Soldiers secure an area after two explosions struck the town of Jolo, in the southern Sulu province of the Philippines on Monday, August 24, 2020. AP
Soldiers secure an area after two explosions struck the town of Jolo, in the southern Sulu province of the Philippines on Monday, August 24, 2020. AP
Soldiers secure an area after two explosions struck the town of Jolo, in the southern Sulu province of the Philippines on Monday, August 24, 2020. AP
Soldiers secure an area after two explosions struck the town of Jolo, in the southern Sulu province of the Philippines on Monday, August 24, 2020. AP

Philippines: bombing in ISIS-affiliate stronghold kills 9 and wounds dozens


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A bombing in a town on a restive southern Philippines island killed nine people and wounded dozens on Monday, among them soldiers and civilians, the military said, with radical extremists suspected of being behind the attack.

Two explosions believed to be homemade bombs were triggered within one hour of each other in the main urban centre on the island of Jolo, a stronghold of the Abu Sayyaf, a militant group that has pledged allegiance to ISIS.

It was the biggest attack in the town since January last year, when twin suicide bombings before Sunday service at a Jolo church killed more than 20 people and wounded at least 100.

A faction of Abu Sayyaf was blamed for that attack, which Philippine authorities said involved Indonesian bombers.

The first blast on Monday happened about noon in front of a food centre, outside of which two military trucks were parked, the army said. A second blast followed, but there were no immediate reports of casualties from that incident.

That first bomb killed five soldiers and four civilians and 16 military personnel were among dozens wounded, said Lt Gen Corleto Vinluan, head of the Western Mindanao command.

Lt Col Ronaldo Mateo, a military spokesman, said the bomb was attached to a parked motorcycle.

There was no immediate claim of responsibility and police said an investigation was under way.

Abu Sayyaf was founded in the 1990s with its roots in a separatist cause that it has since abandoned. It is active in the Sulu archipelago of Mindanao, where hundreds of military have been deployed to try to destroy the group, which has been linked to ISIS and Al Qaeda.

The group's various factions have grabbed headlines, most recently for suicide bombings, banditry, piracy and kidnap for ransom. It also has become notorious for beheading captives, among them westerners.

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

Moon Music

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Dhadak 2

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Key products and UAE prices

iPhone XS
With a 5.8-inch screen, it will be an advance version of the iPhone X. It will be dual sim and comes with better battery life, a faster processor and better camera. A new gold colour will be available.
Price: Dh4,229

iPhone XS Max
It is expected to be a grander version of the iPhone X with a 6.5-inch screen; an inch bigger than the screen of the iPhone 8 Plus.
Price: Dh4,649

iPhone XR
A low-cost version of the iPhone X with a 6.1-inch screen, it is expected to attract mass attention. According to industry experts, it is likely to have aluminium edges instead of stainless steel.
Price: Dh3,179

Apple Watch Series 4
More comprehensive health device with edge-to-edge displays that are more than 30 per cent bigger than displays on current models.

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Starring: Vijay, Sneha, Prashanth, Prabhu Deva, Mohan
Director: Venkat Prabhu
Rating: 2/5