Libya's interim Prime Minister Abdul Hamid Dbeibah called for closer co-operation with the UAE during his visit to Abu Dhabi.
Mr Dbeibah was received at Qasr Al Hosn on Wednesday by Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces.
During the meeting, Sheikh Mohamed said the two countries had long-standing relations and the UAE was looking forward to further growing ties with Libya.
"It was an honour to meet our brother Abdul Hamid Dbeibah, Prime Minister of Libya’s Government of National Unity. Libya will overcome its challenges and we stand at the side of the Libyan people at this critical moment. The new road map will hopefully lead to stability and unity," Sheikh Mohamed tweeted.
He was briefed by the Libyan prime minister on the latest developments in his country and efforts being made during the transitional period to restore security and stability, the UAE news agency Wam reported.
Libya's government is pressing ahead with the development and reconstruction process while preparing for elections, Mr Dbeibah said.
Sheikh Mohamed congratulated Mr Dbeibah and his government on winning the confidence of the Libyan House of Representatives. He wished the Libyan leader success in carrying out his national mission during this critical period.
The Libyan people were looking forward to a new era of stability and national unity after years of conflict, Sheikh Mohamed said.
The two sides explored the prospects of cooperation in security, economic growth and investments, Wam reported. They also discussed various issues of common interest.
Sheikh Mohamed renewed his support for the interim government in Libya and its endeavours to establish peace and stability. He wished the Libyan people all success in fulfilling their aspirations for stability, peace and prosperity.
Mr Dbeibah said Libya was looking forward to growing its relationship with the UAE and to establishing partnerships across various domains, including development, investment, the economy and security, Wam reported. He said Libya was keen to learn from the UAE's success story.
The interim prime minister urged a unified international stance towards Libya based on ensuring the country's common interest in a way that reinforces the prospects of stability and security and guarantees Libya's sovereignty over all its territories.
Also present at the meeting were Sheikh Mansour bin Zayed, Deputy Prime Minister and Minister of Presidential Affairs, Sheikh Shakhbout bin Nahyan, Minister of State, Dr Anwar Gargash, Diplomatic Adviser to the President Sheikh Khalifa, Ali bin Hammad Al Shamsi, Deputy Secretary General of the Supreme Council for National Security, and Mohamed Mubarak Al Mazrouei, the Undersecretary of the Crown Prince Court of Abu Dhabi, along with a number of officials in the Libyan government.
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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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Key figures in the life of the fort
Sheikh Dhiyab bin Isa (ruled 1761-1793) Built Qasr Al Hosn as a watchtower to guard over the only freshwater well on Abu Dhabi island.
Sheikh Shakhbut bin Dhiyab (ruled 1793-1816) Expanded the tower into a small fort and transferred his ruling place of residence from Liwa Oasis to the fort on the island.
Sheikh Tahnoon bin Shakhbut (ruled 1818-1833) Expanded Qasr Al Hosn further as Abu Dhabi grew from a small village of palm huts to a town of more than 5,000 inhabitants.
Sheikh Khalifa bin Shakhbut (ruled 1833-1845) Repaired and fortified the fort.
Sheikh Saeed bin Tahnoon (ruled 1845-1855) Turned Qasr Al Hosn into a strong two-storied structure.
Sheikh Zayed bin Khalifa (ruled 1855-1909) Expanded Qasr Al Hosn further to reflect the emirate's increasing prominence.
Sheikh Shakhbut bin Sultan (ruled 1928-1966) Renovated and enlarged Qasr Al Hosn, adding a decorative arch and two new villas.
Sheikh Zayed bin Sultan (ruled 1966-2004) Moved the royal residence to Al Manhal palace and kept his diwan at Qasr Al Hosn.
Sources: Jayanti Maitra, www.adach.ae
Our legal consultant
Name: Dr Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
