Elon Musk and Mohammed Al Gergawi, Minister of Cabinet Affairs, at the World Government Summit in 2017. Jeffrey E Biteng / The National
Elon Musk and Mohammed Al Gergawi, Minister of Cabinet Affairs, at the World Government Summit in 2017. Jeffrey E Biteng / The National
Elon Musk and Mohammed Al Gergawi, Minister of Cabinet Affairs, at the World Government Summit in 2017. Jeffrey E Biteng / The National
Elon Musk and Mohammed Al Gergawi, Minister of Cabinet Affairs, at the World Government Summit in 2017. Jeffrey E Biteng / The National

Elon Musk to appear at World Government Summit in Dubai


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Hundreds of ministers, business chiefs, decision-makers and experts from around the globe will gather in Dubai on Monday for the World Government Summit.

Over the course of three days, they will reflect on crucial themes such as how artificial intelligence is reshaping work, the challenge of feeding the world’s surging population and the urgency of tackling climate change.

The summit will feature a conversation between Elon Musk, the billionaire owner of Twitter and founder of SpaceX, and Mohammed Al Gergawi, Minister of Cabinet Affairs.

Mr Musk featured at the event in 2017 when he said governments may need to consider paying citizens a basic income to ease social inequality due to increasing automation of jobs.

Organisers have not yet said whether he will attend next week in person or remotely.

“The summit has become a point to exchange expertise, knowledge and ideas,” said Mr Al Gergawi, also chairman of the summit.

The summit has become a point to exchange expertise, knowledge and ideas
Mohammed Al Gergawi,
Minister of Cabinet Affairs

The fight against climate change will also feature prominently. The UAE hosts the Cop28 climate change conference in November and December, and Dr Sultan Al Jaber, President-designate of Cop28 will give a keynote address on Tuesday about the road ahead and how the UAE seeks to prioritise action.

Wavel Ramkalawan, President of Seychelles, will speak on the same day about a pressing topic to be addressed at Cop28 — how to deal with rising seas.

The summit will also hear from Pakistan’s Minister of Climate Change, Sherry Rehman; Khadeeja Naseem, Minister of State for Environment, Climate Change and Technology of Maldives; Razan Al Mubarak, UN Climate Change High-Level Champion, Cop28; and Yasmin Fouad, Minister of Environment for Egypt.

Egyptian President Abdel Fattah El Sisi; UN Secretary General Antonio Guterres; Kristalina Georgieva, managing director of the International Monetary Fund; Dr Tedros Adhanhom Ghebreyesus, director general of the World Health Organisation; and "futurist" and pop star will.i.am are all expected to participate in the three-day event.

The event is also set to hear from Nick Clegg, a former deputy prime minister of the UK and now president of Meta. He will discuss artificial intelligence-augmented governance with Omar Al Olama, UAE Minister of State for Artificial Intelligence, Remote Work and Digital Applications.

The summit will also hear from the first Arab woman prime minister, Tunisia's Najla Bouden, in a talk with Ohood Al Roumi, UAE Minister of State for Government Development and Future.

Sheikh Saif bin Zayed, Deputy Prime Minister and Minister of Interior, will speak; and Sheikh Saud bin Saqr Al Qasimi, Ruler of Ras Al Khaimah, will present his vision for the emirate.

How governments can deal with uncertainty is an important part of the debate and attendees will hear from Nasser Al Khater, who was chief executive of the Fifa World Cup Qatar 2022, and Najeeb Al Ali, executive director of Expo 2020 Bureau, about staging major events amid challenging circumstances.

The summit will also host the economist Esther Duflo, an expert on how to tackle poverty, and chemist Dr Roger Kornberg, acclaimed for his work in the field of RNA.

In total, 250 ministers and more than 10,000 officials will attend 22 international sub-conferences, where more than 300 speakers will highlight the topics of sustainability, health care, economy, technology and establishing policies and strategies for governments.

World Government Summit takes place from February 13 to 15 at Madinat Jumeirah in Dubai.

