The roads around Downtown Dubai are now closed in anticipation of tonight's New Year’s Eve celebrations.
Al Asayel Street, towards the area around Burj Khalifa, is closed, as is Mohammed bin Rashid Boulevard, Burj Khalifa St and Financial Centre Street lower deck.
On Thursday, Dubai announced guidelines for New Year’s Eve celebrations in the emirate.
Firework displays will be held in 29 places in the emirate to discourage mass gatherings and encourage spectators to practise social distancing, Dubai Media Office said on Twitter.
Thirty-six shows of spectacular pyrotechnics will light up the skies above several landmark sites in the emirate, with shows planned at Burj Khalifa, Expo 2020 Dubai and Atlantis The Palm.
Burj Khalifa will stage the Eve of Wonders at the stroke of midnight on Friday. Visitors can expect impressive fireworks and light shows, as well as a new laser feature that will make its debut at The Dubai Fountain in sync with Burj Khalifa's programme.
There will be be two firework displays at Expo 2020 Dubai – one at midnight and another at 3am on Saturday.
Expo visitors can also expect 13 hours of non-stop festivities, beginning at 3pm. There will be entertainment from world-famous DJs, a midnight “ball drop” at Al Wasl Plaza and celebrations at some of the 192 country pavilions to celebrate the occasion.
Masks must be worn at all times when celebrating New Year’s Eve in public. The penalty for not wearing one when required to do so is Dh3,000 ($816).
Residents are reminded to follow all precautionary measures set out by the emirate to halt the spread of Covid-19.
The directive came from Sheikh Hamdan bin Mohammed, Crown Prince of Dubai and Chairman of the Executive Council of Dubai.
Sheikh Mansoor bin Mohammed, Chairman of Dubai’s Supreme Committee of Crisis and Disaster Management, said strong preventive measures had helped to keep people safe.
“Dubai has continuously monitored local and global developments to take the decisive action necessary to protect the community and implement precautionary measures outlined by local and international health authorities,” he said in a statement.
“Every member of the community should stringently observe the preventive guidelines in place, including wearing face masks and observing social distancing, to protect their families and others.”
Dubai Ambulance crews are also on standby to handle any emergencies. At least 219 emergency vehicles, 873 paramedics, 60 volunteers and 35 supervisors will cover the dozens of events taking place across the emirate, Dubai Ambulance said.
Expo 2020 Dubai, for example, will be secured by nine emergency vehicles, an ambulance bus, a field support unit and eight first responder vehicles.
Six ambulances and 16 paramedics will be at Dubai Mall, while around Burj Khalifa, authorities will station 15 emergency vehicles.
Palm Jumeirah, Global Village and Burj Al Arab are among the other locations where emergency services will be stationed.
SPECS
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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
More from Aya Iskandarani
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
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Global state-owned investor ranking by size
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United States
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China
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UAE
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Japan
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5
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Norway
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Canada
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Singapore
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Australia
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Saudi Arabia
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South Korea
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UAE squad to face Ireland
Ahmed Raza (captain), Chirag Suri (vice-captain), Rohan Mustafa, Mohammed Usman, Mohammed Boota, Zahoor Khan, Junaid Siddique, Waheed Ahmad, Zawar Farid, CP Rizwaan, Aryan Lakra, Karthik Meiyappan, Alishan Sharafu, Basil Hameed, Kashif Daud, Adithya Shetty, Vriitya Aravind
