Neymar and PSG players don face masks as they arrive for training - in pictures

Paris Saint-German players including forwards Neymar, Kylian Mbappe and Angel di Maria all arrived for training donning face masks on Monday.

The Parisians return to training over three months after their last game, the 2-0 defeat of Borussia Dortmund in their Champions League last 16, second leg.

The landscape is a very different one now though.

The decision to bring an early end to the French season in late April, with more than a quarter of matches unplayed, due to the coronavirus crisis did not prevent PSG from being crowned Ligue 1 champions for the third year running, but it was hardly how they wanted things to end.

PSG still have the French Cup and League Cup finals to play as well as the Champions League final eight in Lisbon in August, of which they have already qualified for the quarter-finals.

Within PSG, it is estimated they stand to lose over €200 million (Dh821m), an enormous hit even for a club ranked the fifth-richest in the world in the latest Deloitte Football Money League.

The financial situation has also helped make up the mind of sporting director Leonardo over the futures of Thiago Silva and Edinson Cavani, two of the biggest stars at the club whose contracts expire this month and will not be retained.

Club captain Silva was among Thomas Tuchel's squad to attend training at the club's Camp des Loges base, though there were no sign of Cavani, who has reportedly turned down a short-term contract extension along with Belgium defender Thomas Meunier.

Argentina striker Mauro Icardi, whose loan move from Inter Milan was made permanent last month, joined his teammates for training.

To see a picture gallery of the PSG squad arriving for training, simply click on the arrows or swipe on your mobile device.

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Ranked: Deloitte Money League - in pictures

Soccer Football - Spanish Super Cup - Semi Final - FC Barcelona v Atletico Madrid - King Abdullah Sports City, Jeddah, Saudi Arabia - January 9, 2020 Barcelona's Lionel Messi celebrates scoring their first goal REUTERS/Sergio Perez

While you're here

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Harvey Jones: Is now the time for investors to return to China and emerging markets?

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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

Top investing tips for UAE residents in 2021

Build an emergency fund: Make sure you have enough cash to cover six months of expenses as a buffer against unexpected problems before you begin investing, advises Steve Cronin, the founder of DeadSimpleSaving.com.

Think long-term: When you invest, you need to have a long-term mindset, so don’t worry about momentary ups and downs in the stock market.

Invest worldwide: Diversify your investments globally, ideally by way of a global stock index fund.

Is your money tied up: Avoid anything where you cannot get your money back in full within a month at any time without any penalty.

Skip past the promises: “If an investment product is offering more than 10 per cent return per year, it is either extremely risky or a scam,” Mr Cronin says.

Choose plans with low fees: Make sure that any funds you buy do not charge more than 1 per cent in fees, Mr Cronin says. “If you invest by yourself, you can easily stay below this figure.” Managed funds and commissionable investments often come with higher fees.

Be sceptical about recommendations: If someone suggests an investment to you, ask if they stand to gain, advises Mr Cronin. “If they are receiving commission, they are unlikely to recommend an investment that’s best for you.”

Get financially independent: Mr Cronin advises UAE residents to pursue financial independence. Start with a Google search and improve your knowledge via expat investing websites or Facebook groups such as SimplyFI.