks forward to being the gleeful inheritor of all that. Klopp was kept up to date with the progress of his club’s talks with PSV, aware that several major clubs were keen on recruiting Gakpo in either the winter, or summer 2023, transfer windows.

Luis Diaz's arrival during the last winter transfer window was crucial to Liverpool's strong end to the season, and Jurgen Klopp will hope Cody Gakpo can have a similar impact. Reuters
Luis Diaz's arrival during the last winter transfer window was crucial to Liverpool's strong end to the season, and Jurgen Klopp will hope Cody Gakpo can have a similar impact. Reuters

Liverpool’s need was urgent, Klopp persuaded his executives, with the race for a top-four Premier League spot – and guaranteed Champions League football next season – made more challenging by a flat start to the 2022-23 campaign. Diogo Jota and Luis Diaz, key players for the wide roles in Klopp’s attacking trio, are also recovering from injury and unavailable until at least February and March, respectively.

If Gakpo were to make anything like the same quick impact as Diaz, signed from Porto 11 months ago, Klopp would be delighted. Last season, the Colombian galvanised a Champions League run that ended at the final with key contributions in the knockout ties against Benfica and Villarreal and added energy to a vibrant domestic season that yielded triumphs in both English cups and a second place in the Premier League.

The capture of Diaz, like that of Gakpo, meant stealthily trumping rival interest, with Liverpool stealing ahead of Tottenham Hotspur to seal the deal.

Gakpo’s imminent arrival also represents the latest stage in the long-term plan to transition from the era in which Mohamed Salah, Roberto Firmino and Sadio Mane made themselves the three established musketeers of Klopp’s front line.

Mane joined Bayern Munich last summer, and like Salah and Firmino, is now in his 30s. In three successive transfer windows, over €150m has now been staked on their successors, in the shape of Diaz, 25, Darwin Nunez, 23, and Gakpo.

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DUBAI SEVENS 2018 DRAW

Gulf Men’s League
Pool A – Dubai Exiles, Dubai Hurricanes, Bahrain, Dubai Sports City Eagles
Pool B – Jebel Ali Dragons, Abu Dhabi Saracens, Abu Dhabi Harlequins, Al Ain Amblers

Gulf Men’s Open
Pool A – Bahrain Firbolgs, Arabian Knights, Yalla Rugby, Muscat
Pool B – Amman Citadel, APB Dubai Sharks, Jebel Ali Dragons 2, Saudi Rugby
Pool C – Abu Dhabi Harlequins 2, Roberts Construction, Dubai Exiles 2
Pool D – Dubai Tigers, UAE Shaheen, Sharjah Wanderers, Amman Citadel 2

Gulf U19 Boys
Pool A – Deira International School, Dubai Hurricanes, British School Al Khubairat, Jumeirah English Speaking School B
Pool B – Dubai English Speaking College 2, Jumeirah College, Dubai College A, Abu Dhabi Harlequins 2
Pool C – Bahrain Colts, Al Yasmina School, DESC, DC B
Pool D – Al Ain Amblers, Repton Royals, Dubai Exiles, Gems World Academy Dubai
Pool E – JESS A, Abu Dhabi Sharks, Abu Dhabi Harlequins 1, EC

Gulf Women
Pool A – Kuwait Scorpions, Black Ruggers, Dubai Sports City Eagles, Dubai Hurricanes 2
Pool B – Emirates Firebirds, Sharjah Wanderers, RAK Rides, Beirut Aconites
Pool C – Dubai Hurricanes, Emirates Firebirds 2, Abu Dhabi Saracens, Transforma Panthers
Pool D – AUC Wolves, Dubai Hawks, Abu Dhabi Harlequins, Al Ain Amblers

Gulf U19 Girls
Pool A – Dubai Exiles, BSAK, DESC, Al Maha
Pool B – Arabian Knights, Dubai Hurricanes, Al Ain Amblers, Abu Dhabi Harlequins

