Granada made in Italy, but envied in Spain

Granada's back-to-back promotions, which saw them reach Spain's top flight for the first time since 1976, were achieved with a team consisting almost entirely of loan players from Udinese.

The Italian club were once provincial nonentities, but have been praised for their scouting network which identified emerging talents such as Alexis Sanchez.

Udinese finished fourth in Serie A last season, and qualified for the Champions League play-offs, but most of their contracted players were out on loan at other clubs, including Granada.

Under their deal with Granada, they agreed to take over their debts, and a parent/feeder relationship was established.

Granada benefited from players, such as the Spanish winger Dani Benitez and last season's top scorer, the Swiss striker Alex Geijo.

Udinese have an ownership stake in over 100 players and Granada give them a high-level environment to try those players. Granada fans are delighted, and have brushed aside accusations that their identity has been weakened.

The waft of envy is relevant among rival teams who don't think it is fair because their wage bill is subsidised by the Italian parent club, but whether they have enough talent to stay up is the question.

Granada lost their opening game at home to Andalusian neighbours, Real Betis, and look like they are set for a relegation battle. Another Andalusian derby beckons on Monday when they travel to monied Malaga.

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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

Granada made in Italy, but envied in Spain

Udinese have a stake in over 100 players, and Granada provide a high-level environment to try those. The fans are not complaining from the parent-feeder relationship.

Know before you go

RESULTS

Ten tax points to be aware of in 2026