Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, on Sunday announced a 58 per cent boost to the fund supporting Emiratis in Dubai who are on limited incomes.
The allocated resources to help the emirate's most vulnerable are now at Dh438 million ($119m).
Sheikh Hamdan, chairman of the Higher Committee for Development and Citizens Affairs, emphasised the importance of caring for citizens.
“The social sector is the most important during the coming period, and I invite all government agencies to focus on it,” Sheikh Hamdan said at the committee's first meeting.
“I invite all economic actors to participate in developing this vital sector,” he said.
“My brother [Deputy Prime Minister, Minister of Finance and Deputy Ruler of Dubai] Sheikh Maktoum and I have a mission” entrusted by Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai.
“Citizens first and second and third,” Sheikh Hamdan said.
Also announced was an increase of between 20 per cent and 67 per cent for beneficiaries registered with the Community Development Authority, as well as a priority for increased benefits for families with senior citizens, widows, divorced women and lower-income families.
Families that have a breadwinner under the age of 40 will be included in the Dubai Financial Empowerment Programme with the aim of supporting their independence.
During the meeting, discussions for the social sector included 10 government agencies and a comprehensive plan to be complete within two months.
An integrated platform dedicated to services to citizens in Dubai will also be launched.
Speaking of his father's vision, Sheikh Hamdan mentioned the importance of ensuring Emiratis are cared for.
“Mohammed bin Rashid's vision is to provide the best standard of life for our citizens, the best environment for raising our families, and the best economic opportunities for our youth.”
The Higher Committee for Development and Citizens Affairs was created in May to advance the development of Emiratis in Dubai, to ensure long-term stability and raise the quality of life for citizens.
The Higher Committee will now begin to develop model neighbourhoods for citizens in Dubai, starting with Al Mazhar 1, Al Khawaneej 2, Al Barsha 2 and Hatta, as well as a detailed plan for the development of rural and remote areas.
The committee is also working on a set of initiatives and policies that aim to meet the needs of retirees in Dubai by providing them with more economic opportunities.
The biog
Favourite Emirati dish: Fish machboos
Favourite spice: Cumin
Family: mother, three sisters, three brothers and a two-year-old daughter
World record transfers
1. Kylian Mbappe - to Real Madrid in 2017/18 - €180 million (Dh770.4m - if a deal goes through)
2. Paul Pogba - to Manchester United in 2016/17 - €105m
3. Gareth Bale - to Real Madrid in 2013/14 - €101m
4. Cristiano Ronaldo - to Real Madrid in 2009/10 - €94m
5. Gonzalo Higuain - to Juventus in 2016/17 - €90m
6. Neymar - to Barcelona in 2013/14 - €88.2m
7. Romelu Lukaku - to Manchester United in 2017/18 - €84.7m
8. Luis Suarez - to Barcelona in 2014/15 - €81.72m
9. Angel di Maria - to Manchester United in 2014/15 - €75m
10. James Rodriguez - to Real Madrid in 2014/15 - €75m
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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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What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
Name: Peter Dicce
Title: Assistant dean of students and director of athletics
Favourite sport: soccer
Favourite team: Bayern Munich
Favourite player: Franz Beckenbauer
Favourite activity in Abu Dhabi: scuba diving in the Northern Emirates
