SHARJAH // Fourteen warehouses were destroyed or damaged after a huge blaze tore through an industrial area in Sharjah on Monday.
The fire broke out about noon in a garden furniture warehouse on Maliha Road, sending flames into the air and smoke billowing across a busy nearby motorway.
Motorists saw smoke pouring from the site close to the National Paints factory, a local landmark.
More than 50 firefighters arrived at the scene but the blaze took more than three hours to bring under control. Crews from Dubai and Ajman were also called in.
Luqaman Mohammed, a Pakistani warehouse worker, was among the crowd that gathered at the scene.
He said that fortunately he and his colleagues were off on Monday for the Eid holiday.
“I reached here about 12.30pm and it seemed the fire had started in the back area of the warehouse,” Mr Mohammed said.
“The warehouse is for garden furniture, so the fire spread quickly.
“Strong winds and hot weather helped the flames to spread, gutting more than 10 warehouses. Many of the materials inside were flammable.”
The owner of the warehouse, a Syrian who asked not to be identified, was also at the scene but said it was too early to know what caused the blaze.
“The hot weather made it a bit difficult to control the fire,” said Lt Col Saeed Al Suwaidi, director of Sharjah Civil Defence.
“However, more than five fire stations from Sharjah, Dubai and Ajman attended and worked to control the fire.
Lt Col Al Suwaidi confirmed that 14 warehouses were damaged by the fire.
But he said that no casualties had been reported.
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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
