President of the Philippines Ferdinand Marcos Jr will attend Cop28 in Dubai. AFP
President of the Philippines Ferdinand Marcos Jr will attend Cop28 in Dubai. AFP
President of the Philippines Ferdinand Marcos Jr will attend Cop28 in Dubai. AFP
President of the Philippines Ferdinand Marcos Jr will attend Cop28 in Dubai. AFP

President Marcos Jr to meet Filipinos in Dubai during Cop28 visit


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Philippines' President Ferdinand Marcos Jr is to meet expatriate citizens next week in Dubai as part of his visit to Cop28.

The embassy in Abu Dhabi announced details of the three-hour event scheduled for November 29 at Sheikh Maktoum Hall, Dubai World Trade Centre.

The event, which starts at 5pm, is open to Filipinos aged 18 and older. Registration is required.

The Philippines consulate has launched an online portal for Filipinos to register. A valid passport is required.

Once registration is verified, a VR code is issued, which must be presented on the day, along with a valid passport.

Security checks will be carried out on the day and organisers have banned large bags, selfie sticks, umbrellas and items such as posters, banners, placards and streamers. Gates open on the day at 3pm and close at 4.30pm.

The event takes place on the eve of Cop28 at Expo City Dubai.

Mr Marcos Jr, who confirmed his attendance at the global summit in summer, was elected President in May last year following a landslide win, with nearly 60 per cent of the vote.

An estimated one million Filipinos live in the UAE, about 20 per cent of whom are domestic workers.

During the Philippines' 125th Independence Day celebrations in Abu Dhabi in June, the country's ambassador to the UAE, Alfonso Ver, said the community was growing in the Emirates because Filipinos consider it a “land of opportunities”.

“This country nurtures, it provides opportunities to thrive. If you have the capability, if you have the competence and drive, this is the place you can do it,” said the ambassador.

“Overall, the UAE is a very open, inclusive and very tolerant society. And our numbers here are growing. We have proven ourselves as competent, hardworking and reliable people.”

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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Updated: November 21, 2023, 2:31 PM