In Dubai there has been a surge in sales of luxury used cars since the beginning of the Covid-19 pandemic.
An increase in stock after many residents returned to their home countries in the early months of the pandemic is one of the main reasons for the increased interest in used vehicles, a leading expert said.
A lack of new models being produced, the result of a global shortage of microchips, was another factor, said Nick Dorney, showroom manager at Alba Cars in Dubai.
“We have seen an increase in people buying used cars since the pandemic began,” Mr Dorney said.
“People who wouldn’t have bought a luxury car before have much more to choose from now because so many [people] left the country last year, which created a surplus of stock.
“There are also those who would only have bought brand new models who are now looking at used ones to save a little bit of money.”
1. Range Rover Evoque
The Evoque tops the list of the most popular luxury cars in Dubai due, in no small part, to its stylish looks and modern vibe, which is also a popular feature on older models.
“It also has surprisingly low maintenance costs,” Mr Dorney said.
Average price: Dh99,000
2. Porsche Cayenne
The Porsche name alone makes this a popular choice, according to Mr Dorney.
“The highly popular V8 engine makes a recognisable grumble that’s quite simply music to car enthusiasts' ears,” he said.
“With its ultra-stylish cockpit and high practicality, it’s a tough one to beat.”
Average price: Dh119,000
3. Jeep Wrangler
Wranglers do not stay in showrooms for long, Mr Dorney said.
“It’s obvious to see why it’s so popular. You just have to take a look at the desert around us to see why,” he said.
“Nothing else comes close when it comes to off-roading and dune-bashing; it really is a one-horse race.”
Average price: Dh79,000
4. Audi Q5
Mr Dorney said the Audi SUV is a top choice for families because of its reputation for high safety standards.
“The Q5 is quite possibly the best all-round family car there is,” he said.
“Like all German brands, the standard of safety is super high, plenty of space for passengers and luggage. It ticks most boxes there are to tick.”
Average price: Dh74,000
5. Audi A3
“The A3 sells so well because it caters to pretty much everyone, from those looking for a first or second car, as well as families or those looking for luxury,” Mr Dorney said.
“It has a perfect size and its smooth drive makes it hard to find any reason not to buy one.”
Average price: Dh49,000
Scoreline
Arsenal 0 Manchester City 3
- Agüero 18'
- Kompany 58'
- Silva 65'
Tour de France
When: July 7-29
UAE Team Emirates:
Dan Martin, Alexander Kristoff, Darwin Atapuma, Marco Marcato, Kristijan Durasek, Oliviero Troia, Roberto Ferrari and Rory Sutherland
Punchy appearance
Roars of support buoyed Mr Johnson in an extremely confident and combative appearance
MATCH INFO
Uefa Champions League semi-final, first leg
Bayern Munich v Real Madrid
When: April 25, 10.45pm kick-off (UAE)
Where: Allianz Arena, Munich
Live: BeIN Sports HD
Second leg: May 1, Santiago Bernabeu, Madrid
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
EU Russia
The EU imports 90 per cent of the natural gas used to generate electricity, heat homes and supply industry, with Russia supplying almost 40 per cent of EU gas and a quarter of its oil.
