• Mohammed bin Rashid, Vice President and Ruler of Dubai, at a UAE Cabinet meeting on Sunday. All photos courtesy Dubai Media Office
    Mohammed bin Rashid, Vice President and Ruler of Dubai, at a UAE Cabinet meeting on Sunday. All photos courtesy Dubai Media Office
  • The meeting discussed several key policy developments
    The meeting discussed several key policy developments
  • And reviewed the country's global competitive standing
    And reviewed the country's global competitive standing
  • The UAE does not have a development option other than to excel and continue. Regressing is not an option, said Sheikh Mohammed
    The UAE does not have a development option other than to excel and continue. Regressing is not an option, said Sheikh Mohammed
  • Sheikh Mohammed said the meeting approved federal structures for the ministries of Economy, Culture, Energy and Industry and approved new laws to develop private education in the country
    Sheikh Mohammed said the meeting approved federal structures for the ministries of Economy, Culture, Energy and Industry and approved new laws to develop private education in the country
  • Sheikh Mohammed said the UAE ranked in the 10 most competitive countries globally in 300 international indicators
    Sheikh Mohammed said the UAE ranked in the 10 most competitive countries globally in 300 international indicators
  • A set of economic agreements with Egypt, Chile, Zambia and others were agreed
    A set of economic agreements with Egypt, Chile, Zambia and others were agreed
  • Sheikh Mohammed said 2020 was an exceptional year despite the challenges of Covid-19 and marked the year of the Mars mission, of nuclear energy and of peace and international competitiveness
    Sheikh Mohammed said 2020 was an exceptional year despite the challenges of Covid-19 and marked the year of the Mars mission, of nuclear energy and of peace and international competitiveness

Sheikh Mohammed bin Rashid invites public to help shape UAE’s future


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Sheikh Mohammed bin Rashid, UAE Prime Minister and Ruler of Dubai, has called for suggestions from the public to help shape the future of the country as he launched a project for the next half-century.

The project, Designing the Next 50, supports the 2020: Towards the next 50 plan, a national strategy to serve the next five decades of development in the Emirates.

A website will be launched on which citizens and residents are encouraged to share their thoughts.

Their contributions on sectors such as health, housing, education, tourism and food security, among many others, will help to shape government policies.

We invite citizens and residents to join us in shaping the future of the UAE

“Fifty years ago, the UAE’s founders started a mission to involve people in shaping the country’s future that we see today,” Sheikh Mohammed said.

“They started from the desert with ambitions that reached outer space.

"They gathered and discussed people’s ideas while living in different circumstances with fewer resources, but they were united by the same spirit and extensive efforts that aimed for the summit.

“Their mission made history and redefined the concept of modern societies. Today, we revive the mission of the UAE’s Founders.

"Today, we begin our mission to prepare for the next 50 years that lead up to the UAE’s centennial.

“Our duty is to design the UAE of the future for the next generations and to involve our people in this mission, just like our Founders did.

"We invite citizens and residents to join us in shaping the future of the UAE.”

Ministers will meet representatives of the public to understand their suggestions.

The project will also bring public and private companies together to generate and discuss ideas with the public.

It will be overseen by the 50-year development plan committee, led by Sheikh Mansour bin Zayed, Deputy Prime Minister and Minister of Presidential Affairs.

The committee is charged with ensuring the country’s continued success up to its centenary in 2071.

The UAE aims to reduce its dependence on oil revenues and become a knowledge-based economy by developing key sectors.

A report by the Federal Competitiveness and Statistics Authority said that the UAE ranked first globally on 121 parameters, first in the Arab world on 479 competitive indicators, and among the top 10 countries in 314 indicators.

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Director: Raed Zeno

Rating: 4/5

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How to apply for a drone permit
  • Individuals must register on UAE Drone app or website using their UAE Pass
  • Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
  • Upload the training certificate from a centre accredited by the GCAA
  • Submit their request
What are the regulations?
  • Fly it within visual line of sight
  • Never over populated areas
  • Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
  • Users must avoid flying over restricted areas listed on the UAE Drone app
  • Only fly the drone during the day, and never at night
  • Should have a live feed of the drone flight
  • Drones must weigh 5 kg or less
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Rating: 4.5/5

The bio

Job: Coder, website designer and chief executive, Trinet solutions

School: Year 8 pupil at Elite English School in Abu Hail, Deira

Role Models: Mark Zuckerberg and Elon Musk

Dream City: San Francisco

Hometown: Dubai

City of birth: Thiruvilla, Kerala

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MATCH INFO

Liverpool 2 (Van Dijk 18', 24')

Brighton 1 (Dunk 79')

Red card: Alisson (Liverpool)

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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