Sheikh Hamdan welcomes twins Rashid and Sheikha into the world

The Crown Prince of Dubai and his wife on Thursday had twins, a boy and a girl.

Sheikh Hamdan bin Mohammed and Sheikha Sheikha bint Saeed were sent messages of congratulations from across the nation on Thursday night.

The baby boy’s name is Rashid, while the baby girl’s name is Sheikha.

Well-wishers flooded on to social media to offer their congratulations.

Senior UAE figures were among those to offer warm words to the parents.

"I congratulate my brother His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, for the arrival of his two children," Sheikh Saif bin Zayed, Deputy Prime Minister and Minister of the Interior, wrote on Twitter.

"Oh God, save them with your protection and make them the apple of the eye of their parents."

Sheikh Hamdan announced the news to his legions of followers in style.

The Dubai Crown Prince, a popular figure on social media, shared an image of a pair of small feet, one pink and one blue, to represent his happy news.

His sister, Sheikha Maryam bint Mohammed, also shared the image on social media in celebration with her brother.

Sheikh Hamdan and Sheikha Sheikha bint Saeed married in May, 2019.

Two of Sheikh Hamdan's brothers were also married during a ceremony described as a "joy of the nation".

Sarfira

Director: Sudha Kongara Prasad

Starring: Akshay Kumar, Radhika Madan, Paresh Rawal

Rating: 2/5

The Byblos iftar in numbers

29 or 30 days – the number of iftar services held during the holy month

50 staff members required to prepare an iftar

200 to 350 the number of people served iftar nightly

160 litres of the traditional Ramadan drink, jalab, is served in total

500 litres of soup is served during the holy month

200 kilograms of meat is used for various dishes

350 kilograms of onion is used in dishes

5 minutes – the average time that staff have to eat

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