Sheikh Abdullah meets Estonian president and German vice chancellor at Expo 2020 Dubai

Sheikh Abdullah bin Zayed, Minister of Foreign Affairs and International Co-operation, on Tuesday met the President of Estonia, Alar Karis, at Expo 2020 Dubai.

They discussed UAE-Estonia relations and ways to enhance co-operation to advance the mutual interests of their countries.

The pair also exchanged views on a number of regional and international issues, including developments in Ukraine, focusing on ways to strengthen efforts to reach a political solution to the crisis.

They also reviewed Estonia's participation in Expo 2020 Dubai and the importance of using the opportunities provided by the world's fair to promote co-operation between the two countries.

Sheikh Abdullah praised Estonia's world-leading model in digital transformation and its sophisticated IT and cybersecurity sector.

Mr Karis also met with Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, at the Estonia pavilion.

Estonia marked its country day on Sunday at the world's fair with a cultural line-up of events.

Sheikh Abdullah also met German Vice Chancellor and Federal Minister for Economic Affairs and Climate Action Dr Robert Habeck.

They discussed ways to strengthen bilateral relations and joint co-operation in various fields, including economic, trade, investment and energy, and talked about the importance of stabilising the world's energy and food markets.

They also exchanged views on the latest developments in the region and internationally, including the Ukraine crisis.

On Women's Day

Dr Nawal Al-Hosany: Why more women should be on the frontlines of climate action

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The National Editorial: Is there much to celebrate on International Women's Day 2021?

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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Company profile

Date started: January, 2014

Founders: Mike Dawson, Varuna Singh, and Benita Rowe

Based: Dubai

Sector: Education technology

Size: Five employees

Investment: $100,000 from the ExpoLive Innovation Grant programme in 2018 and an initial $30,000 pre-seed investment from the Turn8 Accelerator in 2014. Most of the projects are government funded.

Partners/incubators: Turn8 Accelerator; In5 Innovation Centre; Expo Live Innovation Impact Grant Programme; Dubai Future Accelerators; FHI 360; VSO and Consult and Coach for a Cause (C3)

Tips for job-seekers

Do not submit your application through the Easy Apply button on LinkedIn. Employers receive between 600 and 800 replies for each job advert on the platform. If you are the right fit for a job, connect to a relevant person in the company on LinkedIn and send them a direct message.
Make sure you are an exact fit for the job advertised. If you are an HR manager with five years’ experience in retail and the job requires a similar candidate with five years’ experience in consumer, you should apply. But if you have no experience in HR, do not apply for the job.

David Mackenzie, founder of recruitment agency Mackenzie Jones Middle East

David Haye record

Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4

Indian construction workers stranded in Ajman with unpaid dues

Saudi National Day

Meet the Saudi citizens for whom the UAE is a home from home