President Sheikh Mohamed arrives in Cairo and holds talks with El Sisi

President Sheikh Mohamed arrived on Wednesday in Cairo where he held talks with Egypt's president, Abdel Fattah El Sisi, state news agency Wam reported.

The two leaders reviewed bilateral relations in all fields and close cooperation between the two nations on regional issues, the Egyptian presidency said.

"The meeting included an exchange of views on the most pressing regional and international issues. Their discussion reflected mutual understanding on how to handle these issues," it said.

"I had the pleasure of meeting with my brother President Abdel Fattah El Sisi in Cairo today. We explored opportunities to further strengthen the deep-rooted ties between the UAE and Egypt, and discussed our shared interest in promoting regional stability and progress," Sheikh Mohamed said in a tweet.

Earlier on Wednesday, the UAE leader was greeted on his arrival at Cairo International Airport by Mr El Sisi.

The two leaders then drove to the nearby Ittihadiyah presidential palace, where Sheikh Mohamed inspected a guard of honour, footage released by Mr El Sisi's office showed.

Sheikh Mohamed was accompanied on his visit to Cairo by Sheikh Mansour bin Zayed, Vice President, Deputy Prime Minister and Minister of the Presidential Court; Sheikh Hamdan bin Mohamed; and Sheikh Sultan bin Hamdan, adviser to the UAE President.

Also travelling with the UAE leader was Sheikh Mohamed bin Hamad, adviser for Special Affairs at the Ministry of Presidential Affairs, and Ali Al Shamsi, Secretary General of the Supreme Council for National Security.

The UAE's ambassador in Cairo, Mariam Al Kaaby, joined the delegation.

In addition to Mr El Sisi, the UAE President was received at the airport by Prime Minister Mostafa Madbouly, Foreign Minister Sameh Shoukry, Electricity Minister Mohammed Shaker, Planning Minister Hala El Said and Abbas Kamel, the chief of intelligence.

Strong allies

The UAE is among Egypt's main Arab allies and financial backers. The two countries are bound by vast economic and military ties.

The leaders of the two countries frequently consult on regional and international issues and their armed forces regularly hold joint exercises.

In February, Mr El Sisi visited Abu Dhabi during a working trip to the UAE to attend the World Government Summit in Dubai.

During a short break at Al Shati Palace, he and Sheikh Mohamed discussed bilateral ties, aspects of co-operation and ways of strengthening them.

In August, Sheikh Mohamed held talks with Mr El Sisi at El Alamein International Airport north of the Egyptian capital, Cairo.

The two sides discussed co-operation and opportunities to grow the strategic partnership between the UAE and Egypt, especially in the economic and development fields.

The UAE, Saudi Arabia and Kuwait are thought to have provided Egypt with about $100 billion over the past decade in grants, loans, investments and discounted shipments of oil products.

Mr El Sisi has frequently thanked the three nations publicly for their aid, saying Egypt could not have managed economically without their help during the economic slump and political turmoil in the years that followed a 2011 uprising that forced long-time ruler Hosni Mubarak to step down.

Egypt has again been gripped by an economic crisis chiefly caused by the fallout from the Ukraine war.

Since March last year, the value of Egypt's currency has almost halved. Its double-digit inflation is at its highest level in nearly six years and the country suffers from a persistent foreign currency shortage.

The Egyptian government is hoping that national sovereign funds from Gulf Arab states would buy stakes in 32 companies and banks which Cairo announced this year would be available for privatisation.

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Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
Premier League-standard football pitch
400m Olympic running track
NBA-spec basketball court with auditorium
600-seat auditorium
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AR and VR-enabled learning centres
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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