US Secretary of Defence Lloyd Austin welcomes Israeli Minister of Defence Benny Gantz during an enhanced honour cordon ceremony at the Pentagon. Getty Images / AFP
US Secretary of Defence Lloyd Austin welcomes Israeli Minister of Defence Benny Gantz during an enhanced honour cordon ceremony at the Pentagon. Getty Images / AFP
US Secretary of Defence Lloyd Austin welcomes Israeli Minister of Defence Benny Gantz during an enhanced honour cordon ceremony at the Pentagon. Getty Images / AFP
US Secretary of Defence Lloyd Austin welcomes Israeli Minister of Defence Benny Gantz during an enhanced honour cordon ceremony at the Pentagon. Getty Images / AFP

US and Israeli defence heads meet in Washington


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US Secretary of Defence Lloyd Austin has met Israeli Defence Minister Benjamin “Benny” Gantz to reaffirm the US commitment to Israel’s security and qualitative military edge.

The meeting comes as nuclear talks with Iran got off to a rough start in Vienna — with negotiators openly voicing frustration and pessimism over Tehran's commitment to returning to compliance with the deal.

During the meeting, Mr Austin said: “We are completely aligned in our commitment to preventing Iran from obtaining a nuclear weapon. This is a national security interest of the United States and Israel and the world".

He added President Joe Biden has made it clear that if current diplomacy fails, the US is “prepared to turn to other options".

Mr Gantz also expressed his deep concern and stated the goal of strengthening military readiness to stop Tehran's regional aggression and nuclear aspirations. Mr Austin reconfirmed US resolve to prevent Iran from obtaining a nuclear weapon.

The Israeli official described Iran as “the biggest threat to global and regional peace and stability”.

Iran denies trying to develop a nuclear weapon, saying its programme has peaceful aims.

But sweeping demands by Iran's new hard-line government during the talks have heightened suspicions in the West that Tehran is playing for time while advancing its nuclear programme.

In addition to Iran's nuclear aspirations, Mr Austin and Mr Gantz discussed shared concerns regarding the country's support for terrorism as well as its missile programme, the Department of Defence said.

“The international community, with US leadership, has an opportunity to act against Iran’s hegemonic aspirations, restore stability and prevent the oppression of nations across the region,” Mr Austin said.

Both leaders also stressed the advantages of the Abraham Accords and agreed to keep the lines of communication open regarding defence co-operation between the two countries to support regional security objectives.

Mr Austin emphasised Mr Biden’s desire for a two-state solution to the Palestinian-Israeli conflict as well as the need for both sides to refrain from unilateral steps that exacerbate tension, including increasing settlement activity.

The Associated Press contributed to this report

Israeli Minister of Defence Benny Gantz met with US Secretary of Defence Lloyd Austin at the Pentagon in Washington on Thursday and was greeted with a bespoke cookie. AFP
Israeli Minister of Defence Benny Gantz met with US Secretary of Defence Lloyd Austin at the Pentagon in Washington on Thursday and was greeted with a bespoke cookie. AFP
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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

The Buckingham Murders

Starring: Kareena Kapoor Khan, Ash Tandon, Prabhleen Sandhu

Director: Hansal Mehta

Rating: 4 / 5

The UN General Assembly President in quotes:

YEMEN: “The developments we have seen are promising. We really hope that the parties are going to respect the agreed ceasefire. I think that the sense of really having the political will to have a peace process is vital. There is a little bit of hope and the role that the UN has played is very important.”

PALESTINE: “There is no easy fix. We need to find the political will and comply with the resolutions that we have agreed upon.”

OMAN: “It is a very important country in our system. They have a very important role to play in terms of the balance and peace process of that particular part of the world, in that their position is neutral. That is why it is very important to have a dialogue with the Omani authorities.”

REFORM OF THE SECURITY COUNCIL: “This is complicated and it requires time. It is dependent on the effort that members want to put into the process. It is a process that has been going on for 25 years. That process is slow but the issue is huge. I really hope we will see some progress during my tenure.”

British Grand Prix free practice times in the third and final session at Silverstone on Saturday (top five):

1. Lewis Hamilton (GBR/Mercedes) 1:28.063 (18 laps)

2. Sebastian Vettel (GER/Ferrari) 1:28.095 (14)

3. Valtteri Bottas (FIN/Mercedes) 1:28.137 (20)

4. Kimi Raikkonen (FIN/Ferrari) 1:28.732 (15)

5. Nico Hulkenberg (GER/Renault)  1:29.480 (14)

The biog

Name: Abeer Al Bah

Born: 1972

Husband: Emirati lawyer Salem Bin Sahoo, since 1992

Children: Soud, born 1993, lawyer; Obaid, born 1994, deceased; four other boys and one girl, three months old

Education: BA in Elementary Education, worked for five years in a Dubai school

 

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Moon Music

Artist: Coldplay

Label: Parlophone/Atlantic

Number of tracks: 10

Rating: 3/5

Islamophobia definition

A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.

VEZEETA PROFILE

Date started: 2012

Founder: Amir Barsoum

Based: Dubai, UAE

Sector: HealthTech / MedTech

Size: 300 employees

Funding: $22.6 million (as of September 2018)

Investors: Technology Development Fund, Silicon Badia, Beco Capital, Vostok New Ventures, Endeavour Catalyst, Crescent Enterprises’ CE-Ventures, Saudi Technology Ventures and IFC

COMPANY PROFILE

Name: Lamsa

Founder: Badr Ward

Launched: 2014

Employees: 60

Based: Abu Dhabi

Sector: EdTech

Funding to date: $15 million

Updated: December 10, 2021, 5:45 PM