• People at a train station in the South Korean capital Seoul watch on television North Korea's missile launch, on September 29, 2021. AP Photo
    People at a train station in the South Korean capital Seoul watch on television North Korea's missile launch, on September 29, 2021. AP Photo
  • Delegates from North Korea's Supreme People's Assembly visit the statues of North Korea founder Kim Il-sung and late leader Kim Jong-il in Pyongyang. Reuters
    Delegates from North Korea's Supreme People's Assembly visit the statues of North Korea founder Kim Il-sung and late leader Kim Jong-il in Pyongyang. Reuters
  • Submarine-launched ballistic missiles are displayed during a military parade to mark the 8th Congress of the ruling Workers' Party of Korea, in Pyongyang. AFP
    Submarine-launched ballistic missiles are displayed during a military parade to mark the 8th Congress of the ruling Workers' Party of Korea, in Pyongyang. AFP
  • North Korean leader Kim Jong-un celebrates the test-firing of a 'newly developed super-large multiple rocket launcher' at an undisclosed location. AFP
    North Korean leader Kim Jong-un celebrates the test-firing of a 'newly developed super-large multiple rocket launcher' at an undisclosed location. AFP
  • North Korean leader Kim Jong-un attends a military parade to mark the 70th anniversary of the Korean People's Army on February 8 at Kim Il-sung square in Pyongyang. AFP
    North Korean leader Kim Jong-un attends a military parade to mark the 70th anniversary of the Korean People's Army on February 8 at Kim Il-sung square in Pyongyang. AFP
  • Hwasong-12 ballistic missiles on show during the military parade on February 8 to mark the 70th anniversary of the Korean People's Army, in Pyongyang. AFP
    Hwasong-12 ballistic missiles on show during the military parade on February 8 to mark the 70th anniversary of the Korean People's Army, in Pyongyang. AFP
  • A South Korean soldier walks along a military fence near the demilitarised zone separating the two Koreas, in Paju, South Korea. Reuters
    A South Korean soldier walks along a military fence near the demilitarised zone separating the two Koreas, in Paju, South Korea. Reuters
  • South Korea's new 3,000-tonne homegrown submarine, Shin Chae-ho, in south-east city of Ulsan. EPA
    South Korea's new 3,000-tonne homegrown submarine, Shin Chae-ho, in south-east city of Ulsan. EPA
  • North Korean leader Kim Jong-un, left, met South Korean President Moon Jae-in over the military demarcation line in the demilitarised zone separating the two Koreas, in April 2018. AP
    North Korean leader Kim Jong-un, left, met South Korean President Moon Jae-in over the military demarcation line in the demilitarised zone separating the two Koreas, in April 2018. AP

North Korea says it has tested hypersonic missile


Robert Tollast
  • English
  • Arabic

North Korea has claimed that a missile tested on Tuesday was a hypersonic weapon, a development which has been condemned by regional governments amid fears of an escalating arms race in East Asia.

Hypersonic weapons can reach least five times the speed of sound – 6,200 kilometres an hour.

The North's HGV technology is not comparable to those of the US, Russia or China
Chang Young-keun,
missile specialist

China, Russia and the US are investing billions of dollars in developing the weapons.

These are often missiles but also gun-fired projectiles and winged “glide vehicles,” which are designed to hit targets hundreds or even thousands of kilometres away.

Their speed denies the enemy valuable response time and makes the weapons difficult to shoot down.

South Korea's Defence Ministry released a statement on Tuesday condemning the launch as “regrettable for happening at a time when political stability on the Korean peninsula is very critical.”

On Wednesday, North Korea said their Hwasong-8 missile test was successful, displaying “the guiding manoeuvrability and the gliding flight characteristics of the detached hypersonic gliding warhead".

The South Korean military later released a brief assessment of the missile's performance, claiming that the weapon was only half way to hypersonic at mach 2.5, or two and a half times the speed of sound (3,087 kilometres per hour).

North Korean ambassador to the UN Kim Song previously hinted that weapons development would continue as a “deterrent” to what he called, “the possible outbreak of a new war on the Korean Peninsula”.

“[War] is contained not because of the US’s mercy on the DPRK, it is because our state is growing a reliable deterrent that can control the hostile forces in an attempted military invasion,” he told the UN General Assembly on Tuesday, referring to the Democratic People’s Republic of Korea, the official name for North Korea.

Chang Young-keun, a missile specialist at the Korea Aerospace University, in Goyang, South Korea, said the North's test weapon was likely unsuccessful, citing the missile's reported mach 2.5 performance.

“The North's HGV technology is not comparable to those of the US, Russia or China and for now seems to aim for short-range that can target South Korea or Japan,” Mr Chang said.

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

Cricket World Cup League Two

Oman, UAE, Namibia

Al Amerat, Muscat

 

Results

Oman beat UAE by five wickets

UAE beat Namibia by eight runs

 

Fixtures

Wednesday January 8 –Oman v Namibia

Thursday January 9 – Oman v UAE

Saturday January 11 – UAE v Namibia

Sunday January 12 – Oman v Namibia

THE%20HOLDOVERS
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The National's picks

4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young

Jetour T1 specs

Engine: 2-litre turbocharged

Power: 254hp

Torque: 390Nm

Price: From Dh126,000

Available: Now

Pathaan
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THREE POSSIBLE REPLACEMENTS

Khalfan Mubarak
The Al Jazira playmaker has for some time been tipped for stardom within UAE football, with Quique Sanchez Flores, his former manager at Al Ahli, once labelling him a “genius”. He was only 17. Now 23, Mubarak has developed into a crafty supplier of chances, evidenced by his seven assists in six league matches this season. Still to display his class at international level, though.

Rayan Yaslam
The Al Ain attacking midfielder has become a regular starter for his club in the past 15 months. Yaslam, 23, is a tidy and intelligent player, technically proficient with an eye for opening up defences. Developed while alongside Abdulrahman in the Al Ain first-team and has progressed well since manager Zoran Mamic’s arrival. However, made his UAE debut only last December.

Ismail Matar
The Al Wahda forward is revered by teammates and a key contributor to the squad. At 35, his best days are behind him, but Matar is incredibly experienced and an example to his colleagues. His ability to cope with tournament football is a concern, though, despite Matar beginning the season well. Not a like-for-like replacement, although the system could be adjusted to suit.

Company%20profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3EHakbah%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2018%0D%3Cbr%3E%3Cstrong%3EFounder%3A%20%3C%2Fstrong%3ENaif%20AbuSaida%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3ESaudi%20Arabia%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%0D%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%20%3C%2Fstrong%3E22%20%0D%3Cbr%3E%3Cstrong%3EInitial%20investment%3A%20%3C%2Fstrong%3E%24200%2C000%0D%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3Epre-Series%20A%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EGlobal%20Ventures%20and%20Aditum%20Investment%20Management%0D%3Cbr%3E%3Cbr%3E%3C%2Fp%3E%0A
HIJRA

Starring: Lamar Faden, Khairiah Nathmy, Nawaf Al-Dhufairy

Director: Shahad Ameen

Rating: 3/5

Pad Man

Dir: R Balki

Starring: Akshay Kumar, Sonam Kapoor, Radhika Apte

Three-and-a-half stars

I Care A Lot

Directed by: J Blakeson

Starring: Rosamund Pike, Peter Dinklage

3/5 stars

if you go
The five pillars of Islam

1. Fasting

2. Prayer

3. Hajj

4. Shahada

5. Zakat 

Bob Honey Who Just Do Stuff
By Sean Penn
Simon & Schuster

Updated: September 29, 2021, 4:41 AM