President Sheikh Mohamed said 2023 will be a year when the UAE can build on its progress as a nation and look to a more prosperous future.
He hoped that the year ahead will bring peace and happiness to all.
“As we welcome the new year, we reflect with gratitude on how far we have come as a nation and renew our commitment to creating an even brighter future together,” Sheikh Mohamed said on Twitter on Saturday.
“We pray that the year ahead brings peace and happiness to the people of the UAE, the region and the world.”
Earlier, Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, shared a similar message and called for 2023 to bring “goodness and peace” across the world.
He said the UAE had “not stopped working for a single day” during 2022 to continue its development.
He promised the world “something more beautiful” to come in the year ahead.
Sheikh Mohammed shared a video charting the UAE's achievements this year, from its rise in the space sector to business growth and partnerships on the global stage.
President Sheikh Mohamed is featured in the video along with Sheikh Mohammed.
The past year has been a remarkable year for the UAE, stepping further to the future through breakthrough initiatives, Sheikh Mohammed wrote on Twitter.
“We will embrace 2023 with a relentless spirit to achieve no less than the best.
“Happy new year to our country and our people. Happy new year to the Arab and Islamic peoples and all the peoples of the world,” he wrote.
“2023 is a year of goodness and peace, God willing, for everyone.”
Key moments in the UAE in 2022 — in pictures
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The President, Sheikh Mohamed, addresses the UAE. The landmark speech in July set out his vision for the country. It came two months after the Supreme Council elected him President, following the death of Sheikh Khalifa. Photo: Presidential Court -

The President, Sheikh Mohamed, with French President, Emmanuel Macron, at the Versailles Grand Trianon in Versailles, during Sheikh Mohamed's visit to France in July. It was his first official trip abroad as President. Photo: Presidential Court -

Sheikh Mohamed attends a reception at the Army Museum in Paris during the trip. Photo: Presidential Court -

The UAE made major changes to its visa rules this year. Wam -

A new 60-day tourist visa was part of the overhaul. Christopher Pike / Bloomberg -

The Museum of the Future opened on February 22 in Dubai. Photo: Dubai Future Foundation via Reuters -

The museum, with its striking calligraphy-inscribed facade featuring quotes from Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, represents a new type of architecture for Dubai. Kamran Jebreili / AP Photo -

Shaun Killa, the architect of the museum, with a model of the museum at his offices in Dubai. Antonie Robertson / The National -

The museum envisions what the world might look like years from now. Ali Haider / EPA -
Floods hit the UAE's east coast in July. An aerial photograph of Fujairah outlined the extent of the damage. Photo: Fujairah Media Office -

Some residents were severely affected. Abdelbasit Hassan's home was flooded. Khushnum Bhandari / The National -

The floods prompted a big relief response from authorities. Takatof, community service group volunteers, helped sweep the debris away after the waters receded in Fujairah. Khushnum Bhandari / The National -
Another key event in 2022 was the effective end of Covid-19 rules. Signs were then removed across the country in malls, including Times Square Centre in Dubai, above. Chris Whiteoak / The National -

The need for regular PCR tests, such as this drive-through centre in Rabdan, Abu Dhabi, has now been mostly dispensed with. Khushnum Bhandari / The National -
Signs reminding people to wear a mask, such as this one at the Swiss International Scientific School in Dubai, have been removed in most places. Chris Whiteoak / The National -

An Etihad Rail train passing through Abu Dhabi emirate. In 2022, we learned more about the planned passenger service, with Etihad Rail stating the first passenger station will be built in Fujairah. A launch date for the passenger service has not been announced. Photo: Etihad Rail -

The Etihad Rail track. About 70 per cent of the line has been completed, the operator says. Victor Besa / The National -
Construction of the Etihad Rail railway in Fujairah. The line will connect communities across the UAE. Photo: Etihad Rail
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
What vitamins do we know are beneficial for living in the UAE
Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood.
Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues.
Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity.
Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.
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GOODBYE%20JULIA
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COMPANY PROFILE
Company name: Blah
Started: 2018
Founder: Aliyah Al Abbar and Hend Al Marri
Based: Dubai
Industry: Technology and talent management
Initial investment: Dh20,000
Investors: Self-funded
Total customers: 40
What is the FNC?
The Federal National Council is one of five federal authorities established by the UAE constitution. It held its first session on December 2, 1972, a year to the day after Federation.
It has 40 members, eight of whom are women. The members represent the UAE population through each of the emirates. Abu Dhabi and Dubai have eight members each, Sharjah and Ras al Khaimah six, and Ajman, Fujairah and Umm Al Quwain have four.
They bring Emirati issues to the council for debate and put those concerns to ministers summoned for questioning.
The FNC’s main functions include passing, amending or rejecting federal draft laws, discussing international treaties and agreements, and offering recommendations on general subjects raised during sessions.
Federal draft laws must first pass through the FNC for recommendations when members can amend the laws to suit the needs of citizens. The draft laws are then forwarded to the Cabinet for consideration and approval.
Since 2006, half of the members have been elected by UAE citizens to serve four-year terms and the other half are appointed by the Ruler’s Courts of the seven emirates.
In the 2015 elections, 78 of the 252 candidates were women. Women also represented 48 per cent of all voters and 67 per cent of the voters were under the age of 40.
COMPANY PROFILE
Mercedes-AMG GT 63 S E Performance: the specs
Engine: 4.0-litre twin-turbo V8 plus rear-mounted electric motor
Power: 843hp at N/A rpm
Torque: 1470Nm N/A rpm
Transmission: 9-speed auto
Fuel consumption: 8.6L/100km
On sale: October to December
Price: From Dh875,000 (estimate)
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When Umm Kulthum performed in Abu Dhabi
Known as The Lady of Arabic Song, Umm Kulthum performed in Abu Dhabi on November 28, 1971, as part of celebrations for the fifth anniversary of the accession of Sheikh Zayed bin Sultan Al Nahyan as Ruler of Abu Dhabi. A concert hall was constructed for the event on land that is now Al Nahyan Stadium, behind Al Wahda Mall. The audience were treated to many of Kulthum's most well-known songs as part of the sold-out show, including Aghadan Alqak and Enta Omri.
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Our legal consultant
Name: Dr Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
THE SPECS
Engine: 6.75-litre twin-turbocharged V12 petrol engine
Power: 420kW
Torque: 780Nm
Transmission: 8-speed automatic
Price: From Dh1,350,000
On sale: Available for preorder now
UK’s AI plan
- AI ambassadors such as MIT economist Simon Johnson, Monzo cofounder Tom Blomfield and Google DeepMind’s Raia Hadsell
- £10bn AI growth zone in South Wales to create 5,000 jobs
- £100m of government support for startups building AI hardware products
- £250m to train new AI models
The burning issue
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
Read part four: an affection for classic cars lives on
Read part three: the age of the electric vehicle begins
Read part one: how cars came to the UAE
Wicked: For Good
Director: Jon M Chu
Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater
Rating: 4/5

