Saudi Arabia on Wednesday launched its bid to host the 2034 Fifa World Cup, just as the world governing body announced Morocco is set to co-host the 2030 tournament.
Saudi Arabia's bid marked a significant day for the Middle East and North Africa region after Fifa announced Morocco had been named as one of the three main hosts of the 2030 edition, alongside Spain and Portugal, with the first few matches of the finals to be held in South America as part of the centenary celebrations. The decision needs to be ratified by the Fifa Congress next year.
The Saudi Arabian Football Federation said it "intends to deliver a world-class tournament and will draw inspiration from Saudi Arabia's ongoing social and economic transformation and the country's deep-rooted passion for football".
Crown Prince Mohammed bin Salman said: "Saudi Arabia’s desire to bid for the 2034 FIFA World Cup is a reflection of the country’s progress in all sectors. The kingdom has quickly emerged as a leading hub and an international destination for hosting major events thanks to its rich cultural heritage, economic strength and the ambition of its people."
Prince Abdulaziz bin Turki Al Faisal, the Saudi Sports Minister, said that hosting the tournament would be a dream come true.
“Hosting a Fifa World Cup in 2034 would help us achieve our dream of becoming a leading nation in world sport and would mark a significant milestone in the country’s transformation," he said.
"As an emerging and welcoming home for all sports, we believe that hosting a Fifa World Cup is a natural next step in our football journey."
On Wednesday, it was announced by Fifa that only bids from the Asian Football Confederation and the Oceania Football Confederation would be considered for the 2034 finals.
That has opened the door for Saudi Arabia to clinch the hosting rights. Although, Australia could yet prove a serious rival for the tournament.
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Lionel Messi holds up the trophy after Argentina defeated France on penalties in the World Cup final at Lusail Stadium in Qatar, on Sunday, December 18, 2022. AP -

Argentina's Lionel Messi celebrates with teammates after beating France. AP -

France's Kylian Mbappe walks past the trophy at the end of the match. AP -

Argentina's Lionel Messi holds up the Golden Ball award for best player of the tournament. AP -

Argentina celebrate victory at Lusail Stadium. Getty -

Lionel Messi of Argentina kisses the trophy after beating France 4-2 on penalties. EPA -

Argentina celebrate victory. AP -

Argentina captain Lionel Messi celebrates with World Cup trophy. PA -

Kylian Mbappe of France with his Golden Boot award for finishing as the tournament's top scorer. EPA -

Argentina players celebrate after winning the World Cup final penalty shoot-out against France. Getty -

Argentina players celebrate victory. Getty -

Argentina's Lautaro Martinez and Lionel Messi celebrate after winning the World Cup. Reuters -

Argentina's Leandro Paredes celebrates scoring the winning penalty against France. Getty -

Argentina's Leandro Paredes celebrates scoring during the penalty shoot-out against France. Reuters -

Argentina goalkeeper Emiliano Martinez saves from Kingsley Coman of France in the penalty shoot-out. Getty -

Lionel Messi scores for Argentina in the penalty shoot-out. Getty -

Emiliano Martinez of Argentina celebrates after saving Kingsley Coman's penalty. Getty -

Kylian Mbappe completes his hat-trick from the spot to make it 3-3. Getty -

Kylian Mbappe celebrates after scoring his, and France's, third goal. Getty -

Lionel Messi scores Argentina's third goal. Getty -

Lionel Messi celebrates scoring Argentina's third goal. Getty -

Lionel Messi scores Argentina's third goal. Reuters -

Lionel Messi celebrates scoring Argentina's third goal. PA -

Argentina's Lionel Messi goes for a high challenge on Eduardo Camavinga of France. Getty -

Lionel Messi celebrates with teammates after scoring Argentina's third. AFP -

Argentina goalkeeper Emiliano Martinez is beaten by the penalty of France's Kylian Mbappe. Getty -

Kylian Mbappe celebrates scoring France's second goal. PA -

Argentina's Nicolas Otamendi fouls Randal Kolo Muani of France giving away a penalty. Getty -

Kylian Mbappe volleys home France's second goal. Getty -

Argentina attacker Angel Di Maria skips past the challenge of France's Antoine Griezmann. PA -

Kylian Mbappe celebrates after scoring the first France goal. Getty -

Kylian Mbappe scores France's first goal from the penalty spot. Reuters -

Angel Di Maria celebrates scoring Argentina's second goal. Reuters -

Argentina's Lionel Messi sends France goalkeeper Hugo Lloris the wrong way from the spot. Getty -

France's Kylian Mbappe with Lionel Messi of Argentina. Getty -

Angel Di Maria scores for Argentina in the first-half. Getty -

France's Antoine Griezmann, Olivier Giroud and Adrien Rabiot after Argentina made it 2-0. PA -

Argentina's Angel Di Maria celebrates after scoring with France goalkeeper Hugo Lloris on his knees. Reuters -

Argentina's Nicolas Tagliafico and Randal Kolo Muani fight for the ball. AP -

Angel Di Maria celebrates after scoring for Argentina. Getty -

Lionel Messi is mobbed by Argentina teammates after scoring. Getty -

France's Jules Kounde heads the ball. AP -

Lionel Messi celebrates after scoring for Argentina. Getty -

Argentina attacker Angel Di Maria earns a penalty after going down under the challenge of France's Ousmane Dembele. Getty -

France's Olivier Giroud shakes hands with manager Didier Deschamps after being substituted in the first half. PA -

Lionel Messi scores from the spot for Argentina. PA -

Lionel Messi celebrates after scoring a first-half penalty for Argentina. Getty -

France goalkeeper Hugo Lloris saves from Argentina's Julian Alvarez. AP -

France manager Didier Deschamps, left, with his Argentina counterpart Lionel Scaloni before the game. AP -

Argentina players before the match. AP -

France players before the match. Getty
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If a business does not apply for the refund on time, they lose their credit.
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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.
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Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
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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.
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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.
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