When Bassem Itani won more than Dh100,000 in the Emirates Loto in July he had grands plans for how to spend his fortune.
But when a huge explosion tore through Beirut last month, the father-of-two knew he had an opportunity to bring hope out of tragedy.
He swiftly turned his attention to family members caught up in the devastating blast which left scores of people dead and thousands more injured.
“I didn’t think twice about helping my family in Lebanon when disaster struck last month,” said the 55-year-old architect.
“The devastation that was caused is still so upsetting to see; like many in this region who have sent relief home, I hope my support goes far in helping my family to rebuild their lives.”
Mr Itani, who holds Canadian citizenship, has been living in the UAE for 17 years.
As well as allocating some of his winnings to support relief efforts in Lebanon, he will use part of his Dh111,111 cash prize to pay for his children's school and college fees.
“Maybe if I’d have won Emirates Loto at a time when there wasn’t a pandemic causing such disruption, I could have taken a world tour.
“I guess my own savings and plans can wait. Family will always come first.”
Nonetheless, Mr Itani said he plans to continue playing with Emirates Loto and hopefully make win more draws in the future.
“Emirates Loto has been really good to me,” he said. “I plan to keep playing when the draws return and if I ever win again I will continue to be good to the world in the same way the world has been good to me.”
Emirates Loto is a weekly digital draw that was launched in April, but has been suspended since July on order for a system upgrade to be completed. It is expected to relaunch soon.
The Emirates Loto is a fatwa-approved, collectable scheme with the option to enter a weekly live draw.
People can buy the collectable cards and then decide whether they wish to enter the draw free of charge. Customers can also choose not to receive the card and donate a portion of the purchase price to charity.
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