• Chinese pianist Lang Lang plays a showcase surrounded by the peaks of Eiger, Moench and Jungfrau and the Aletsch glacier on the Jungfraujoch, Switzerland, Thursday, April 14, 2022. Lang Lang visited the Top of Europe and uncovered an ice statue in the ice cave. (Peter Klaunzer / Keystone via AP)
    Chinese pianist Lang Lang plays a showcase surrounded by the peaks of Eiger, Moench and Jungfrau and the Aletsch glacier on the Jungfraujoch, Switzerland, Thursday, April 14, 2022. Lang Lang visited the Top of Europe and uncovered an ice statue in the ice cave. (Peter Klaunzer / Keystone via AP)
  • A street march to celebrate the Bengali New Year or, 'Pohela Boishakh', in Dhaka, Bangladesh. AFP
    A street march to celebrate the Bengali New Year or, 'Pohela Boishakh', in Dhaka, Bangladesh. AFP
  • A herd of buffalo swim past a fishing boat in the Shatt al-Arab waterway north of Iraq's southern city of Basra. AFP
    A herd of buffalo swim past a fishing boat in the Shatt al-Arab waterway north of Iraq's southern city of Basra. AFP
  • Danyk Rak, 12, in the debris of his house, which was destroyed by Russian shelling in the outskirts of Chernihiv, Ukraine. Danyk's mother Liudmila Koval had to have her leg amputated after the attack in which she also suffered abdominal injuries. She is still waiting for proper medical treatment. AP
    Danyk Rak, 12, in the debris of his house, which was destroyed by Russian shelling in the outskirts of Chernihiv, Ukraine. Danyk's mother Liudmila Koval had to have her leg amputated after the attack in which she also suffered abdominal injuries. She is still waiting for proper medical treatment. AP
  • Heifers at PHR farm in Ashford, Kent. Inflation on farm running costs has risen steadily since the beginning of 2021 and, coupled with the war in Ukraine affecting the price of fertiliser and diesel, the cost of British milk is expected to rise by up to 50 per cent in the coming months. Getty Images
    Heifers at PHR farm in Ashford, Kent. Inflation on farm running costs has risen steadily since the beginning of 2021 and, coupled with the war in Ukraine affecting the price of fertiliser and diesel, the cost of British milk is expected to rise by up to 50 per cent in the coming months. Getty Images
  • A month-old male Sumatran elephant named 'Lanang' plays with his mother at Bali Zoo in Gianyar, Bali, Indonesia. Lanang is the first Sumatran elephant born in Bali Zoo. EPA
    A month-old male Sumatran elephant named 'Lanang' plays with his mother at Bali Zoo in Gianyar, Bali, Indonesia. Lanang is the first Sumatran elephant born in Bali Zoo. EPA
  • Residents try to collect clean water from a broken pipe on the side of a road in Amaoti, north of Durban. Victims of South Africa's worst flooding on record clamoured for relief as the death toll from the disaster that struck the coastal city of Durban surged past 300. AFP
    Residents try to collect clean water from a broken pipe on the side of a road in Amaoti, north of Durban. Victims of South Africa's worst flooding on record clamoured for relief as the death toll from the disaster that struck the coastal city of Durban surged past 300. AFP
  • Egyptians members of the Tanoura Dance Troupe perform during Ramadan at the Ghouri complex, in Islamic Cairo, Egypt. EPA
    Egyptians members of the Tanoura Dance Troupe perform during Ramadan at the Ghouri complex, in Islamic Cairo, Egypt. EPA
  • Shawadawa and Shanewa indigenous demonstrators protest against Brazil's President Jair Bolsonaro and a bill that will allow mining in indigenous territories if approved in congress. Brasilia, Brazil. Reuters
    Shawadawa and Shanewa indigenous demonstrators protest against Brazil's President Jair Bolsonaro and a bill that will allow mining in indigenous territories if approved in congress. Brasilia, Brazil. Reuters
  • Muslims break their fast at an open Iftar outside the Royal Albert Hall in London. Reuters
    Muslims break their fast at an open Iftar outside the Royal Albert Hall in London. Reuters
  • Members of the Venezuelan National Bolivarian Militia, a branch of the National Armed Forces created by the late president Hugo Chavez, celebrate the militia´s 13th anniversary, in Caracas, Venezuela. Government supporters are also commemorating the 20th anniversary of Chavez's return to power after a failed coup in 2002. AP
    Members of the Venezuelan National Bolivarian Militia, a branch of the National Armed Forces created by the late president Hugo Chavez, celebrate the militia´s 13th anniversary, in Caracas, Venezuela. Government supporters are also commemorating the 20th anniversary of Chavez's return to power after a failed coup in 2002. AP
  • US players Sebastian Korda and Taylor Fritz in action on day five of the Rolex Monte Carlo Masters in Monaco. Getty Images
    US players Sebastian Korda and Taylor Fritz in action on day five of the Rolex Monte Carlo Masters in Monaco. Getty Images
  • Latin clergymen in procession on Thursday during the Catholic Washing of the Feet ceremony in Easter holy week, next to the tomb of Jesus at the Church of the Holy Sepulchre in the Old City of Jerusalem. EPA
    Latin clergymen in procession on Thursday during the Catholic Washing of the Feet ceremony in Easter holy week, next to the tomb of Jesus at the Church of the Holy Sepulchre in the Old City of Jerusalem. EPA
  • Parishioners during the procession of the ribbons, part of the activities of holy week in the community of Cot de Cartago, in San Jose, Costa Rica. EPA
    Parishioners during the procession of the ribbons, part of the activities of holy week in the community of Cot de Cartago, in San Jose, Costa Rica. EPA
  • A reveller at a street party during a protest against restrictions by city officials in Rio de Janeiro, Brazil. City Hall banned the street parties during carnival celebrations, which were delayed by almost two months because of the pandemic. AP
    A reveller at a street party during a protest against restrictions by city officials in Rio de Janeiro, Brazil. City Hall banned the street parties during carnival celebrations, which were delayed by almost two months because of the pandemic. AP

World

Today's best photos: from piano on a mountain peak to a street party protest

‘The National’ picks the most striking images from around the world

The National

April 14, 2022

  • English
  • Arabic

More from The National:

Wednesday's best photos: from beach salvaging to a petrol queue

Tuesday's best photos: from a tropical storm in the Philippines to Ramadan in Bangladesh

Monday's best photos: from Imran Khan supporters to little Bolivian dancers

Sunday's best photos: from tightrope walking to free birds

Saturday's best photos: from animatronic dinosaurs in California to the Australian Grand Prix

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

While you're here
Updated: April 14, 2022, 1:09 PM
Photography