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%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3ETuhoon%0D%3Cbr%3E%3Cstrong%3EYear%20started%3A%20%3C%2Fstrong%3EJune%202021%0D%3Cbr%3E%3Cstrong%3ECo-founders%3A%20%3C%2Fstrong%3EFares%20Ghandour%2C%20Dr%20Naif%20Almutawa%2C%20Aymane%20Sennoussi%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3ERiyadh%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3Ehealth%20care%0D%3Cbr%3E%3Cstrong%3ESize%3A%20%3C%2Fstrong%3E15%20employees%2C%20%24250%2C000%20in%20revenue%0D%3Cbr%3EI%3Cstrong%3Envestment%20stage%3A%20s%3C%2Fstrong%3Eeed%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EWamda%20Capital%2C%20Nuwa%20Capital%2C%20angel%20investors%3C%2Fp%3E%0A
The specs

Engine 60kwh FWD

Battery Rimac 120kwh Lithium Nickel Manganese Cobalt Oxide (LiNiMnCoO2) chemistry

Power 204hp Torque 360Nm

Price, base / as tested Dh174,500 

Baftas 2020 winners

BEST FILM

  • 1917 - Pippa Harris, Callum McDougall, Sam Mendes, Jayne-Ann Tenggren
  • THE IRISHMAN - Robert De Niro, Jane Rosenthal, Martin Scorsese, Emma Tillinger Koskoff
  • JOKER - Bradley Cooper, Todd Phillips, Emma Tillinger Koskoff
  • ONCE UPON A TIME… IN HOLLYWOOD - David Heyman, Shannon McIntosh, Quentin Tarantino
  • PARASITE - Bong Joon-ho, Kwak Sin-ae

DIRECTOR

  • 1917 - Sam Mendes
  • THE IRISHMAN - Martin Scorsese
  • JOKER - Todd Phillips
  • ONCE UPON A TIME… IN HOLLYWOOD - Quentin Tarantino
  • PARASITE - Bong Joon-ho

OUTSTANDING BRITISH FILM

  • 1917 - Sam Mendes, Pippa Harris, Callum McDougall, Jayne-Ann Tenggren, Krysty Wilson-Cairns
  • BAIT - Mark Jenkin, Kate Byers, Linn Waite
  • FOR SAMA - Waad al-Kateab, Edward Watts
  • ROCKETMAN - Dexter Fletcher, Adam Bohling, David Furnish, David Reid, Matthew Vaughn, Lee Hall
  • SORRY WE MISSED YOU  - Ken Loach, Rebecca O’Brien, Paul Laverty
  • THE TWO POPES - Fernando Meirelles, Jonathan Eirich, Dan Lin, Tracey Seaward, Anthony McCarten

FILM NOT IN THE ENGLISH LANGUAGE

  • THE FAREWELL - Lulu Wang, Daniele Melia
  • FOR SAMA - Waad al-Kateab, Edward Watts
  • PAIN AND GLORY - Pedro Almodóvar, Agustín Almodóvar
  • PARASITE - Bong Joon-ho
  • PORTRAIT OF A LADY ON FIRE - Céline Sciamma, Bénédicte Couvreur

LEADING ACTRESS

  • JESSIE BUCKLEY - Wild Rose
  • SCARLETT JOHANSSON - Marriage Story
  • SAOIRSE RONAN - Little Women
  • CHARLIZE THERON - Bombshell
  • RENÉE ZELLWEGER - Judy

LEADING ACTOR

  • LEONARDO DICAPRIO - Once Upon a Time… In Hollywood
  • ADAM DRIVER - Marriage Story
  • TARON EGERTON - Rocketman
  • JOAQUIN PHOENIX - Joker
  • JONATHAN PRYCE - The Two Popes

SUPPORTING ACTOR

  • TOM HANKS - A Beautiful Day in the Neighborhood
  • ANTHONY HOPKINS - The Two Popes
  • AL PACINO - The Irishman
  • JOE PESCI - The Irishman
  • BRAD PITT - Once Upon a Time… in Hollywood

SUPPORTING ACTRESS

  • LAURA DERN - Marriage Story
  • SCARLETT JOHANSSON - Jojo Rabbit
  • FLORENCE PUGH - Little Women
  • MARGOT ROBBIE - Bombshell
  • MARGOT ROBBIE - Once Upon a Time… in Hollywood

