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Panthers sign top draft pick Clausen

Clausen, the 48th overall pick in the draft, is likely to begin the season as the third quarterback but is expected to challenge for the starting job.

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The Carolina Panthers signed Jimmy Clausen, the quarterback who was their top draft pick earlier this year, setting the stage for a potential battle for the starting role on a team looking to return to the play-offs. Terms of Clausen's deal were not announced but local media reported he signed a four-year contract worth as much as US$6.3 million (Dh23.1m). Clausen, the 48th overall pick in the draft, is likely to begin the season as the third quarterback but is expected to challenge for the starting job on a Panthers team that fell short of the play-offs last season after winning the division the year before.

Matt Moore looks set be the initial starter as the team released long-time starter Jake Delhomme, who has since signed for the Cleveland Browns, in the off-season while Clausen and Hunter Cantwell battle for the back-up spot in training camp. Elsewhere, the New York Jets have signed Mark Brunell, a free agent quarterback, to serve as a veteran back-up for last year's rookie starter Mark Sanchez. A three-time Pro Bowler with the Jacksonville Jaguars, the 39-year-old Brunell will be entering his 18th season in the NFL.

After three seasons with the Jaguars (2004/07), Brunell went on to play for Washington and won a Super Bowl last season with New Orleans. Last season he completed 15 of 30 passes for 102 yards for New Orleans as a back-up to Drew Brees. Originally drafted in the fifth round of the 1993 NFL draft by the Packers, he spent two years in Green Bay before being traded to Jacksonville in 1995. Rolando McClain became the highest pick in April's NFL Draft to sign a contract when the linebacker agreed to terms with the Oakland Raiders.

McClain was the eighth overall pick. The draft's top three picks - quarterback Sam Bradford (St Louis), defensive tackles Ndamukong Suh (Detroit) and Gerald McCoy (Tampa Bay) - are among the unsigned players as training camps start this week. * Reuters

Price, base / as tested From Dh173,775 (base model)
Engine 2.0-litre 4cyl turbo, AWD
Power 249hp at 5,500rpm
Torque 365Nm at 1,300-4,500rpm
Gearbox Nine-speed auto
Fuel economy, combined 7.9L/100km

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Co-founders of the company: Vilhelm Hedberg and Ravi Bhusari

Launch year: In 2016 ekar launched and signed an agreement with Etihad Airways in Abu Dhabi. In January 2017 ekar launched in Dubai in a partnership with the RTA.

Number of employees: Over 50

Financing stage: Series B currently being finalised

Investors: Series A - Audacia Capital 

Sector of operation: Transport

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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