Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai described Expo 2020 Dubai as 100% ready. Courtesy, WAM
Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai described Expo 2020 Dubai as 100% ready. Courtesy, WAM
Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai described Expo 2020 Dubai as 100% ready. Courtesy, WAM
Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai described Expo 2020 Dubai as 100% ready. Courtesy, WAM

Government

Sheikh Mohammed: UAE 100 per cent ready for Expo 2020 Dubai

Sheikh Mohammed said 72 teams have taken part in a successful drill to simulate the Expo event ahead of its opening in October

The National

April 14, 2021

  • English
  • Arabic

The UAE is fully ready to host the Expo 2020 Dubai this year, Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, said in a brief statement on social media.

Preparations for the six-month event have been gradually building this year, with more than 100,000 visitors getting an early glimpse of Terra - the Sustainability Pavilion during a three-month showcase for residents.

The event itself will open to the public on October 1 and is expected to attract millions of visitors from more than 190 nations over six months.

Sheikh Mohammed said the event is ready to receive visitors.

"As part of the preparations for Expo 2020, 72 working teams from federal and local authorities completed a joint strategic exercise to simulate Expo in October. We can say that the UAE is 100 per cent prepared for the largest cultural event in the world," he wrote on Twitter.

His comments came as Dubai Police General HQ and Expo 2020 Dubai Office carried out a large drill to test their response to emergencies on Monday.

The exercise, which included the participation of 72 teams from various local and federal security sectors, focused on the force’s rapid response capabilities.

It was attended by Deputy Prime Minister and Minister of Interior Sheikh Saif bin Zayed, and Reem Al Hashemy, Minister of State for International Cooperation and director-general of the Expo 2020 Dubai Office.

Sheikh Saif thanked the participants for their efforts and said the drills are "aimed at leveraging team performance and boosting their emergency response".

Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, recently visited the site to inspect its progress.

Sheikh Hamdan said Expo 2020 is set to be “the most exceptional edition of the show in the mega global event’s 168-year history".

“Thanks to the directives of our wise leadership and their diligent follow-up on the event with great precision, we aim to dazzle the world through this international platform, displaying the world’s culture, heritage, history and top innovations,” he added.

Sheikh Hamdan tours Expo 2020 site - in pictures

  • Sheikh Hamdan bin Mohammed touring the Expo 2020 site. Courtesy, WAM
    Sheikh Hamdan bin Mohammed touring the Expo 2020 site. Courtesy, WAM
  • Sheikh Hamdan bin Mohammed visited the Expo 2020 site. Courtesy, WAM
    Sheikh Hamdan bin Mohammed visited the Expo 2020 site. Courtesy, WAM
  • Sheikh Hamdan bin Mohammed snapped a few pictures in Al Wasl Plaza, the Expo’s central hub. Courtesy, WAM
    Sheikh Hamdan bin Mohammed snapped a few pictures in Al Wasl Plaza, the Expo’s central hub. Courtesy, WAM
  • Marjan Faraidooni, Chief Experience Officer of Expo 2020 Dubai, briefed Sheikh Hamdan bin Mohammed on the event as they toured the Expo 2020 site. Courtesy, WAM
    Marjan Faraidooni, Chief Experience Officer of Expo 2020 Dubai, briefed Sheikh Hamdan bin Mohammed on the event as they toured the Expo 2020 site. Courtesy, WAM
  • Sheikh Hamdan bin Mohammed admiring one of the displays inside Terra - the Sustainability Pavilion on his tour of the Expo 2020 site. Courtesy, WAM
    Sheikh Hamdan bin Mohammed admiring one of the displays inside Terra - the Sustainability Pavilion on his tour of the Expo 2020 site. Courtesy, WAM
  • Sheikh Hamdan bin Mohammed touring the Terra - Sustainabilitiy Pavilion at the Expo 2020 site. Courtesy, WAM
    Sheikh Hamdan bin Mohammed touring the Terra - Sustainabilitiy Pavilion at the Expo 2020 site. Courtesy, WAM
  • Sheikh Hamdan bin Mohammed touring Terra - the Sustainability Pavilion at the Expo 2020 site. Courtesy, WAM
    Sheikh Hamdan bin Mohammed touring Terra - the Sustainability Pavilion at the Expo 2020 site. Courtesy, WAM
  • Sheikh Hamdan bin Mohammed touring Terra - the Sustainability Pavilion at the Expo 2020 site. Courtesy, WAM
    Sheikh Hamdan bin Mohammed touring Terra - the Sustainability Pavilion at the Expo 2020 site. Courtesy, WAM
  • Sheikh Hamdan bin Mohammed touring Terra - the Sustainability Pavilion at the Expo 2020 site. Courtesy, WAM
    Sheikh Hamdan bin Mohammed touring Terra - the Sustainability Pavilion at the Expo 2020 site. Courtesy, WAM
  • Terra - the Sustainability Pavilion at Expo 2020. Courtesy, WAM
    Terra - the Sustainability Pavilion at Expo 2020. Courtesy, WAM
  • Terra - the Sustainability Pavilion at the Expo 2020 site. Courtesy, WAM
    Terra - the Sustainability Pavilion at the Expo 2020 site. Courtesy, WAM
  • Terra - the Sustainability Pavilion at the Expo 2020 site. Courtesy, WAM
    Terra - the Sustainability Pavilion at the Expo 2020 site. Courtesy, WAM
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Blockchain is a form of distributed ledger technology, a digital system in which data is recorded across multiple places at the same time. Unlike traditional databases, DLTs have no central administrator or centralised data storage. They are transparent because the data is visible and, because they are automatically replicated and impossible to be tampered with, they are secure.

The main difference between blockchain and other forms of DLT is the way data is stored as ‘blocks’ – new transactions are added to the existing ‘chain’ of past transactions, hence the name ‘blockchain’. It is impossible to delete or modify information on the chain due to the replication of blocks across various locations.

Blockchain is mostly associated with cryptocurrency Bitcoin. Due to the inability to tamper with transactions, advocates say this makes the currency more secure and safer than traditional systems. It is maintained by a network of people referred to as ‘miners’, who receive rewards for solving complex mathematical equations that enable transactions to go through.

However, one of the major problems that has come to light has been the presence of illicit material buried in the Bitcoin blockchain, linking it to the dark web.

Other blockchain platforms can offer things like smart contracts, which are automatically implemented when specific conditions from all interested parties are reached, cutting the time involved and the risk of mistakes. Another use could be storing medical records, as patients can be confident their information cannot be changed. The technology can also be used in supply chains, voting and has the potential to used for storing property records.

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  • Level 1 has a valet service if you choose not to park in the basement level. This level houses all the kitchenware, including covetable brand French Bull, along with a wide array of outdoor furnishings, lamps and lighting solutions, textiles like curtains, towels, cushions and bedding, and plenty of other home accessories.
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Tamkeen's offering
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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

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