Second life for Cosmin Olaroiu’s Saudi Arabia in big win over North Korea

North Korea scored their first Asian Cup goal in 23 years on Wednesday but Saudi Arabia dashed hopes of an upset by storming back for a 4-1 win.

A second defeat in Group B left the North Koreans on the brink of elimination while breathing new life into a Saudi campaign that had been flagging after they were stunned 1-0 by China in their opening game at the weekend.

North Korea picked up a yellow card after just 15 seconds when Jong Il-gwan, being tracked by Newcastle United, was booked for a wild lunge.

They continued to tear into the Saudis as they went in search of a first Asian Cup victory since 1980 and the dream looked on after 11 minutes as Japan-based Ryang Yong-gi slammed home after big striker Pak Kwang-ryong’s fierce drive had been parried by goalkeeper Waleed Abdullah.

But Naif Hazazi equalised with a clinical finish against the run of play eight minutes before the interval. The Saudi forward’s joy was unbridled, having missed a penalty in their shock 1-0 loss to China last Saturday.

Strike partner Mohammed Al Sahlawi poked the Arabian Gulf side in front seven minutes after the break, before profiting from some horror defending to roll in a third moments later as North Korea began to unravel.

Saudi Arabia, who won the last of their three Asian Cup titles in 1996, continued to press, Al Sahlawi squandering a golden opportunity to complete his hat-trick by dragging wide when clean through on goal.

Nawaf Al Abid added a fourth after reacting sharply to having his penalty saved by North Korean goalkeeper Ri Myong-guk.

Pyongyang frequently lavishes cars and apartments on athletes who bring glory to the state, but the North Korean players at least had the consolation of being cheered to the rafters by a crowd of 12,000 in Melbourne for a plucky display.

SERIE A FIXTURES

All times UAE ( 4 GMT)

Saturday
Roma v Udinese (5pm)
SPAL v Napoli (8pm)
Juventus v Torino (10.45pm)

Sunday
Sampdoria v AC Milan (2.30pm)
Inter Milan v Genoa (5pm)
Crotone v Benevento (5pm)
Verona v Lazio (5pm)
Cagliari v Chievo (5pm)
Sassuolo v Bologna (8pm)
Fiorentina v Atalanta (10.45pm)

Key Points

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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

Second life for Cosmin Olaroiu’s Saudi Arabia in big win over North Korea

Saudi Arabi stormed back from going 1-0 down early on Wednesday against North Korea for a resuscitating 4-1 Group B victory in Melbourne.

SERIE A FIXTURES

Key Points

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Ten tax points to be aware of in 2026