ADAPTED SCREENPLAY

  • THE IRISHMAN - Steven Zaillian
  • JOJO RABBIT - Taika Waititi
  • JOKER - Todd Phillips, Scott Silver
  • LITTLE WOMEN - Greta Gerwig
  • THE TWO POPES - Anthony McCarten

ORIGINAL SCREENPLAY

  • BOOKSMART - Susanna Fogel, Emily Halpern, Sarah Haskins, Katie Silberman
  • KNIVES OUT - Rian Johnson
  • MARRIAGE STORY - Noah Baumbach
  • ONCE UPON A TIME… IN HOLLYWOOD - Quentin Tarantino
  • PARASITE - Han Jin Won, Bong Joon ho

DOCUMENTARY

  • AMERICAN FACTORY - Steven Bognar, Julia Reichert
  • APOLLO 11 - Todd Douglas Miller
  • DIEGO MARADONA - Asif Kapadia
  • FOR SAMA - Waad al-Kateab, Edward Watts
  • THE GREAT HACK - Karim Amer, Jehane Noujaime

OUTSTANDING DEBUT BY A BRITISH WRITER, DIRECTOR OR PRODUCER

  • BAIT - Mark Jenkin (Writer/Director), Kate Byers, Linn Waite (Producers)
  • FOR SAMA - Waad al-Kateab (Director/Producer), Edward Watts (Director)
  • MAIDEN - Alex Holmes (Director)
  • ONLY YOU - Harry Wootliff (Writer/Director)
  • RETABLO - Álvaro Delgado-Aparicio (Writer/Director)

ANIMATED FILM

  • FROZEN 2 - Chris Buck, Jennifer Lee, Peter Del Vecho
  • KLAUS - Sergio Pablos, Jinko Gotoh
  • A SHAUN THE SHEEP MOVIE: FARMAGEDDON - Will Becher, Richard Phelan, Paul Kewley
  • TOY STORY 4 - Josh Cooley, Mark Nielsen

CASTING

  • JOKER - Shayna Markowitz
  • MARRIAGE STORY - Douglas Aibel, Francine Maisler
  • ONCE UPON A TIME… IN HOLLYWOOD - Victoria Thomas
  • THE PERSONAL HISTORY OF DAVID COPPERFIELD - Sarah Crowe
  • THE TWO POPES - Nina Gold

EE RISING STAR AWARD (voted for by the public)

  • AWKWAFINA
  • JACK LOWDEN
  • KAITLYN DEVER
  • KELVIN HARRISON JR.
  • MICHEAL WARD

CINEMATOGRAPHY

  • 1917 - Roger Deakins
  • THE IRISHMAN - Rodrigo Prieto
  • JOKER - Lawrence Sher
  • LE MANS ’66 - Phedon Papamichael
  • THE LIGHTHOUSE - Jarin Blaschke

EDITING

  • THE IRISHMAN - Thelma Schoonmaker
  • JOJO RABBIT - Tom Eagles
  • JOKER - Jeff Groth
  • LE MANS ’66 - Andrew Buckland, Michael McCusker
  • ONCE UPON A TIME… IN HOLLYWOOD - Fred Raskin

COSTUME DESIGN

  • THE IRISHMAN - Christopher Peterson, Sandy Powell
  • JOJO RABBIT - Mayes C. Rubeo
  • JUDY - Jany Temime
  • LITTLE WOMEN - Jacqueline Durran
  • ONCE UPON A TIME… IN HOLLYWOOD - Arianne Phillips

PRODUCTION DESIGN

  • 1917 - Dennis Gassner, Lee Sandales
  • THE IRISHMAN - Bob Shaw, Regina Graves
  • JOJO RABBIT - Ra Vincent, Nora Sopková
  • JOKER - Mark Friedberg, Kris Moran
  • ONCE UPON A TIME… IN HOLLYWOOD - Barbara Ling, Nancy Haigh

SOUND

  • 1917 - Scott Millan, Oliver Tarney, Rachael Tate, Mark Taylor, Stuart Wilson
  • JOKER - Tod Maitland, Alan Robert Murray, Tom Ozanich, Dean Zupancic
  • LE MANS ’66 - David Giammarco, Paul Massey, Steven A. Morrow, Donald Sylvester
  • ROCKETMAN - Matthew Collinge, John Hayes, Mike Prestwood Smith, Danny Sheehan
  • STAR WARS: THE RISE OF SKYWALKER - David Acord, Andy Nelson, Christopher Scarabosio, Stuart Wilson, Matthew Wood