The World Government Summit 2022 - in pictures

  • Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, and Mohammed Al Gergawi, Minister of Cabinet Affairs, listen to 'ethical hacker' David Colombo speak at a session at the World Government Summit 2022. Pawan Singh / The National
    Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, and Mohammed Al Gergawi, Minister of Cabinet Affairs, listen to 'ethical hacker' David Colombo speak at a session at the World Government Summit 2022. Pawan Singh / The National
  • Colombo, founder and chief executive of the Colombo Technology cyber security company, at the summit. Pawan Singh / The National
    Colombo, founder and chief executive of the Colombo Technology cyber security company, at the summit. Pawan Singh / The National
  • Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, attends the World Government Summit in Dubai. Photo: Dubai Media Office
    Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, attends the World Government Summit in Dubai. Photo: Dubai Media Office
  • Sheikh Mohammed, Sheikh Hamdan and Sheikh Maktoum bin Mohammed, Deputy Prime Minister, Minister of Finance and Deputy Ruler of Dubai, at the summit. Photo: Dubai Media Office
    Sheikh Mohammed, Sheikh Hamdan and Sheikh Maktoum bin Mohammed, Deputy Prime Minister, Minister of Finance and Deputy Ruler of Dubai, at the summit. Photo: Dubai Media Office
  • George Friedman, founder and chairman of Geopolitical Futures, at the summit. Pawan Singh / The National
    George Friedman, founder and chairman of Geopolitical Futures, at the summit. Pawan Singh / The National
  • The summit will conclude on Wednesday. Pawan Singh / The National
    The summit will conclude on Wednesday. Pawan Singh / The National
  • A visitor steps on to a self-driving vehicle at the summit. Pawan Singh / The National
    A visitor steps on to a self-driving vehicle at the summit. Pawan Singh / The National
  • Thousands of delegates and hundreds of speakers are attending the summit. Pawan Singh / The National
    Thousands of delegates and hundreds of speakers are attending the summit. Pawan Singh / The National
  • CNBC anchor Hadley Gamble, left, moderates a panel discussion featuring the UAE's Minister of Energy and Infrastructure, Suhail Al Mazrouei, Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman and Iraqi Kurdistan's Prime Minister Masrour Barzani. AFP
    CNBC anchor Hadley Gamble, left, moderates a panel discussion featuring the UAE's Minister of Energy and Infrastructure, Suhail Al Mazrouei, Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman and Iraqi Kurdistan's Prime Minister Masrour Barzani. AFP
  • People arrive at the World Government Summit, being held on Tuesday and Wednesday. Pawan Singh / The National
    People arrive at the World Government Summit, being held on Tuesday and Wednesday. Pawan Singh / The National
  • People arrive at the World Government Summit, being held on Tuesday and Wednesday. Pawan Singh / The National
    People arrive at the World Government Summit, being held on Tuesday and Wednesday. Pawan Singh / The National
  • A poster shows Elon Musk, a speaker at a previous year's event. Pawan Singh / The National
    A poster shows Elon Musk, a speaker at a previous year's event. Pawan Singh / The National
  • Delegates at the World Government Summit 2022. Pawan Singh / The National
    Delegates at the World Government Summit 2022. Pawan Singh / The National
  • The conference centre at Expo 2020 Dubai. Pawan Singh / The National
    The conference centre at Expo 2020 Dubai. Pawan Singh / The National
  • The auditorium is one of the major buildings that will remain in place after the world's fair ends. Pawan Singh / The National
    The auditorium is one of the major buildings that will remain in place after the world's fair ends. Pawan Singh / The National
The biog

Favourite Emirati dish: Fish machboos

Favourite spice: Cumin

Family: mother, three sisters, three brothers and a two-year-old daughter

World record transfers

1. Kylian Mbappe - to Real Madrid in 2017/18 - €180 million (Dh770.4m - if a deal goes through)
2. Paul Pogba - to Manchester United in 2016/17 - €105m
3. Gareth Bale - to Real Madrid in 2013/14 - €101m
4. Cristiano Ronaldo - to Real Madrid in 2009/10 - €94m
5. Gonzalo Higuain - to Juventus in 2016/17 - €90m
6. Neymar - to Barcelona in 2013/14 - €88.2m
7. Romelu Lukaku - to Manchester United in 2017/18 - €84.7m
8. Luis Suarez - to Barcelona in 2014/15 - €81.72m
9. Angel di Maria - to Manchester United in 2014/15 - €75m
10. James Rodriguez - to Real Madrid in 2014/15 - €75m

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The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.

Part three: an affection for classic cars lives on

Read part two: how climate change drove the race for an alternative 

Read part one: how cars came to the UAE

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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

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What can victims do?

Always use only regulated platforms

Stop all transactions and communication on suspicion

Save all evidence (screenshots, chat logs, transaction IDs)

Report to local authorities

Warn others to prevent further harm

Courtesy: Crystal Intelligence

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 

 

Updated: February 14, 2023, 6:37 AM