The Philippines poll commission on Monday threw out a petition seeking to bar the son of the late dictator Ferdinand Marcos from running in this year's presidential election.
The Commission on Elections (Comelec) dismissed the complaint aimed at blocking Ferdinand Marcos Jr's candidacy papers, the lawyers in the petition said.
The case is just one of several filed with the Comelec seeking to disqualify the late dictator's son from running in this year's election.
Mr Marcos is the frontrunner for the May 9 election, opinion polls show, but has faced at least eight complaints urging the Comelec to bar him from running, mainly over a 1995 tax evasion conviction.
The Court of Appeals acquitted Mr Marcos of non-payment of the taxes in 1997, but it upheld the guilty verdict on failing to file tax returns.
Since the conviction, Mr Marcos has been elected governor, congressman and senator and ran unsuccessfully for the vice presidency. He remains hugely popular in northern parts of the Philippines and has a big social media following.
Despite its fall from grace, the Marcos family has retained vast wealth and powerful political connections, but its prominence has been a cause of anger to many who suffered under the notorious martial law era of his father's rule.
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
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Transmission: Seven-speed automatic
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