Sheikh Khalifa, the UAE President, has mourned the late Saudi King Abdullah who died before dawn on January 23. Mohamed Messara / EPA
Sheikh Khalifa, the UAE President, has mourned the late Saudi King Abdullah who died before dawn on January 23. Mohamed Messara / EPA
Sheikh Khalifa, the UAE President, has mourned the late Saudi King Abdullah who died before dawn on January 23. Mohamed Messara / EPA
Sheikh Khalifa, the UAE President, has mourned the late Saudi King Abdullah who died before dawn on January 23. Mohamed Messara / EPA

UAE President mourns Saudi King Abdullah


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ABU DHABI // The UAE’s President Sheikh Khalifa bin Zayed has mourned the death of the Custodian of the Two Holy Mosques, King Abdullah bin Abdulaziz of Saudi Arabia, who passed away before dawn on Friday.

He prayed to Allah to bless the soul of the late king with mercy in Paradise.

The president praised the late king for being dedicated to the service of his people and nation and his work on bolstering cohesion of the Arab Nation.

“We mourn the death of one of the most notable leaders of the Arab Nation and Muslim Nation who generously gave a lot to his people and his nation and sincerely defended the causes of the Arab Nation and the Muslim Nation,” Sheikh Khalifa said.

He emphasised that the death of the late king was a loss of a great figure who never hesitated to serve the causes of his nation.

“As we express our sincere condolences to the Saudi royal family and the people of the sisterly Kingdom of Saudi Arabia on the death of the great late king, Abdullah bin Abdulaziz Al Saud, we express our full confidence that King Salman bin Abdulaziz Al Saud and the Crown Prince Muqrin bin Abdulaziz Al Saud will continue his blessed march serving the causes of the nation and advance the Arab joint action,” Sheikh Khalifa said.

Sheikh Mohammed bin Rashid, Vice President of the UAE and the Ruler of Dubai, offered condolences for death of King Abdullah.

He tweeted: "With wisdom, commitment and generosity, and with dedication to the service of Islam and Muslims, King Abdullah conquered the hearts of his people and the hearts of Muslims. May he rest in peace and God's mercy be upon him."

Sheikh Khalifa has also ordered a three-day mourning, starting today, Friday, and that the UAE national flag be flown at half-mast at all government departments across the country and at all embassies and diplomatic missions of the UAE overseas.

* WAM

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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. 

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Tax authority targets shisha levy evasion

The Federal Tax Authority will track shisha imports with electronic markers to protect customers and ensure levies have been paid.

Khalid Ali Al Bustani, director of the tax authority, on Sunday said the move is to "prevent tax evasion and support the authority’s tax collection efforts".

The scheme’s first phase, which came into effect on 1st January, 2019, covers all types of imported and domestically produced and distributed cigarettes. As of May 1, importing any type of cigarettes without the digital marks will be prohibited.

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