Defence Minister Prabowo Subianto claimed victory in the first round of Indonesia's presidential election on Wednesday.
The front-runner in pre-election polls, Mr Prabowo won about 58 per cent of votes according to four pollsters based on ballots counted in a sample of voting stations nationwide.
His two main rivals, Anies Baswedan and Ganjar Pranowo, trailed with about 25 per cent and 17 per cent respectively, according to independent pollsters conducting "quick counts", which in previous elections have proven to be accurate.
There was no declaration by electoral officials and neither Mr Anies nor Mr Pranowo have conceded defeat.
Mr Prabowo is the only candidate with ties to the Suharto dictatorship, under which he served as a special forces commander, and has close ties to the popular sitting president Joko Widodo.
To avoid a run-off, he will need more than 50 per cent of the total votes cast and at least 20 per cent in each of the country’s 38 provinces.
Voting ended on Wednesday afternoon with no major problems reported.
“Alhamdulillah [praise be to God], we hope the election can go in one round,” said Nusron Wahid, secretary of Mr Prabowo's campaign team, commenting on the latest counts.
Mr Prabowo has undergone an image rebrand and is contesting his third successive election after twice losing out to Mr Joko, popularly known as Jokowi, who cannot run for a third consecutive term as head of the world's third-largest democracy.
About 259,000 candidates are vying for 20,600 posts in the world's biggest single-day election, Reuters reported.
Polls opened at 7am local time in each of the three time zones across the tropical nation's 17,000 islands inhabited by 270 million people.
The logistics of the vote were daunting: ballot boxes and ballots were transported by boat, motorcycle, horse and on foot in some of the more far-flung locations, AP reported.
A fierce thunderstorm flooded several streets of Jakarta at dawn.
Last week, damage from heavy rains in Central Java's Demak regency prompted the postponement of the election in 10 villages.
Mr Prabowo's main challengers were two former regional governors, Mr Ganjar and Mr Anies.
Mr Anies campaigned on promises of change and preventing a backsliding in the democratic reforms achieved in the 25 years since the end of Mr Suharto's authoritarian, kleptocratic rule.
Mr Ganjar is from the Indonesia Democratic Party of Struggle, of which the current president is ostensibly a member, and has campaigned largely on continuing his policies, but crucially lacks Mr Joko's endorsement.
Novan Maradona, 42, an entrepreneur, said after voting in central Jakarta he wanted a candidate who would continue policies currently in place.
“If we start over from zero, it will take time,” he said.
Undecided voters will be critical for Mr Anies, a former governor of Jakarta, and former Central Java governor Mr Ganjar to force a run-off in June between the top two finishers.
“I want to underline that we want honest and fair elections so that it becomes peaceful,” Mr Anies said at a polling station
Deadly riots broke out after the 2019 election, when Mr Prabowo initially contested Mr Joko's win.
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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 years Ramadan fell in May
