DUBAI // A new award has been launched aimed at recognising and honouring companies that use progressive labour standards.
The Taqdeer Award was announced by Sheikh Hamdan bin Mohammed, Crown Prince of Dubai and chairman of the Dubai Executive Council.
A points-based system will be used to judge and assess labour welfare practices that meet global standards.
“The award programme reflects the importance Dubai places on ensuring progressive labour practices in line with global standards,” said Sheikh Hamdan.
“The new programme is consistent with the objectives of Dubai Plan 2021 to make Dubai a city of happy, empowered people.”
The award is named after the Arabic word for ‘appreciation’ and will be used as a way of promoting better labour welfare in the emirate.
The first year it will be focused on the construction sector and award organisers are inviting companies to take part by submitting documentation that will be evaluated by a judging committee.
Applicants will then be given points from one to five based on their evaluation and the awards are open to Dubai-based construction companies that employ manual workers.
“The extensive evaluation framework of the award will encourage companies to aspire to high standards in their management of labour,” said Sheikh Hamdan.
“We are confident that the award will help set new benchmarks for good labour practices across sectors and throughout the region.”
The aim was to make Dubai one of best places in the world to live and work, he said.
Sheikh Hamdan also praised the continuing efforts of the UAE Ministry of Labour in their effirt to create a safe environment for labour workers and urged all eligible companies to take part.
“Our country continues to enhance its legal framework for protecting labour rights and enhancing their quality of life,” he said.
Future editions will include factories in free zones where over 500,000 workers are employed, he said.
The award is for construction companies in civil, electrical and mechanical work that have been operating for at least two years and have executed a minimum of two projects in the last two years.
In the first year, only companies involved in the construction of buildings, roads, bridges, tunnels, plumbing installation and power generation plants are eligible for applying.
newsdesk@thenational.ae
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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Stage 5:
1. Jonas Vingegaard (DEN) Team Jumbo-Visma 04:19:08
2. Tadej Pogacar (SLO) UAE Team Emirates 00:00:03
3. Adam Yates (GBR) Ineos Grenadiers
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5. Joao Almeida (POR) Deceuninck-QuickStep 00:00:06
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2. Adam Yates (GBR) Ineos Grenadiers 00:00:45
3. Joao Almeida (POR) Deceuninck-QuickStep 00:01:12
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5. Neilson Powless (USA) EF Education-Nippo 00:01:56
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5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
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Light Flyweight (48kg): Alua Balkibekova (KAZ) beat Gulasal Sultonalieva (UZB) by points 4-1.
Flyweight (51kg): Nazym Kyzaibay (KAZ) beat Mary Kom (IND) 3-2.
Bantamweight (54kg): Dina Zholaman (KAZ) beat Sitora Shogdarova (UZB) 3-2.
Featherweight (57kg): Sitora Turdibekova (UZB) beat Vladislava Kukhta (KAZ) 5-0.
Lightweight (60kg): Rimma Volossenko (KAZ) beat Huswatun Hasanah (INA) KO round-1.
Light Welterweight (64kg): Milana Safronova (KAZ) beat Lalbuatsaihi (IND) 3-2.
Welterweight (69kg): Valentina Khalzova (KAZ) beat Navbakhor Khamidova (UZB) 5-0
Middleweight (75kg): Pooja Rani (IND) beat Mavluda Movlonova (UZB) 5-0.
Light Heavyweight (81kg): Farida Sholtay (KAZ) beat Ruzmetova Sokhiba (UZB) 5-0.
Heavyweight (81 kg): Lazzat Kungeibayeva (KAZ) beat Anupama (IND) 3-2.
