Mohamed Al Hammadi leads UAE as flag-bearer at Tokyo Paralympics opening ceremony

Mohamed Al Hammadi, the multiple medal-winning Paralympian, was the UAE flag-bearer at the Tokyo Paralympics opening ceremony on Tuesday evening as the largest Games in history officially got under way.

Al Hammadi has won three Paralympic medals, including gold in the 800m wheelchair T34 at Rio 2016 having claimed silver and bronze at London 2012 in the 200m and 100m respectively. He is again expected to be a major contender in Tokyo.

The Emirati led a 12-member squad of UAE athletes plus staff at the opening ceremony inside Tokyo's Olympic Stadium, among them powerlifting great Mohammed Khalaf Khamis, who has won two Paralympic golds and one silver. There were no spectators inside the stadium, aside from a few officials, dignitaries, and sponsors.

A total of 4,403 athletes will compete in Tokyo, making it the largest Paralympic Games in history. Like the Olympics which preceded it, the Paralympics were delayed by 12 months because of the pandemic.

"I cannot believe we are finally here. Many doubted this day would happen. Many thought it impossible. But thanks to the efforts of many, the most transformative sport event on Earth is about to begin," ICC president Thomas Bach said.

"Over the next 10 years, WeThe15 will challenge how the world’s 15 per cent with disabilities are perceived and treated at a global level.

"With the support of 20 international organisations, civil society, the business sector, and the media we will put the world’s 1.2 billion persons with disabilities firmly at the heart of the inclusion agenda.

"The Paralympic Games are for sure a platform for change. But only every four years is not enough. It is up to each and every one of us to play out part, every day, to make for a more inclusive society in our countries, in our cities, in our communities."

Tokyo Paralympics open with spectacular ceremony

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Dan Martin, Alexander Kristoff, Darwin Atapuma, Marco Marcato, Kristijan Durasek, Oliviero Troia, Roberto Ferrari and Rory Sutherland

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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

Mohamed Al Hammadi leads UAE as flag-bearer at Tokyo Paralympics opening ceremony

Former gold medallist among a 12-member UAE team set to compete at the biggest Games in history

Tokyo Paralympics open with spectacular ceremony

Tour de France

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Whiile you're here

While you're here

World Test Championship table

While you're here

The biog

Ten tax points to be aware of in 2026