Sheikha Fatima launches website to promote fund for refugee women

Sheikha Fatima bint Mubarak, Mother of the Nation, has launched a website to support efforts made to help displaced women.

The Fund for Refugee Women, launched in 2000 in collaboration with the Emirates Red Crescent and the UN High Commission for Refugees, aims to provide protection and assistance for refugee women and children worldwide.

The website launched on Thursday and is available in English and Arabic, state news agency Wam reported.

It aims to highlight the fund's vision, mission and values that works towards ensuring that refugee women have access to equal opportunities and resources.

In a speech posted on the website, the wife of UAE Founding Father, the late Sheikh Zayed bin Sultan Al Nahyan, said that offering help to others is a duty everyone is capable of.

"With the increasing challenges that people on the planet face, including natural disasters, climate change, wars and conflicts, the numbers of refugees and displaced persons who do not have the minimal living standards are increasing," Sheikha Fatima said.

"Their suffering always urges us to strive to ease their pain, and provide healthcare, food, water and energy."

Sheikha Fatima said the fund aims to be "an effective partner in achieving the development of their resources, supporting the stability of their families and enhancing their role as mothers and educators."

The Sheikha Fatima Fund for Refugee Women is assisting in the resettlement of Afghan refugees, particularly women, by introducing sustainable family projects to generate income for those hit by severe poverty.

It also provides financial support for women in Jordan, establishing agricultural and livestock production projects for refugee women from South Sudan in Uganda and helping to address the basic needs of Rohingya refugees in Cox's Bazar camp in Bangladesh.

Other projects include assisting displaced women in Syria following last year's earthquake, providing healthcare services for refugees in Mauritania and helping to reduce maternal and newborn mortality rates in communities facing health challenges in Mauritania, Kenya and Mali, in collaboration with the Emirates Red Crescent and Etihad Airways.

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Company profile

Name: Back to Games and Boardgame Space

Started: Back to Games (2015); Boardgame Space (Mark Azzam became co-founder in 2017)

Founder: Back to Games (Mr Azzam); Boardgame Space (Mr Azzam and Feras Al Bastaki)

Based: Dubai and Abu Dhabi

Industry: Back to Games (retail); Boardgame Space (wholesale and distribution)

Funding: Back to Games: self-funded by Mr Azzam with Dh1.3 million; Mr Azzam invested Dh250,000 in Boardgame Space

Growth: Back to Games: from 300 products in 2015 to 7,000 in 2019; Boardgame Space: from 34 games in 2017 to 3,500 in 2019

UAE - India ties

The UAE is India’s third-largest trade partner after the US and China

Annual bilateral trade between India and the UAE has crossed US$ 60 billion

The UAE is the fourth-largest exporter of crude oil for India

Indians comprise the largest community with 3.3 million residents in the UAE

Indian Prime Minister Narendra Modi first visited the UAE in August 2015

His visit on August 23-24 will be the third in four years

Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, visited India in February 2016

Sheikh Mohamed was the chief guest at India’s Republic Day celebrations in January 2017

Modi will visit Bahrain on August 24-25

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