The Terracotta State Drawing Room in Downing Street, where the major deals between the UAE and UK were signed today, serves as the second reception room of the British Prime Minister's residence.
On the first floor of Number 10 Downing Street, it is the middle of three interlinked state drawing rooms, sandwiched between the Pillared Drawing Room, which is used to for events and grand receptions, and the White Drawing Room, which is often used for Downing Street staff meetings.
The Terracotta Room derives its name from the colour in which it is painted. When Margaret Thatcher came to power in the late 1970s it was called the Blue Room.
She appointed architect Quinlan Terry to refurbish the state drawing rooms at the end of the 1980s. The refurbishment included ornate plasterwork on the ceilings to present a more stately look.
Mr Terry built large Doric order columns into the door surrounds as part of the refurbishment. He also designed a vast Palladian overmantel for the fireplace with small double Doric columns on each side with the royal arms above.
After the refurbishment it was renamed the Green Room, before becoming the Terracotta Room.
Sir Robert Walpole, who held the title of First Lord of the Treasury and effectively served as Britain's first prime minister, used this space as a dining room during his time in office.
The walls of the room are decorated with famous works of art on loan from the Government Art Collection.
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Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces meets with The Rt Hon Anne-Marie Trevelyan, Secretary of State for International Trade. Ministry of Presidential Affairs -

Sheikh Mohamed bin Zayed meets with Alok Sharma, COP26 President. Ministry of Presidential Affairs -

Sheikh Mohamed bin Zayed with UK Prime Minister Boris Johnson, at 10 Downing Street. Ministry of Presidential Affairs -

Sheikh Mohamed bin Zayed and Prime Minister Boris Johnson held wide-ranging talks in London. Ministry of Presidential Affairs -

Sheikh Mohamed bin Zayed and Prime Minister Boris Johnson announced the launch of a Partnership for the Future between the UAE and the UK. Ministry of Presidential Affairs -

Sheikh Mohamed bin Zayed at a military guard of honour before attending a UK-UAE business reception. Ministry of Presidential Affairs -

Sheikh Mohamed bin Zayed and Prime Minister Boris Johnson wear EXPO 2020 wristbands during a reception at 10 Downing Street. Ministry of Presidential Affairs -

Boris Johnson and Sheikh Mohamed bin Zayed in front of an audience of businessmen, bankers and senior politicians at Downing Street. Ministry of Presidential Affairs -

Sheikh Mohamed bin Zayed and Prime Minister Boris Johnson witness the signing of key agreements between the UAE and the UK. Ministry of Presidential Affairs -

Sheikh Mohamed bin Zayed arrives to a reception hosted by Prime Minister Boris Johnson at 10 Downing Street. Ministry of Presidential Affairs -

Boris Johnson thanked the UAE for its role in facilitating evacuations from Afghanistan after the Taliban took control of the country. Ministry of Presidential Affairs -

Sheikh Mohamed bin Zayed reviews a military guard of honour at Horse Guards Parade shortly after his arrival in London. Ministry of Presidential Affairs -

Sheikh Mohamed bin Zayed was given a guard of honour shortly after his arrival in London on an official visit to the UK. Ministry of Presidential Affairs
Tamkeen's offering
- Option 1: 70% in year 1, 50% in year 2, 30% in year 3
- Option 2: 50% across three years
- Option 3: 30% across five years
Analysis
Members of Syria's Alawite minority community face threat in their heartland after one of the deadliest days in country’s recent history. Read more
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How to help
Send “thenational” to the following numbers or call the hotline on: 0502955999
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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.
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Rating: 4 / 5
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Name: The Protein Bakeshop
Date of start: 2013
Founders: Rashi Chowdhary and Saad Umerani
Based: Dubai
Size, number of employees: 12
Funding/investors: $400,000 (2018)
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How to watch Ireland v Pakistan in UAE
When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.
INFO
What: DP World Tour Championship
When: November 21-24
Where: Jumeirah Golf Estates, Dubai
Tickets: www.ticketmaster.ae.
Founders: Abdulmajeed Alsukhan, Turki Bin Zarah and Abdulmohsen Albabtain.
Based: Riyadh
Offices: UAE, Vietnam and Germany
Founded: September, 2020
Number of employees: 70
Sector: FinTech, online payment solutions
Funding to date: $116m in two funding rounds
Investors: Checkout.com, Impact46, Vision Ventures, Wealth Well, Seedra, Khwarizmi, Hala Ventures, Nama Ventures and family offices
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
Game Of Thrones Season Seven: A Bluffers Guide
Want to sound on message about the biggest show on television without actually watching it? Best not to get locked into the labyrinthine tales of revenge and royalty: as Isaac Hempstead Wright put it, all you really need to know from now on is that there’s going to be a huge fight between humans and the armies of undead White Walkers.
The season ended with a dragon captured by the Night King blowing apart the huge wall of ice that separates the human world from its less appealing counterpart. Not that some of the humans in Westeros have been particularly appealing, either.
Anyway, the White Walkers are now free to cause any kind of havoc they wish, and as Liam Cunningham told us: “Westeros may be zombie land after the Night King has finished.” If the various human factions don’t put aside their differences in season 8, we could be looking at The Walking Dead: The Medieval Years.

