Iker Casillas celebrates birthday but Real Madrid future remains unclear with David De Gea on the radar

MADRID // Real Madrid goalkeeper and captain Iker Casillas turned 34 with uncertainty still clouding his future with the European champions and Real reportedly lining up David De Gea as his replacement.

Casillas has been blamed by some fans for Madrid’s woes this season, when they failed to win any of the three major trophies, while arch rivals Barcelona are on the verge of a treble of Uefa Champions League and Spanish league and Cup titles.

Comment: David De Gea aside, Manchester United's failings show Louis van Gaal needs to spend wisely

The Spain international has suggested he wants to see out his contract, which runs until the end of the 2016/17 season, but he has been visibly irritated by his treatment at the Bernabeu in recent weeks.

While some sections of fans clearly back him, others have roundly whistled him, along with coach Carlo Ancelotti and Wales winger Gareth Bale. Madrid-based sports dailies Marca and AS both reported that Madrid had let Casillas know the club wants him to stay on next season.

That did not mean that Madrid would abandon their efforts to lure the 24-year-old De Gea, second choice for Spain behind Casillas, from Manchester United in the close season, they said.

If De Gea does move back to Spain, Costa Rica keeper Keylor Navas, who joined Madrid after shining at last year’s World Cup finals in Brazil, would look to move on, reports said.

Casillas made his first-team debut for Madrid in September 1999 and has made 724 appearances in 16 seasons, winning a host of trophies including three Champions League crowns and five Primera Liga titles.

FOLLOW US ON TWITTER @NatSportUAE

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

The%20Emperor%20and%20the%20Elephant

%3Cp%3E%3Cstrong%3EAuthor%3A%20%3C%2Fstrong%3ESam%20Ottewill-Soulsby%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPublisher%3A%20%3C%2Fstrong%3EPrinceton%20University%20Press%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPages%3A%20%3C%2Fstrong%3E392%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EAvailable%3A%20%3C%2Fstrong%3EJuly%2011%3C%2Fp%3E%0A

Sting & Shaggy

44/876

(Interscope)

Iker Casillas celebrates birthday but Real Madrid future remains unclear with David De Gea on the radar

Real Madrid goalkeeper and captain Iker Casillas turned 34 yesterday with uncertainty still clouding his future with the European champions and Real reportedly lining up David De Gea as his replacement.

Ten tax points to be aware of in 2026

The%20Emperor%20and%20the%20Elephant