Warning from Immelman

Trevor Immelman, who made his big breakthrough on the world stage by winning the US Masters at Augusta in April, believes Oakland Hills will be extremely penal this week to those who stray off the straight and narrow. The young South African forecast that the new US PGA champion will be rewarded on Sunday for accuracy rather than length over the next four days.

"The way this course has been set up it is going to be almost impossible to hit the green if you drive the ball into the rough," said Immelman. "The player who drives the ball the straightest will have a advantage here, even if that guy is low down in the rankings." Immelman stressed that he was not complaining about the difficulty of the course. "It is not supposed to be easy to win a major," he declared. "These tournaments are supposed to provide the toughest tests of golf both mentally and physically.

Like many of the top names preparing for the 90th PGA championship, Immelman was quizzed about whether his sport should have been included on the agenda for the Olympic Games which start in Beijing this weekend. Immelman, 29, disagreed with the view of Phil Mickelson, by responding: "I don't think golf should be an Olympic sport. Nor do I think basketball should be, or tennis. If I was running the Olympics I would go back to the way the Games were originally - track and field, gymnastics, swimming, weightlifting etc. That's what the Games were all about."

@Email:wjohnson@thenational.ae

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

Trevor Immelman believes Oakland Hills will severely penalise those who stray off the straight and narrow.

Ten tax points to be aware of in 2026