The son of a former dictator of the Philippines, Ferdinand Marcos Jr, also known as ”Bongbong”, has been inaugurated as the country's newest president after a landslide election victory.
Mr Marcos Jr received more than 31 million votes in May's election in a result that brought his family name back into the political limelight, 36 years after his father's removal from power.
Ferdinand Marcos Sr ruled the country for two decades, creating vast debt and financial ruin through kleptocracy and authoritarianism. Here is a look at the former dictator, his fall and his legacy.
Who was Ferdinand Marcos Sr?
Born on September 11, 1917, Ferdinand Emmanuel Edralin Marcos Sr served as his country’s 10th president for 21 years.
He earned a reputation as a “war hero” but his claims were found to be false by the US Army.
“Army investigations found no foundation for Mr Marcos’s claims that he led a guerrilla force called Ang Mga Maharlika in military operations against Japanese forces from 1942 to 1944,” The New York Times reported on January 23, 1986.
US Army Capt Elbert Curtis called Marcos Sr’s claims “fraudulent" and “preposterous”.
From a career in law, Marcos Sr rose to power in 1949 as a member of the Philippines' House of Representatives, then the Senate in 1959.
He was elected president six years later.
Although the country’s economy prospered in the early years of his rule, the Philippines soon became rife with poverty, debt and a crushing financial crisis.
He was re-elected for a second term shortly after enacting martial law, effectively expanding his powers, silencing the opposition and oppressing religious minorities such as Muslims.
Amnesty International estimates that more than 3,000 people were victims of extrajudicial killings and 35,000 others were tortured during Marcos Sr’s rule under martial law from 1972 to 1986.
Overall, Marcos Sr’s reign is largely associated with corruption, extravagance and ill-gotten wealth.
Speaking to the Philippines’ Inquirer in 1998, Marcos Sr’s wife Imelda famously said:
How did he lose power?
By his third term in 1981, the cracks in Marcos Sr’s rule began to show.
The assassination of an opposition senator, Benigno Aquino Jr, caused an anti-Marcos sentiment to gain strength.
Then, documents of the dictator’s illicit financial activities began to surface.
In 1986, he was removed from power after calling for snap elections in an interview with US broadcaster ABC News.
One of the presidential candidates considered by the opposition included the assassinated senator’s widow Corazon Aquino, who lost by 7 per cent of the vote.
These results caused outrage as accusations of electoral fraud were hurled at Marcos Sr, leading to a chain of events that resulted in high-level resignations from his government.
The People Power Revolution took off on February 22, 1986, effectively removing Marcos Sr from power and prompting him to flee to Hawaii.
Where do the Marcos family live now?
Despite a constitutional article that prohibits political dynasties, the Marcos family are still a part of the country’s political fabric.
They returned to the Philippines in 1991 to face corruption charges two years after Marcos Sr’s death.
Imelda Marcos made a failed bid for president shortly after the family’s return, while Mr Marcos Jr followed in his father’s footsteps by landing a seat in the House of Representatives.
Imelda and her daughter Imee won their own seats in the House.
Despite standing trial for numerous charges, the former first lady has not served any jail sentence.
Now, Mr Marcos Jr has become the Philippines’ president.
“But 2022 is not 1972. This is not the end of Philippine democracy, though it may accelerate its decay,” said Gregory Poling, a senior fellow and director for South-East Asia at Washington’s Centre for Strategic and International Studies.
American historian Alfred McCoy, who has written books on the Marcos Sr dictatorship, said: “Bongbong Marcos is as if Marcos Sr rose from the dead ... he is a surrogate for his father.”
Bongbong has tried to distance himself from his family's legacy.
"Judge me not by my ancestors, but by my actions," his spokesman, Vic Rodriguez, has quoted Mr Marcos Jr as saying.
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
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.
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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 BIO
Favourite car: Koenigsegg Agera RS or Renault Trezor concept car.
Favourite book: I Am Pilgrim by Terry Hayes or Red Notice by Bill Browder.
Biggest inspiration: My husband Nik. He really got me through a lot with his positivity.
Favourite holiday destination: Being at home in Australia, as I travel all over the world for work. It’s great to just hang out with my husband and family.
Disability on screen
Empire — neuromuscular disease myasthenia gravis; bipolar disorder; post-traumatic stress disorder (PTSD)
Rosewood and Transparent — heart issues
24: Legacy — PTSD;
Superstore and NCIS: New Orleans — wheelchair-bound
Taken and This Is Us — cancer
Trial & Error — cognitive disorder prosopagnosia (facial blindness and dyslexia)
Grey’s Anatomy — prosthetic leg
Scorpion — obsessive compulsive disorder and anxiety
Switched at Birth — deafness
One Mississippi, Wentworth and Transparent — double mastectomy
Dragons — double amputee
Company%20profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Fasset%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2019%0D%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Mohammad%20Raafi%20Hossain%2C%20Daniel%20Ahmed%0D%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%0D%3Cbr%3E%3Cstrong%3EInitial%20investment%3A%3C%2Fstrong%3E%20%242.45%20million%0D%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%3C%2Fstrong%3E%2086%0D%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%3C%2Fstrong%3E%20Pre-series%20B%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Investcorp%2C%20Liberty%20City%20Ventures%2C%20Fatima%20Gobi%20Ventures%2C%20Primal%20Capital%2C%20Wealthwell%20Ventures%2C%20FHS%20Capital%2C%20VN2%20Capital%2C%20local%20family%20offices%3C%2Fp%3E%0A
Copa del Rey final
Sevilla v Barcelona, Saturday, 11.30pm (UAE), match on Bein Sports
Mrs%20Chatterjee%20Vs%20Norway
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Ashima%20Chibber%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Rani%20Mukerji%2C%20Anirban%20Bhattacharya%20and%20Jim%20Sarbh%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%202%2F5%3C%2Fp%3E%0A
Company profile
Company: Rent Your Wardrobe
Date started: May 2021
Founder: Mamta Arora
Based: Dubai
Sector: Clothes rental subscription
Stage: Bootstrapped, self-funded
Our Time Has Come
Alyssa Ayres, Oxford University Press
World record transfers
1. Kylian Mbappe - to Real Madrid in 2017/18 - €180 million (Dh770.4m - if a deal goes through)
2. Paul Pogba - to Manchester United in 2016/17 - €105m
3. Gareth Bale - to Real Madrid in 2013/14 - €101m
4. Cristiano Ronaldo - to Real Madrid in 2009/10 - €94m
5. Gonzalo Higuain - to Juventus in 2016/17 - €90m
6. Neymar - to Barcelona in 2013/14 - €88.2m
7. Romelu Lukaku - to Manchester United in 2017/18 - €84.7m
8. Luis Suarez - to Barcelona in 2014/15 - €81.72m
9. Angel di Maria - to Manchester United in 2014/15 - €75m
10. James Rodriguez - to Real Madrid in 2014/15 - €75m
The Sand Castle
Director: Matty Brown
Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
Rating: 2.5/5
Afcon 2019
SEMI-FINALS
Senegal v Tunisia, 8pm
Algeria v Nigeria, 11pm
Matches are live on BeIN Sports