Ukraine's President Volodymyr Zelenskyy attends a flag-raising ceremony in Kyiv on Tuesday. Reuters
Ukraine's President Volodymyr Zelenskyy attends a flag-raising ceremony in Kyiv on Tuesday. Reuters
Ukraine's President Volodymyr Zelenskyy attends a flag-raising ceremony in Kyiv on Tuesday. Reuters
Ukraine's President Volodymyr Zelenskyy attends a flag-raising ceremony in Kyiv on Tuesday. Reuters

Zelenskyy vows to restore Ukrainian rule over Crimea


Tim Stickings
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Ukrainian President Volodymyr Zelenskyy on Tuesday vowed to restore Ukrainian rule over Crimea, rebuild the peninsula and lead it on a path into the European Union.

Mr Zelenskyy told a virtual summit dedicated to Crimea, which was annexed by Russia in 2014: "It started in Crimea and it will end in Crimea."

"We need to win — to win the fight against Russian aggression, and therefore we need to free Crimea from occupation."

His call to arms was echoed by Polish President Andrzej Duda, the only foreign leader to attend in person in Kyiv, who said Ukraine had the right to liberate its internationally recognised territory.

Mr Duda said he was determined to "see Crimea, the Ukrainian Crimea ... I believe, Volodymyr, that you will show Crimea to me".

"Crimea is and will be the same part of Ukraine as Gdansk or Lublin are part of Poland, as Nice is part of France, as Cologne is part of Germany, just like Rotterdam is part of the Netherlands," he said.

The annual summit on Crimea has taken on greater significance after Russia's all-out invasion in February. It comes a day before Ukraine's independence day and Mr Zelenskyy and some senior officials wore national dress for the occasion.

Western leaders addressing the summit said they would never recognise the Russian occupation of Crimea, though they stopped short of calling for it to recaptured.

Britain's Prime Minister Boris Johnson said leaders should have the humility to acknowledge that "not everyone realised the sheer enormity of what was happening at the time", heeding a frequent complaint from countries in Eastern Europe.

  • A young girl displays some patriotism during an event in central Brussels for Ukrainian Independence Day, which arrive six months to the day since Russia's invasion. AP
    A young girl displays some patriotism during an event in central Brussels for Ukrainian Independence Day, which arrive six months to the day since Russia's invasion. AP
  • A giant sculpture of a defiant hand with fingernails painted in the colours of Ukraine stands outside the Russian embassy in Prague, Czech Republic. AFP
    A giant sculpture of a defiant hand with fingernails painted in the colours of Ukraine stands outside the Russian embassy in Prague, Czech Republic. AFP
  • A woman visits the tomb of her relative, a Ukrainian serviceman who was killed in a fight against Russian troops, in Lviv. Reuters
    A woman visits the tomb of her relative, a Ukrainian serviceman who was killed in a fight against Russian troops, in Lviv. Reuters
  • A vast Ukrainian flag is unfurled on Independence Day in the historical Grand Place of Brussels. AP
    A vast Ukrainian flag is unfurled on Independence Day in the historical Grand Place of Brussels. AP
  • Russian tanks that were captured by the Ukrainian army are displayed on Khreshchatyk on Independence Day in central Kyiv. EPA
    Russian tanks that were captured by the Ukrainian army are displayed on Khreshchatyk on Independence Day in central Kyiv. EPA
  • A march on the Promenade des Anglais in Nice, south-eastern France. AFP
    A march on the Promenade des Anglais in Nice, south-eastern France. AFP
  • Ukrainians young and old gather at Circular Quay in Sydney. Getty Images
    Ukrainians young and old gather at Circular Quay in Sydney. Getty Images
  • Ukrainian President Volodymyr Zelenskyy and his wife Olena attend a commemoration ceremony in Kyiv. AFP
    Ukrainian President Volodymyr Zelenskyy and his wife Olena attend a commemoration ceremony in Kyiv. AFP
  • Ukrainians and supporters in Sydney marks the anniversary of the Declaration of Independence of 1991, which ended Soviet rule. Getty Images
    Ukrainians and supporters in Sydney marks the anniversary of the Declaration of Independence of 1991, which ended Soviet rule. Getty Images
  • The main square in Kyiv has been turned into an open-air military museum for Ukrainian Independence Day. AFP
    The main square in Kyiv has been turned into an open-air military museum for Ukrainian Independence Day. AFP
  • Destroyed Russian military vehicles installed in central Kyiv, where authorities have banned mass gatherings in the capital for fear of Russian missile attacks. AP
    Destroyed Russian military vehicles installed in central Kyiv, where authorities have banned mass gatherings in the capital for fear of Russian missile attacks. AP
  • Larry the cat stands under a floral display to mark Ukraine's Independence Day outside No 10 Downing Street, central London. Reuters
    Larry the cat stands under a floral display to mark Ukraine's Independence Day outside No 10 Downing Street, central London. Reuters
  • Ukrainians take part in a demonstration in the lead-up to Independence Day and six months since the Russian invasion began, in Valletta, Malta. Reuters
    Ukrainians take part in a demonstration in the lead-up to Independence Day and six months since the Russian invasion began, in Valletta, Malta. Reuters
  • The Academy Symphony Orchestra of the Luhansk Regional Philharmonic performs during a charity concert in support of the armed forces of Ukraine, in Lviv. Getty Images
    The Academy Symphony Orchestra of the Luhansk Regional Philharmonic performs during a charity concert in support of the armed forces of Ukraine, in Lviv. Getty Images
  • Central Kyiv is full of reminders of the continuing war on Independence Day. AFP
    Central Kyiv is full of reminders of the continuing war on Independence Day. AFP
  • Ukrainian and American flags raised on a street in New York to mark the occasion. AFP
    Ukrainian and American flags raised on a street in New York to mark the occasion. AFP
  • Dynamo Kyiv players wrapped in Ukrainian national flags before their second-leg Champions League play-off match against Benfica in Lisbon. EPA
    Dynamo Kyiv players wrapped in Ukrainian national flags before their second-leg Champions League play-off match against Benfica in Lisbon. EPA
  • The Triton Fountain in Valletta is lit in Ukrainian colours. Reuters
    The Triton Fountain in Valletta is lit in Ukrainian colours. Reuters
  • Ukrainians show support in the Maltese capital. Reuters
    Ukrainians show support in the Maltese capital. Reuters
  • 'The Train to Victory', sitting at Kyiv railway station, consists of seven carriages painted by Ukrainian artists, each dedicated to the occupied territories of Ukraine. The train was to arrive in the western city of Uzhgorod on Independence Day. EPA
    'The Train to Victory', sitting at Kyiv railway station, consists of seven carriages painted by Ukrainian artists, each dedicated to the occupied territories of Ukraine. The train was to arrive in the western city of Uzhgorod on Independence Day. EPA
  • Support for Ukraine in Zagreb, Croatia. AFP
    Support for Ukraine in Zagreb, Croatia. AFP
  • People arriving on Khreschatyk Street in Kyiv, where events to mark Ukraine's Independence Day are being held. Getty Images
    People arriving on Khreschatyk Street in Kyiv, where events to mark Ukraine's Independence Day are being held. Getty Images

