• Morocco's players, including Hakim Ziyech, right, react after losing their Paris Olympics semi-final against Spain 2-1 at the Marseille Stadium on August 5, 2024. Reuters
    Morocco's players, including Hakim Ziyech, right, react after losing their Paris Olympics semi-final against Spain 2-1 at the Marseille Stadium on August 5, 2024. Reuters
  • Juanlu Sanchez, centre, of Spain celebrates after scoring their winner against Morocco. EPA
    Juanlu Sanchez, centre, of Spain celebrates after scoring their winner against Morocco. EPA
  • Morocco players after losing the match. AP
    Morocco players after losing the match. AP
  • Juanlu Sanchez of Spain celebrates their victory. Getty Images
    Juanlu Sanchez of Spain celebrates their victory. Getty Images
  • Spain players celebrate after beating Morocco in Marseille. AP
    Spain players celebrate after beating Morocco in Marseille. AP
  • Spain's Fermin Lopez celebrates after scoring their equaliser. AP
    Spain's Fermin Lopez celebrates after scoring their equaliser. AP
  • Morocco's Soufiane Rahimi celebrates scoring his side's opening goal from the penalty spot. AP
    Morocco's Soufiane Rahimi celebrates scoring his side's opening goal from the penalty spot. AP
  • Morocco's Soufiane Rahimi celebrates with teammates scoring their opener from a penalty. AP
    Morocco's Soufiane Rahimi celebrates with teammates scoring their opener from a penalty. AP
  • Morocco's Soufiane Rahimi celebrates with teammates scoring a penalty in the 34th minute. AP
    Morocco's Soufiane Rahimi celebrates with teammates scoring a penalty in the 34th minute. AP
  • Morocco's Soufiane Rahimi scores a penalty for their opening goal. AP
    Morocco's Soufiane Rahimi scores a penalty for their opening goal. AP
  • Morocco's Soufiane Rahimi scores from the penalty spot. AP
    Morocco's Soufiane Rahimi scores from the penalty spot. AP
  • Fermin Lopez of Spain shoots as Morocco's Oussama Targhalline and Amir Richardson try to close him down. Getty Images
    Fermin Lopez of Spain shoots as Morocco's Oussama Targhalline and Amir Richardson try to close him down. Getty Images
  • Achraf Hakimi of Morocco during the game. Getty Images
    Achraf Hakimi of Morocco during the game. Getty Images
  • Morocco's Achraf Hakimi fights for the ball with Spain's Adrian Bernabe. AP
    Morocco's Achraf Hakimi fights for the ball with Spain's Adrian Bernabe. AP
  • Spain's Aimar Oroz battles for the ball with Morocco's Ilias Akhomach. AP
    Spain's Aimar Oroz battles for the ball with Morocco's Ilias Akhomach. AP
  • Morroco fans light flares before the match. AP
    Morroco fans light flares before the match. AP
  • Morocco fans hold Palestinian flags. AP
    Morocco fans hold Palestinian flags. AP

Heartbreak for Morocco as Spain come from behind to reach Olympic final


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Follow the latest news on the 2024 Paris Olympics

Juanlu Sanchez came off the bench break Moroccan hearts and fire Spain to a record-equalling fifth Olympic men's football final on Monday.

Sanchez struck in the 85th minute at Stade de Marseille to seal a 2-1 win over the Atlas Lions and set up a final against either France or Egypt at the Paris Games.

Morocco led 1-0 at half time after the tournament's leading scorer, Al Ain forward Soufiane Rahimi, converted a penalty just after the half-hour mark. It was his sixth goal of the tournament.

Spain levelled the scores in the 65th minute when Fermin Lopez showed quick feet in the box and hit a left-foot shot low into the bottom corner. The Barcelona midfielder then provided the assist that set up Sanchez to sweep his winning goal into the far corner.

Spain, who won gold at the 1992 Barcelona Olympics, lost to Brazil in the final at the Tokyo Games three years ago.

They will get the chance to make up for that and add to what has already been a successful year after the men's senior team won the European Championship last month.

For Morocco, it was another painful exit at the semi-final stage of a major tournament.

Morocco became the first Arab and African nation to advance to the semi-finals of the World Cup in 2022 – eventually taking fourth place. They will have the chance to better that when they play in the bronze medal match.

Playing in front of a fervent crowd, largely of Morocco supporters, they threatened another upset at these Games after already beating Argentina in the group stage.

Rahimi had scored five goals going into the game and took his total to six when he coolly fired down the middle to beat Spain goalkeeper Arnau Tenas from the spot.

Spain came close to levelling in first-half stoppage time when Alex Baena’s 25-yard effort was deflected on to the outside of the post.

The equaliser came through Lopez' clinical finish – his fourth goal of the tournament – and his over-exuberant celebrations earned him a yellow card after kicking the corner flag and breaking it in two.

Morocco had come close to a potential late winner before Sanchez sealed the victory for Spain, who have taken silver on three occasions, with their only gold coming in '92.

Spain's women's team are also into the semi-finals and face Brazil on Tuesday, also in Marseille.

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Rating: 3/5

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Courtesy: Crystal Intelligence

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How to apply for a drone permit
  • Individuals must register on UAE Drone app or website using their UAE Pass
  • Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
  • Upload the training certificate from a centre accredited by the GCAA
  • Submit their request
What are the regulations?
  • Fly it within visual line of sight
  • Never over populated areas
  • Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
  • Users must avoid flying over restricted areas listed on the UAE Drone app
  • Only fly the drone during the day, and never at night
  • Should have a live feed of the drone flight
  • Drones must weigh 5 kg or less
SUZUME
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How much do leading UAE’s UK curriculum schools charge for Year 6?
  1. Nord Anglia International School (Dubai) – Dh85,032
  2. Kings School Al Barsha (Dubai) – Dh71,905
  3. Brighton College Abu Dhabi - Dh68,560
  4. Jumeirah English Speaking School (Dubai) – Dh59,728
  5. Gems Wellington International School – Dubai Branch – Dh58,488
  6. The British School Al Khubairat (Abu Dhabi) - Dh54,170
  7. Dubai English Speaking School – Dh51,269

*Annual tuition fees covering the 2024/2025 academic year

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

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Updated: August 05, 2024, 7:27 PM