Follow the latest news on the 2024 Paris Olympics
Algeria's Djamel Sedjati remained on track for Olympic glory as he sealed his spot in Saturday’s men’s 800m final.
Sedjati, one of the big favourites for gold in Paris, won his semi-final heat in a time of 1:45.08 to ease into the medal round.
The Algerian comfortably finished ahead of Thepiso Masalela of Botswana, who also qualified for the final.
He is likely to face the biggest challenge from Kenya's Emmanuel Wanyonyi, who looked in great shape on Friday as he won his semi-final in commanding fashion.
Wanyonyi, silver medallist at last year’s world championship, was pushed at the end by American Bryce Hoppel but ensured he crossed the line first in 1:43.32. He will be aiming to continue Kenya's dominance in the event.
With none of the Tokyo medallists in the field and the eight finalists all coming from different countries, it looks to be one of the most unpredictable races of the Games.
Sedjati earlier said he has two aims in Paris - a medal for Algeria and a shot at the Kenyan David Rudisha's 800m world record.
Algeria's failure to medal at the Covid-hit Tokyo Games was a major disappointment as it came after Taoufik Makhloufi had won 1500m gold in London in 2012 and double 800-1500m silvers in Rio four years later.
Sedjati looks primed to go for one of the toughest world records on Saturday (9.05pm UAE time).
Best photos from the Olympics
Rudisha set the mark of 1min 40.91sec while winning gold in the London Olympics in 2012.
This year has been a real breakthrough season for 25-year-old Sedjati, born in the northern Algerian city of Tiaret.
He broke Makhloufi's national record at the Paris Diamond League meeting this month, clocking 1:41.56 to become the third fastest athlete in the history of the race after Rudisha and Denmark's Wilson Kipketer (1:41.11).
Sedjati improved his time to 1:41.46, a Diamond League record and new world leading time, just five days later in Monaco.
"I am now thinking of the world record, I hope to run it at the Olympic Games," said the Algerian, who claimed silver at the 2022 Eugene world championships.
"I will focus on that and put in the necessary work so that I can achieve my goal.
"It's the fourth time I've run a world lead and the second time an Algerian record, I have worked really hard for that."
"I will keep the preparation the same. My mindset is that the hard work I have put in will pay off."
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