ORIGINAL SCORE

  • 1917 - Thomas Newman
  • JOJO RABBIT - Michael Giacchino
  • JOKER - Hildur Guđnadóttir
  • LITTLE WOMEN - Alexandre Desplat
  • STAR WARS: THE RISE OF SKYWALKER - John Williams

SPECIAL VISUAL EFFECTS

  • 1917 - Greg Butler, Guillaume Rocheron, Dominic Tuohy
  • AVENGERS: ENDGAME - Dan Deleeuw, Dan Sudick
  • THE IRISHMAN - Leandro Estebecorena, Stephane Grabli, Pablo Helman
  • THE LION KING - Andrew R. Jones, Robert Legato, Elliot Newman, Adam Valdez
  • STAR WARS: THE RISE OF SKYWALKER - Roger Guyett, Paul Kavanagh, Neal Scanlan, Dominic Tuohy

MAKE UP & HAIR

  • 1917 - Naomi Donne
  • BOMBSHELL - Vivian Baker, Kazu Hiro, Anne Morgan
  • JOKER - Kay Georgiou, Nicki Ledermann
  • JUDY - Jeremy Woodhead
  • ROCKETMAN - Lizzie Yianni Georgiou

BRITISH SHORT FILM

  • AZAAR - Myriam Raja, Nathanael Baring
  • GOLDFISH - Hector Dockrill, Harri Kamalanathan, Benedict Turnbull, Laura Dockrill
  • KAMALI - Sasha Rainbow, Rosalind Croad
  • LEARNING TO SKATEBOARD IN A WARZONE (IF YOU’RE A GIRL) - Carol Dysinger, Elena Andreicheva
  • THE TRAP - Lena Headey, Anthony Fitzgerald

BRITISH SHORT ANIMATION

  • GRANDAD WAS A ROMANTIC - Maryam Mohajer
  • IN HER BOOTS - Kathrin Steinbacher
  • THE MAGIC BOAT  - Naaman Azh
F1 The Movie

Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem

Director: Joseph Kosinski

Rating: 4/5

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

Sustainable Development Goals

1. End poverty in all its forms everywhere

2. End hunger, achieve food security and improved nutrition and promote sustainable agriculture

3. Ensure healthy lives and promote well-being for all at all ages

4. Ensure inclusive and equitable quality education and promote lifelong learning opportunities for all

5. Achieve gender equality and empower all women and girls

6. Ensure availability and sustainable management of water and sanitation for all

7. Ensure access to affordable, reliable, sustainable and modern energy for all

8. Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all

9. Build resilient infrastructure, promote inclusive and sustainable industrialisation and foster innovation

10. Reduce inequality  within and among countries

11. Make cities and human settlements inclusive, safe, resilient and sustainable

12. Ensure sustainable consumption and production patterns

13. Take urgent action to combat climate change and its effects

14. Conserve and sustainably use the oceans, seas and marine resources for sustainable development

15. Protect, restore and promote sustainable use of terrestrial ecosystems, sustainably manage forests, combat desertification, and halt and reverse land degradation and halt biodiversity loss

16. Promote peaceful and inclusive societies for sustainable development, provide access to justice for all and build effective, accountable and inclusive institutions at all levels

17. Strengthen the means of implementation and revitalise the global partnership for sustainable development

Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

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%3Cp%3E%3Cstrong%3EDirectors%3A%3C%2Fstrong%3E%20Aaron%20Horvath%20and%20Michael%20Jelenic%0D%3Cbr%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Chris%20Pratt%2C%20Anya%20Taylor-Joy%2C%20Charlie%20Day%2C%20Jack%20Black%2C%20Seth%20Rogen%20and%20Keegan-Michael%20Key%0D%3Cbr%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%201%2F5%3C%2Fp%3E%0A
The National Archives, Abu Dhabi

Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.

Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en

The five pillars of Islam

1. Fasting

2. Prayer

3. Hajj

4. Shahada

5. Zakat 

Updated: December 28, 2022, 4:52 AM