• Also: Dominant Fehaid Al Deehani, Egypt and Tunisia women's triumphs – Best of Day 5
The National’s sports team is helping you keep up to date with what is happening in Rio while most of us in the UAE were sleeping. Here is today’s Daily 5.
1 Simone to watch
It was a remarkable, unbelievable-sounding statistic bandied about before the Olympics: American gymnast Simone Biles arrived to Rio a three-time individual all-around world champion and owner of 10 world titles – and no Olympic medals.
It was, however, of course just an eye-catching byproduct of the vagaries of timing and the sport. When the Olympics were last held in London, Biles was just 15, slightly ahead of her peak. When they come back around in Tokyo, she’ll be 23, likely slightly past her prime.
But if Rio is indeed her one Olympic shot, she is squeezing every last iota of spectacular out of it.
• In pictures: Simone Biles owns gymnastics all-around at Rio Olympics
It would be a gross understatement to say Biles dominated the competition. She dominated it, obliterated it, lorded over it. She was excellent above and beyond where gymnastics has ever gone before, at least by margin of victory.
She won by 2.100 points, which if you’re unfamiliar with gymnastics scoring doesn’t sound so impressive, consider: It is greater than the last nine gold-winning margins, combined. It is comfortably the widest individual all-around victory ever at an Olympics.
The Texan will go for three more golds, and a record-total five, in the apparatus competitions. She was comfortably the best in each of the vault, balance beam and floor on Thursday night.
If it remains to be seen whether or not she will cement her status as the greatest ever, her all-around transcendence at the very least put it in play.
Read what she had to say following victory
2 Fiji in paradise
The tiny Pacific island nation of Fiji came to Rio having never won an Olympic medal. And, yet, they were favourites for one.
The consecutive winners of the last two World Sevens Series were, with the reintroduction of rugby in its seven-a-side format to the Olympics, suddenly a powerhouse in an event.
They blitzed Great Britain 43-7 in the gold medal match, affirming their greatness as a sevens outfit.
“We wanted to show people the way we play, the Fijian way,” said coach Ben Ryan.
“We were lucky enough to pull it off in such spectacular fashion.”
Read about a nation in ecstasy after rugby gold
3 Other highlights from Day 6
• Another Olympics, another set of medals for Michael Phelps to bring home. The American swimmer added his fourth gold of the Rio Games with a victory over compatriot and rival Ryan Lochte in the 200m individual medley. Another American, Simone Manuel, became the first African-American woman to win swimming gold in the women's 100m freestyle showpiece and yet another, Ryan Murphy, took gold in the 200m backstroke. It's been a good Olympics for American swimmers. Read the full roundup.
• Great Britain’s Katherine Grainger became a medallist at five different Olympic Games, with silver in the women’s double sculls. Her country’s most decorated female athlete, the 40-year-old rower added to a medal haul that includes three more silvers and gold from the London 2012 Games.
• Sexual abuse survivor Kayla Harrison successfully defended her women’s judo title in the 78kg category. Chinese table tennis whiz Ma Long continued his country’s domination of the sport, smashing rival countryman and 2012 gold medallist Zhang Jike four sets to none. And Germany, who started the day with no gold medals, now suddenly has three, after a double in the men’s and women’s quad sculls in rowing and Barbara Englender’s victory in the women’s 50m rifle three positions event.
• The United States leads in the medal count with 38 (16 gold), followed by China with 30 (11 gold) and Japan with 22 (seven gold). Australia (15 overall), South Korea (11 overall) and Hungary (seven overall) each boast five golds. Russia, with 19 medals total and Great Britain, with 16, have also found great success. We're keeping track of all the gold medal winners.
4 Tweet of the day
Leonidas’ record had stood strong for over 2,000 years. But records were, after all, made to be broken. Eventually.
5 Video of the day
Rafael Nadal looks in peak form as he seeks a second Olympic gold.
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
The five pillars of Islam
1. Fasting
2. Prayer
3. Hajj
4. Shahada
5. Zakat
Walls
Louis Tomlinson
3 out of 5 stars
(Syco Music/Arista Records)
In numbers
1,000 tonnes of waste collected daily:
- 800 tonnes converted into alternative fuel
- 150 tonnes to landfill
- 50 tonnes sold as scrap metal
800 tonnes of RDF replaces 500 tonnes of coal
Two conveyor lines treat more than 350,000 tonnes of waste per year
25 staff on site
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The biog
Name: Dhabia Khalifa AlQubaisi
Age: 23
How she spends spare time: Playing with cats at the clinic and feeding them
Inspiration: My father. He’s a hard working man who has been through a lot to provide us with everything we need
Favourite book: Attitude, emotions and the psychology of cats by Dr Nicholes Dodman
Favourit film: 101 Dalmatians - it remind me of my childhood and began my love of dogs
Word of advice: By being patient, good things will come and by staying positive you’ll have the will to continue to love what you're doing
GIANT REVIEW
Starring: Amir El-Masry, Pierce Brosnan
Director: Athale
Rating: 4/5
'Cheb%20Khaled'
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FIXTURES
December 28
Stan Wawrinka v Pablo Carreno Busta, 5pm
Milos Raonic v Dominic Thiem, no earlier then 7pm
December 29 - semi-finals
Rafael Nadal v Stan Wawrinka / Pablo Carreno Busta, 5pm
Novak Djokovic v Milos Raonic / Dominic Thiem, no earlier then 7pm
December 30
3rd/4th place play-off, 5pm
Final, 7pm
more from Janine di Giovanni
Company profile
Date started: January, 2014
Founders: Mike Dawson, Varuna Singh, and Benita Rowe
Based: Dubai
Sector: Education technology
Size: Five employees
Investment: $100,000 from the ExpoLive Innovation Grant programme in 2018 and an initial $30,000 pre-seed investment from the Turn8 Accelerator in 2014. Most of the projects are government funded.
Partners/incubators: Turn8 Accelerator; In5 Innovation Centre; Expo Live Innovation Impact Grant Programme; Dubai Future Accelerators; FHI 360; VSO and Consult and Coach for a Cause (C3)
