In Thailand ‘s new king Maha Vajiralongkorn Bodindradebayavarangkun pays his respects to a portrait of his late father king Bhumibol Adulyadej and Queen Sirikit at the Dusit Palace in Bangkok on December 1, 2016. Bureau of the Royal Household via AP
In Thailand ‘s new king Maha Vajiralongkorn Bodindradebayavarangkun pays his respects to a portrait of his late father king Bhumibol Adulyadej and Queen Sirikit at the Dusit Palace in Bangkok on December 1, 2016. Bureau of the Royal Household via AP
In Thailand ‘s new king Maha Vajiralongkorn Bodindradebayavarangkun pays his respects to a portrait of his late father king Bhumibol Adulyadej and Queen Sirikit at the Dusit Palace in Bangkok on December 1, 2016. Bureau of the Royal Household via AP
In Thailand ‘s new king Maha Vajiralongkorn Bodindradebayavarangkun pays his respects to a portrait of his late father king Bhumibol Adulyadej and Queen Sirikit at the Dusit Palace in Bangkok on Decem

New era for Thai monarchy as prince Vajiralongkorn is proclaimed king


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Bangkok // Crown prince Maha Vajiralongkorn became the king of Thailand on Thursday night, opening a new chapter for the powerful monarchy in a country still mourning the death of his father.

The 64-year-old inherits one of the world’s richest monarchies as well as a politically febrile nation, and was proclaimed 50 days after king Bhumibol Adulyadej’s death.

After weeks of complex palace protocols the prince was invited by the head of the National Legislative Assembly (NLA) to ascend the throne in an event broadcast on all Thai television channels.

“I agree to accept the wishes of the late king ... for the benefit of the entire Thai people,” said prince Vajiralongkorn, wearing an official white tunic decorated with medals and a pink sash.

The sombre, ritual-heavy ceremony at his Bangkok palace was attended by the chief of the NLA, junta leader Prayuth Chan-ocha, and the powerful 96-year-old head of the privy council, Prem Tinsulanonda.

Red-jacketed courtiers looked on as a palace staff member shuffling on his knees presented the new king with a microphone through which he delivered his few words of acceptance.

King Vajiralongkorn then prostrated himself, hands pressed together in respect, to a small shrine topped by a picture of his father and mother, Queen Sirikit Kitiyakara.

He becomes Rama X of Thailand’s Chakri dynasty, but will not formally be crowned until after his father’s cremation, which is expected next year.

Bhumibol’s reign, which ended on October 13, spanned a tumultuous period of Thai history marked by a communist insurgency, coups and street protests.

It also saw breakneck development which has resulted in a huge wealth disparity between a Bangkok-centric elite and the rural poor.

To many Thais, Bhumibol was the only consistent force in a politically combustible country, his image burnished by ritual and shielded by a harsh royal defamation law.

Monks chanted blessings at Buddhist temples to mark the new monarch’s ascension – an era-defining moment for most Thais who for seven decades knew only Bhumibol as their king.

His son does not yet enjoy the same level of popularity.

King Vajiralongkorn has spent much of his time outside of the public eye, particularly in southern Germany where he owns property.

He has had three high-profile divorces, while a recent police corruption scandal linked to the family of his previous wife allowed the public a rare glimpse of palace affairs.

His accession to the throne ends a period of uncertainty since Bhumibol’s death prompted by the prince’s request to delay his official proclamation so he could mourn with the Thai people.

Thailand’s constitutional monarchy has limited formal powers. But it draws the loyalty of much of the kingdom’s business elite as well as a military that dominates politics through its regular coups.

Analysts say King Vajiralongkorn, untested until now, will have to manage competing military cliques.

In a brief televised address after the ceremony, prime minister Prayuth, who as army chief led a coup in 2014, praised the new king “as the head of the Thai state and heart of the Thai people”.

The Thai monarchy is protected from criticism by one of the world’s harshest lese majeste laws, carrying up to 15 years in jail for every charge of defaming the king, queen, heir or regent.

That law makes open discussion about the royal family’s role all but impossible inside the kingdom and means all media based inside the country routinely self-censor.

Convictions for so-called “112” offences – named after its criminal code – have skyrocketed since generals seized power in 2014.

Experts say most have targeted the junta’s political opponents, many of whom support the toppled civilian government of Yingluck Shinawatra.

The emergence of Ms Yingluck’s brother Thaksin in 2001, a vote-winning billionaire seen by many of the rural poor as their champion, prompted the recent round of political conflict.

The army and royalist establishment have toppled two governments led by the siblings, accusing them of nepotism and corruption.

* Agence France-Presse

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The biog

Name: Timothy Husband

Nationality: New Zealand

Education: Degree in zoology at The University of Sydney

Favourite book: Lemurs of Madagascar by Russell A Mittermeier

Favourite music: Billy Joel

Weekends and holidays: Talking about animals or visiting his farm in Australia

'Worse than a prison sentence'

Marie Byrne, a counsellor who volunteers at the UAE government's mental health crisis helpline, said the ordeal the crew had been through would take time to overcome.

“It was worse than a prison sentence, where at least someone can deal with a set amount of time incarcerated," she said.

“They were living in perpetual mystery as to how their futures would pan out, and what that would be.

“Because of coronavirus, the world is very different now to the one they left, that will also have an impact.

“It will not fully register until they are on dry land. Some have not seen their young children grow up while others will have to rebuild relationships.

“It will be a challenge mentally, and to find other work to support their families as they have been out of circulation for so long. Hopefully they will get the care they need when they get home.”

All or Nothing

Amazon Prime

Four stars

Remaining Fixtures

Wednesday: West Indies v Scotland
Thursday: UAE v Zimbabwe
Friday: Afghanistan v Ireland
Sunday: Final

The Vile

Starring: Bdoor Mohammad, Jasem Alkharraz, Iman Tarik, Sarah Taibah

Director: Majid Al Ansari

Rating: 4/5

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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

Day 3, Dubai Test: At a glance

Moment of the day Lahiru Gamage, the Sri Lanka pace bowler, has had to play a lot of cricket to earn a shot at the top level. The 29-year-old debutant first played a first-class game 11 years ago. His first Test wicket was one to savour, bowling Pakistan opener Shan Masood through the gate. It set the rot in motion for Pakistan’s batting.

Stat of the day – 73 Haris Sohail took 73 balls to hit a boundary. Which is a peculiar quirk, given the aggressive intent he showed from the off. Pakistan’s batsmen were implored to attack Rangana Herath after their implosion against his left-arm spin in Abu Dhabi. Haris did his best to oblige, smacking the second ball he faced for a huge straight six.

The verdict One year ago, when Pakistan played their first day-night Test at this ground, they held a 222-run lead over West Indies on first innings. The away side still pushed their hosts relatively close on the final night. With the opposite almost exactly the case this time around, Pakistan still have to hope they can salvage a win from somewhere.