Valencia will have to cope without Argentine international Nicolas Otamendi as they attempt to move a step closer to ending a three-year absence from the Uefa Champions League when they host Monaco on Wednesday night.
Otamendi is expected to complete a move to Manchester City in the coming days, the timing of which is far from ideal for coach Nuno Espirito Santo’s men as they prepare for two games against last season’s quarter-finalists that could make or break their season.
“We are concentrated on the game against Monaco. What happens with Otamendi is out of our control,” Valencia defender Antonio Barragan said on Monday. “We need to go through. It hasn’t crossed our minds we won’t go through the qualifier.”
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Otamendi’s departure is the latest episode of an unsettling summer for Valencia which was compounded by drawing the most difficult opponents they could have faced at this stage in Monaco.
Hampered by financial fair play regulations and several compulsory purchase agreements on loan deals agreed for players last summer, Valencia have not been able to significantly improve the squad that pipped Sevilla to a topfour finish on the final day of the Primera Liga season.
Australian international Matthew Ryan is expected to make his debut in goal for the Spaniards, with Diego Alves ruled out for the rest of the year due to cruciate ligament damage.
Santi Mina and Zakaria Bakkali could also make their competitive debuts, but both are likely to start on the bench.
Monaco’s preparations for the tie have also been far from smooth after suffering a double injury blow during a disappointing 0-0 draw at home to Lille on Friday.
Portuguese midfielder Joao Moutinho will miss both legs after being ruled out for four to six weeks with ankle ligament damage, whilst Layvin Kurzawa is a doubt as he, too, suffered an ankle knock.
In contrast to Valencia, Monaco are a much changed side from the one that surprisingly reached the last eight last season.
The likes of Yannick Ferreira-Carrasco and Geoffrey Kondogbia were sold on, with eight new players arriving.
Ivan Cavaleiro is one of the new recruits who has experience of facing Valencia from his time at Deportivo la Coruna last season and knows what a tough task the French side face to return to the group stages.
“Valencia are a great team. They had a great season last year and that is where they are in the position to play for a place in the Champions League,” he told the club’s website.
“They have great players and it will be a very tough tie for us.”
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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
Name: Peter Dicce
Title: Assistant dean of students and director of athletics
Favourite sport: soccer
Favourite team: Bayern Munich
Favourite player: Franz Beckenbauer
Favourite activity in Abu Dhabi: scuba diving in the Northern Emirates
Dubai Bling season three
Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed
Rating: 1/5
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