Kuwait on Friday celebrated its 61st National Day with special events and activities across the country.
Government buildings and private institutions were illuminated with the colours of the Kuwaiti flag on Thursday night as families strolled the markets to enjoy the celebrations.
The national day marks the ascension of Sheikh Abdallah Al Salem Al Sabah to the throne in 1950. Considered by many to be the founder of modern Kuwait, he died in 1965.
Kuwait was under the protection of the United Kingdom from 1899 until 1961 when Sheikh Abdallah negotiated the complete independence of his country and issued the first constitution, which granted his country full sovereignty in all of its territories. Kuwait observes the day after National Day, February 26, as Liberation Day, which is also a public holiday.
Since the early morning hours, streets of the capital, Kuwait City, were crowded with residents and citizens celebrating in traditional clothes.
Restaurants and cafes offered all sorts of delicacies adorned with the flag and national symbols of the small, oil-rich country.
The defence and interior ministries organised a special event for children and their families around the landmark Kuwait Towers.
Kuwaitis flock abroad
Kuwait announced a nine-day holiday for National Day this year, starting today and running until next Saturday, which encouraged thousands of Kuwaitis to travel abroad after two years of restrictions because of the Covid-19 pandemic.
About 242,000 travelled through Kuwait airport on Thursday, and 663,000 in total during the past 12 days, local media reported.
“There are no central celebrations this year,” Ayman, 59, told The National from Kuwait City.
“Before the pandemic, celebrations would start on January 29 with the prince raising the flag and Hala February festival events kicking off across the country. But this year the celebrations were muted and rather individual and limited,” he said.
He said that during his childhood, all schools, universities and institutions would participate with special costumes in a parade from Kuwait Towers to the capital's waterfront.
“The young generation, unfortunately, doesn’t know this kind of collective celebrations when all the nation would be taking part in independence day activities,” he said. "Kuwaitis now prefer to go abroad to celebrate the holidays."
Artists said changing times meant that concerts and shows were no longer the centrepiece of celebrations throughout the month of February.
“Kuwait as a nation has unfortunately abandoned in a shocking way its role as a sensor for renovation and creativity and entertainment, as a result many of the festivities and celebrations that were artistic highlights in the year’s calendar have slowly been eliminated over time,” Sulayman Al-Bassam, a prominent Kuwaiti playwright and theatre director, told The National.
“The country is left without the vocabulary of joy and national pride that is the natural consequence of the abandonment of a national cultural project,” he said.
Independence gained a more significant meaning in Kuwait after the invasion by Iraq in August 1990.
A US-led coalition expelled the Iraqi forces the following year on February 26, which Kuwait declared a national holiday to honour the thousands of Kuwaitis who were killed or went missing during the invasion.
World leaders congratulate Kuwait
Kuwait Emir Sheikh Nawwaf Al Sabah received cables and messages from fellow Gulf Co-operation Council and world leaders on the national and liberation days.
“We congratulate the leaders and people of Kuwait on their glorious national day,” Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, said on Thursday.
Saudi Arabia's Crown Prince Mohammed bin Salman sent a cable of congratulation to Sheikh Nawaf.
He wished the emir good health and happiness and the government and people of Kuwait steady progress and prosperity, according to the Saudi state news agency.
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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
Top investing tips for UAE residents in 2021
Build an emergency fund: Make sure you have enough cash to cover six months of expenses as a buffer against unexpected problems before you begin investing, advises Steve Cronin, the founder of DeadSimpleSaving.com.
Think long-term: When you invest, you need to have a long-term mindset, so don’t worry about momentary ups and downs in the stock market.
Invest worldwide: Diversify your investments globally, ideally by way of a global stock index fund.
Is your money tied up: Avoid anything where you cannot get your money back in full within a month at any time without any penalty.
Skip past the promises: “If an investment product is offering more than 10 per cent return per year, it is either extremely risky or a scam,” Mr Cronin says.
Choose plans with low fees: Make sure that any funds you buy do not charge more than 1 per cent in fees, Mr Cronin says. “If you invest by yourself, you can easily stay below this figure.” Managed funds and commissionable investments often come with higher fees.
Be sceptical about recommendations: If someone suggests an investment to you, ask if they stand to gain, advises Mr Cronin. “If they are receiving commission, they are unlikely to recommend an investment that’s best for you.”
Get financially independent: Mr Cronin advises UAE residents to pursue financial independence. Start with a Google search and improve your knowledge via expat investing websites or Facebook groups such as SimplyFI.
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UAE currency: the story behind the money in your pockets
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
Ticket prices
General admission Dh295 (under-three free)
Buy a four-person Family & Friends ticket and pay for only three tickets, so the fourth family member is free
Buy tickets at: wbworldabudhabi.com/en/tickets
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Dubai World Cup draw
1. Gunnevera
2. Capezzano
3. North America
4. Audible
5. Seeking The Soul
6. Pavel
7. Gronkowski
8. Axelrod
9. New Trails
10. Yoshida
11. K T Brave
12. Thunder Snow
13. Dolkong
Sreesanth's India bowling career
Tests 27, Wickets 87, Average 37.59, Best 5-40
ODIs 53, Wickets 75, Average 33.44, Best 6-55
T20Is 10, Wickets 7, Average 41.14, Best 2-12
More on Yemen's civil war
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