Latest: Who are the Gupta brothers - and what did they do?
Dubai Police have arrested brothers Atul and Rajesh Gupta after Interpol issued a Red Notice against them for allegedly looting billions from state-owned companies in South Africa.
The arrests come after the UAE and South Africa signed an extradition treaty in 2018 following lengthy talks between the two countries. It was ratified in June last year.
“The force is now co-ordinating with authorities in South Africa regarding the extradition file to complete the legal procedures,” Dubai Police said on Twitter.
“The arrests reflect the continuous efforts of the UAE in combating money laundering crimes.”
The force is now co-ordinating with authorities in South Africa regarding the extradition file to complete the legal procedures
Dubai Police
The three Indian-born brothers, Ajay, Atul and Rajesh, are accused of using close ties with former South African president Jacob Zuma to siphon off billions of rand in state funds and influence Cabinet appointments.
Interpol placed Rajesh and Atul Gupta on its most-wanted list. They are sought by the authorities in South Africa on charges of money laundering and fraud, Bloomberg reported in February.
But Interpol declined a request from the South African government to issue Red Notices against their wives — Arthi and Chetali Gupta.
A Red Notice is a request to all Interpol member states worldwide to find and provisionally arrest a person pending extradition.
The status of Ajay Gupta was not clear and there was no mention of his arrest or whereabouts.
Minister: UAE committed to fighting international crime
Abdullah Al Nuaimi, Minister of Justice, said the arrests highlighted the UAE's determination to tackle financial crime.
"The UAE does not rest in preventing international financial crime," he said, in a statement on Wam.
"The arrest of Rajesh Gupta and Atul Gupta, two individuals wanted by South Africa and pursuant to Interpol’s international Red Notice request, is the latest example of our commitment and sustained efforts to combat illicit finance.
"I am thankful to the UAE authorities who have led this case with expert skill and compiled the requisite evidence to make the arrests possible. The arrests send a clear statement of the UAE’s proactive efforts to work in close collaboration with its international partners and organisations."
The two men were arrested on June 2 in line with the extradition agreement between the countries.
"The extradition request between authorities in the UAE and South Africa is under procedure and further information will be made available in due course," said a statement on Wam.
Once ranked among the country's most prominent businessmen, the South African authorities accuse the Guptas of being at the centre of a web of state corruption during Mr Zuma’s rule, during which the government estimates more than 500 billion rand ($32.3bn) was stolen from its coffers.
The Gupta brothers deny any wrongdoing and have fought the application of the Red Notices, saying they are the victims of a political witch hunt in South Africa.
President Cyril Ramaphosa’s administration first asked the Emirati authorities to extradite the Gupta brothers in 2018.
In 2019, the US also imposed restrictions on the family. These range from visa bans to asset freezes. The UK followed suit a year later.
The brothers, all in their 40s, moved from the northern state of Uttar Pradesh in India to South Africa in 1993 as apartheid was coming to an end.
Their family business, Sahara Computers, was soon established and elevated the Guptas to become one of the country's richest families within two decades.
By 2016, Atul Gupta was reported to have an estimated wealth of $773.47 million (Dh2.8bn).
The Guptas fled South Africa shortly after Mr Zuma resigned from the presidency in February, 2018.
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- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
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The bio
Favourite book: Peter Rabbit. I used to read it to my three children and still read it myself. If I am feeling down it brings back good memories.
Best thing about your job: Getting to help people. My mum always told me never to pass up an opportunity to do a good deed.
Best part of life in the UAE: The weather. The constant sunshine is amazing and there is always something to do, you have so many options when it comes to how to spend your day.
Favourite holiday destination: Malaysia. I went there for my honeymoon and ended up volunteering to teach local children for a few hours each day. It is such a special place and I plan to retire there one day.
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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Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
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Teaching your child to save
Pre-school (three - five years)
You can’t yet talk about investing or borrowing, but introduce a “classic” money bank and start putting gifts and allowances away. When the child wants a specific toy, have them save for it and help them track their progress.
Early childhood (six - eight years)
Replace the money bank with three jars labelled ‘saving’, ‘spending’ and ‘sharing’. Have the child divide their allowance into the three jars each week and explain their choices in splitting their pocket money. A guide could be 25 per cent saving, 50 per cent spending, 25 per cent for charity and gift-giving.
Middle childhood (nine - 11 years)
Open a bank savings account and help your child establish a budget and set a savings goal. Introduce the notion of ‘paying yourself first’ by putting away savings as soon as your allowance is paid.
Young teens (12 - 14 years)
Change your child’s allowance from weekly to monthly and help them pinpoint long-range goals such as a trip, so they can start longer-term saving and find new ways to increase their saving.
Teenage (15 - 18 years)
Discuss mutual expectations about university costs and identify what they can help fund and set goals. Don’t pay for everything, so they can experience the pride of contributing.
Young adulthood (19 - 22 years)
Discuss post-graduation plans and future life goals, quantify expenses such as first apartment, work wardrobe, holidays and help them continue to save towards these goals.
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The specs
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