He said Russian President Vladimir Putin was "planning to do to parts of Ukraine, in fact all of Ukraine, what he has done to Crimea and he is preparing more annexations and more sham referendums".

German Chancellor Olaf Scholz echoed that warning, amid suggestions that Russia would try to annex territory captured during this year's invasion.

"Any sham referendums or other attempts to alter the status of parts of Ukrainian territory will never be recognised," said Mr Scholz.

A referendum in Crimea in 2014 was dismissed as fraudulent by western powers because it took place while Russian troops were on the peninsula, violated Ukraine's constitution and was marred by irregularities.

Russia shows no sign of abandoning the peninsula, home to its Black Sea fleet, and has used Crimea as a platform to launch missile strikes on Ukrainian targets.

Nato Secretary General Jens Stoltenberg accused Russia of turning Crimea into "one of the most militarised areas in Europe", while other leaders highlighted reports of human rights abuse under Moscow's rule.

But recent explosions in Crimea have raised the prospect that the fighting could spread there, even as Ukraine remains coy on whether it is behind them.

Britain's departing Prime Minister Boris Johnson addressed the Crimea summit by video link. AP
Britain's departing Prime Minister Boris Johnson addressed the Crimea summit by video link. AP

Mr Scholz and European Commission President Ursula von der Leyen repeated a promise made by the G7 countries at their summit in June to support Ukraine for "as long as it takes".

Mr Zelenskyy said restoring control over Crimea would be "a historic anti-war step in Europe" and promised to restore public services and tourism if Ukraine retook the peninsula.

He said people from Crimea would become citizens of the European Union if Ukraine fulfilled its dream of joining the bloc, a process that took a step forward in June when it was formally granted candidate status.

"I want to emphasise for Ukraine — Crimea is not just some territory, not a figure in the geopolitical game. For Ukraine, Crimea is a part of our people, our society, a community of people," Mr Zelenskyy said.

"The path of Crimea will be the path of the entire Ukrainian continent. Ukraine will remove the barbed wire that blocks the way for ordinary people to the best spots and places of Crimea, these illegal fences that have torn out this beautiful coastline of our beautiful Crimea."

UK's plans to cut net migration

Under the UK government’s proposals, migrants will have to spend 10 years in the UK before being able to apply for citizenship.

Skilled worker visas will require a university degree, and there will be tighter restrictions on recruitment for jobs with skills shortages.

But what are described as "high-contributing" individuals such as doctors and nurses could be fast-tracked through the system.

Language requirements will be increased for all immigration routes to ensure a higher level of English.

Rules will also be laid out for adult dependants, meaning they will have to demonstrate a basic understanding of the language.

The plans also call for stricter tests for colleges and universities offering places to foreign students and a reduction in the time graduates can remain in the UK after their studies from two years to 18 months.

Real estate tokenisation project

Dubai launched the pilot phase of its real estate tokenisation project last month.

The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.

Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.

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

Company profile

Company: Rent Your Wardrobe 

Date started: May 2021 

Founder: Mamta Arora 

Based: Dubai 

Sector: Clothes rental subscription 

Stage: Bootstrapped, self-funded 

MATCH INFO

Newcastle United 1 (Carroll 82')

Leicester City 2 (Maddison 55', Tielemans 72')

Man of the match James Maddison (Leicester)

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Updated: August 24, 2022, 5:43 AM