• Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, welcomes then US Vice President Joe Biden at Zabeel Palace in March 2016. Kamran Jebreili / AP Photo
    Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, welcomes then US Vice President Joe Biden at Zabeel Palace in March 2016. Kamran Jebreili / AP Photo
  • Mr Biden speaks during a conference with young Emirati entrepreneurs in Dubai in 2016. Kamran Jebreili / AP Photo
    Mr Biden speaks during a conference with young Emirati entrepreneurs in Dubai in 2016. Kamran Jebreili / AP Photo
  • Mr Biden arrives with his wife Jill Biden in the UAE. Ali Haider / EPA
    Mr Biden arrives with his wife Jill Biden in the UAE. Ali Haider / EPA
  • Mr and Mrs Biden are welcomed by Reem Al Hashimi, Minister of State for International Co-operation and Managing Director for the Dubai World Expo 2020 Bid Committee. Ali Haider / EPA
    Mr and Mrs Biden are welcomed by Reem Al Hashimi, Minister of State for International Co-operation and Managing Director for the Dubai World Expo 2020 Bid Committee. Ali Haider / EPA
  • Mr Biden with Sheikh Mohammed. Image: Twitter
    Mr Biden with Sheikh Mohammed. Image: Twitter
  • Mr Biden with Sheikh Mohammed. Image: Twitter
    Mr Biden with Sheikh Mohammed. Image: Twitter
  • Sheikh Mohammed and then US Vice President Joe Biden in Dubai. Government of Dubai Media Office via Reuters
    Sheikh Mohammed and then US Vice President Joe Biden in Dubai. Government of Dubai Media Office via Reuters

UAE

UAE rulers congratulate Biden and Harris on US elections win

Leaders look forward to strengthening of relations with the United States

The National

November 08, 2020

  • English
  • Arabic

The UAE looks forward to strengthening its relations with the United States as the country's rulers, lead by President Sheikh Khalifa, offered their congratulations to Joe Biden and Kamala Harris for their US elections win.

"Congratulations to the President-Elect of the United States and Vice President-Elect ... We look forward to strengthening our five-decade enduring and strategic relations," Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, said on Saturday, shortly after the announcement of the long-awaited election results.

"Our sincere wishes for further development and prosperity for the American people. The UAE and USA are friends and allies with a strong historic partnership that we look forward to strengthening together," said Sheikh Mohammed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces.

Other leaders from around the region also sent their best wishes.

Egypt’s President Abdel Fattah El Sisi congratulated Mr Biden, presidential spokesman Bassam Radi said in a statement.

“The President stressed the aspiration for cooperation and joint action to strengthen the strategic bilateral relations between Egypt and the United States, in the interest of the two friendly countries and peoples,” the statement added.

Iraq's President Barham Salih said Mr Biden is "a friend and trusted partner" and that he looked forward to working together with him to build a better Iraq and more peaceful and stable Middle East.

Oman’s Sultan Haitham Bin Tarik also offered his "sincere congratulations" to Mr Biden.

Jordan's King Abdullah II also sent his best wishes to Mr Biden and Ms Harris, saying he looked forward to advancing the "shared objectives of peace, stability and prosperity".

President Michel Aoun of Lebanon also congratulated Mr Biden on Saturday.

On Women's Day
Match info:

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While you're here
While you're here
Chatham House Rule

A mark of Chatham House’s influence 100 years on since its founding,  was Moscow’s formal declaration last month that it was an “undesirable
organisation”. 

 

The depth of knowledge and academics that it drew on
following the Ukraine invasion had broadcast Mr Putin’s chicanery.  

 

The institute is more used to accommodating world leaders,
with Nelson Mandela, Margaret Thatcher among those helping it provide
authoritative commentary on world events. 

 

Chatham House was formally founded as the Royal Institute of
International Affairs following the peace conferences of World War One. Its
founder, Lionel Curtis, wanted a more scientific examination of international affairs
with a transparent exchange of information and ideas.  

 

That arena of debate and analysis was enhanced by the “Chatham
House Rule” states that the contents of any meeting can be discussed outside Chatham
House but no mention can be made identifying individuals who commented.  

 

This has enabled some candid exchanges on difficult subjects
allowing a greater degree of free speech from high-ranking figures.  

 

These meetings are highly valued, so much so that
ambassadors reported them in secret diplomatic cables that – when they were
revealed in the Wikileaks reporting – were thus found to have broken the rule. However,
most speeches are held on the record.  

 

Its research and debate has offered fresh ideas to
policymakers enabling them to more coherently address troubling issues from climate
change to health and food security.   

 
TOP%2010%20MOST%20POLLUTED%20CITIES
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How much do leading UAE’s UK curriculum schools charge for Year 6?
  1. Nord Anglia International School (Dubai) – Dh85,032
  2. Kings School Al Barsha (Dubai) – Dh71,905
  3. Brighton College Abu Dhabi - Dh68,560
  4. Jumeirah English Speaking School (Dubai) – Dh59,728
  5. Gems Wellington International School – Dubai Branch – Dh58,488
  6. The British School Al Khubairat (Abu Dhabi) - Dh54,170
  7. Dubai English Speaking School – Dh51,269

*Annual tuition fees covering the 2024/2025 academic year

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Tomorrow 2021
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

Living in...

This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.

COMPANY PROFILE
Name: Mamo 

 Year it started: 2019 Founders: Imad Gharazeddine, Asim Janjua

 Based: Dubai, UAE

 Number of employees: 28

 Sector: Financial services

 Investment: $9.5m

 Funding stage: Pre-Series A Investors: Global Ventures, GFC, 4DX Ventures, AlRajhi Partners, Olive Tree Capital, and prominent Silicon Valley investors. 

 

Name: Peter Dicce

Title: Assistant dean of students and director of athletics

Favourite sport: soccer

Favourite team: Bayern Munich

Favourite player: Franz Beckenbauer

Favourite activity in Abu Dhabi: scuba diving in the Northern Emirates 

 

Terror attacks in Paris, November 13, 2015

- At 9.16pm, three suicide attackers killed one person outside the Atade de France during a foootball match between France and Germany- At 9.25pm, three attackers opened fire on restaurants and cafes over 20 minutes, killing 39 people- Shortly after 9.40pm, three other attackers launched a three-hour raid on the Bataclan, in which 1,500 people had gathered to watch a rock concert. In total, 90 people were killed- Salah Abdeslam, the only survivor of the terrorists, did not directly participate in the attacks, thought to be due to a technical glitch in his suicide vest- He fled to Belgium and was involved in attacks on Brussels in March 2016. He is serving a life sentence in France

 

 

UAE