BARCELONA // Real Madrid's bid for its first Spanish league title in four seasons received another setback Sunday after the leaders slipped to a 0-0 home draw with Valencia.
Madrid's third draw in five matches had cut its commanding 10-point lead over defending champions Barcelona to four with seven rounds to play.
Barcelona piled the pressure on with a 4-1 win at Zaragoza on Saturday, and Madrid failed to respond as Valencia came close to scoring with two shots that hit the goal-frame in a high-tempo thrilling match that shouldn't have ended scoreless.
Valencia goalkeeper Vicente Guaita ensured the good result for the visitors with a series of superb saves late on, including denying Angel Di Maria deep into stoppage time.
"We knew it was important to hold off their counterattack and get out on the break ourselves," said Guaita. "The entire team made an excellent effort."
Madrid's stumble places further importance on its visit to Barcelona's Camp Nou in three rounds' time.
The struggling pacesetters visit crosstown rival Atletico Madrid on Wednesday and then welcome last-place Sporting Gijon before the sixth el clasico match of the season that could go a long way to deciding the title.
"Without a doubt, we expected to win the three points because each point is fundamental," Madrid midfielder Xabi Alonso said. "We still have the advantage, not what we had before, but we have to go forward."
The result also stopped Madrid one game short of setting a club record of scoring in 42 straight games.
Even though Valencia entered the march 30 points behind Madrid in the table, the team lived up to its third-place standing by putting up a spirited fight despite having top-scorer Roberto Soldado limited to the final 15 minutes due to physical problems.
Cristiano Ronaldo had the first scoring chance eight minutes in when he let loose a blistering long-range blast that rattled the woodwork.
Moments later, Valencia forward Sofiane Feghouli almost connected with a shot from outside the area as the visitors also showed some bite early on.
Ronaldo enjoyed another opportunity in the 19th thanks to Karim Benzema's back-heeled pass, only to see his low shot saved by Guaita.
But Valencia continued to attack, with defender Ricardo Costa heading against the post with goalkeeper Iker Casillas flat on the ground after having parried Tino Costa' long-range strike in the 25th.
Madrid coach Jose Mourinho sent on Di Maria for striker Higuain Gonzalo at halftime, and the Argentina winger wasted no time in sliding a ball through for Ronaldo to force a one-handed save from Guaita.
Valencia hung tough with the European powerhouse, and Tino Costa again made the home crowd gasp when he blasted against the top corner of the goal frame in the 55th.
As Madrid's nerves began to show, Valencia looked to take advantage of its opponents runs forward with speedy reinforcements Pablo Hernandez and Jeremy Mathieu, who missed with a long-range shot just after Ronaldo tripped on the ball with only the 'keeper to beat.
Madrid charged forward with Kaka on as a substitute, and Guaita had to stop Di Maria's shot and make an excellent pair of reflex saves to repel back-to-back attempts by Benzema from close range in the 78th.
Di Maria had another chance to grab the win just before the whistle, but Guaita again was there to smother his low strike.
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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
