Sheikh Mansour bin Zayed, Vice President, Deputy Prime Minister and Minister of the Presidential Court, called on the region to come together to ensure peace and prosperity, at the Arab League summit in Jeddah on Friday.
Sheikh Mansour stressed the need for co-operation between Arab nations to help drive development, state news agency Wam reported.
He congratulated Syria on its return to the Arab League, following a 12-year absence, and expressed his hope it would emerge from its current difficulties to achieve stability.
Sheikh Mansour, who has now left Jeddah after taking part in the summit, said that despite challenges facing the region, there was cause to be hopeful of resolutions to local conflicts.
He called on Sudan to overcome its political and humanitarian crisis through dialogue and compromise, thanking Saudi Arabia for its role in bringing about talks to help end the deadlock.
Sheikh Mansour appealed to Arab countries to bolster ties and strengthen economic and developmental collaborations.
He thanked Saudi Arabia's King Salman and Crown Prince Mohammed bin Salman for their hospitality and hosting of the gathering and offered his appreciation to Algeria for its work presiding over previous summits and commended the Secretariat General of the Arab League for its preparations.
Sheikh Mansour met a number of regional and international leaders in Jeddah, including Ukrainian President Volodymyr Zelenskyy.
Wam earlier reported that Sheikh Mansour and his delegation were greeted by Prince Badr bin Sultan, deputy governor of Makkah, Ahmed Aboul Gheit, Secretary General of the Arab League, and several senior officials on arrival in Saudi Arabia.
Sheikh Mansour held talks with Syrian President Bashar Al Assad on the sidelines of the summit.
They reviewed the strong ties between their nations, Wam reported.
They also touched on the agenda of the key summit, as well as a number of issues of mutual interest.
Sheikh Mansour conveyed the greetings of President Sheikh Mohamed to Mr Al Assad and expressed his wish for peace and stability in Syria.
The Syrian leader made clear his gratitude to Sheikh Mohamed for the UAE's support of Syria and its role in facilitating its return to the Arab League.
The meeting was attended by accompanying delegations from both the UAE and Syria.
Sheikh Mansour is attending the summit on behalf of President Sheikh Mohamed. He leads a delegation of senior UAE officials.
Included in the delegation are Ali Al Shamsi, Deputy Secretary General of the Supreme National Security Council, Abdulla bin Touq, Minister of Economy, Sheikh Shakhbout bin Nahyan, Minister of State, Sarah Al Amiri, Minister of State for Public Education and Future Technology, Khalifa Al Marar, Minister of State, Sheikh Nahyan bin Saif, UAE ambassador to Saudi Arabia, and Maryam Al Kaabi, UAE Ambassador to Egypt.
The summit gathered together representatives of 22 Arab League member states for annual talks.
They were expected to pass 32 draft resolutions as part of the Arab action plan for 2023, which will lay out regional priorities and how they plan to tackle them over the coming year.
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The National Archives, Abu Dhabi
Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.
Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en
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MATCH INFO
Barcelona v Real Madrid, 11pm UAE
Match is on BeIN Sports
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
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
The Two Popes
Director: Fernando Meirelles
Stars: Anthony Hopkins, Jonathan Pryce
Four out of five stars
Difference between fractional ownership and timeshare
Although similar in its appearance, the concept of a fractional title deed is unlike that of a timeshare, which usually involves multiple investors buying “time” in a property whereby the owner has the right to occupation for a specified period of time in any year, as opposed to the actual real estate, said John Peacock, Head of Indirect Tax and Conveyancing, BSA Ahmad Bin Hezeem & Associates, a law firm.
MATCH INFO
Quarter-finals
Saturday (all times UAE)
England v Australia, 11.15am
New Zealand v Ireland, 2.15pm
Sunday
Wales v France, 11.15am
Japan v South Africa, 2.15pm
'Worse than a prison sentence'
Marie Byrne, a counsellor who volunteers at the UAE government's mental health crisis helpline, said the ordeal the crew had been through would take time to overcome.
“It was worse than a prison sentence, where at least someone can deal with a set amount of time incarcerated," she said.
“They were living in perpetual mystery as to how their futures would pan out, and what that would be.
“Because of coronavirus, the world is very different now to the one they left, that will also have an impact.
“It will not fully register until they are on dry land. Some have not seen their young children grow up while others will have to rebuild relationships.
“It will be a challenge mentally, and to find other work to support their families as they have been out of circulation for so long. Hopefully they will get the care they need when they get home.”
