Egyptian President Abdel Fattah El Sisi has arrived in Abu Dhabi for an official visit.
Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, welcomed Mr Sisi and his delegation at the Presidential Airport in Abu Dhabi.
Mr El Sisi was accorded an official reception at Al Watan Palace where the national anthems of the UAE and Egypt were played, followed by a 21-gun salute, state news agency Wam reported.
Sheikh Mohamed shared photos of the occasion saying he was happy to host a "dear guest".
"I was pleased to welcome Egyptian President Abdel Fattah El Sisi as a dear guest to the UAE today," he wrote on Twitter.
"We discussed ways to strengthen the longstanding ties between our two nations. Our brotherly talks also covered issues related to regional stability and the well-being of our people."
During the meeting, Sheikh Mohamed said that "relations between the UAE and Egypt are historical and deeply rooted."
The two sides discussed co-operation and ways to deepen ties.
The leaders spoke about regional and international developments of mutual concern, and the challenges that some countries in the Arab world are facing.
They stressed the importance of promoting joint Arab action to strengthen regional security, stability and development.
Sheikh Mohamed praised Egypt’s firm position in condemning the Houthi attacks on civilian sites in the UAE.
Mr El Sisi reiterated the solidarity of his government and people with the Emirates following the attacks and supported the UAE for taking actions to protect its people.
The Egyptian leader said his country wants to play a central role in resolving regional crises, through resisting foreign interference, combating violence and terrorism, and protecting national institutions to help restore security and stability in affected countries.
At the end of the meeting, both sides said they would continue their efforts to address the challenges in the region, mainly terrorism and the countries that support it.
The two leaders also joined Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, and Bahrain’s King Hamad for talks at Qasr Al Watan.
The four discussed the prospects of further consolidating co-operation and co-ordination over issues of common concern, as well as the latest regional and international developments, and the common challenges facing the Arab region, state news agency Wam reported.
The UAE and Egypt have maintained close ties in recent years, with regular contact about regional issues.
In January, Mr El Sisi discussed enhancing relations and co-operation with Sheikh Mohamed.
In 2020, Egypt was the UAE's largest trading partner in the Middle East, Wam reported in December.
Trade between the two countries reached Dh15.09 billion ($4.11bn), up 22 per cent from Dh12.32bn in 2019.
Egyptian exports to the UAE market totalled Dh10.58bn in 2020, compared with Dh8.12bn in 2019.
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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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Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Our legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
