• Giorgia Meloni, leader of the Fratelli d'Italia (Brothers of Italy) holds a "thank you Italy" sign during a press conference at the party electoral headquarters in Rome. Getty
    Giorgia Meloni, leader of the Fratelli d'Italia (Brothers of Italy) holds a "thank you Italy" sign during a press conference at the party electoral headquarters in Rome. Getty
  • Supporters celebrate at Ms Meloni's press conference. Getty
    Supporters celebrate at Ms Meloni's press conference. Getty
  • Ignazio La Russa from the Brothers of Italy talks to the media. Getty
    Ignazio La Russa from the Brothers of Italy talks to the media. Getty
  • The snap election was triggered by the resignation of Prime Minister Mario Draghi in July. Getty
    The snap election was triggered by the resignation of Prime Minister Mario Draghi in July. Getty
  • Guido Crosetto, co-founder of the Brothers of Italy party. Getty
    Guido Crosetto, co-founder of the Brothers of Italy party. Getty
  • Staff members and supporters of Ms Meloni celebrate. Bloomberg
    Staff members and supporters of Ms Meloni celebrate. Bloomberg
  • Debora Serracchiani, vice president of the Italian centre-left Democratic Party, addresses the media. AFP
    Debora Serracchiani, vice president of the Italian centre-left Democratic Party, addresses the media. AFP
  • Ms Meloni casts her vote on Sunday. Getty
    Ms Meloni casts her vote on Sunday. Getty
  • Ms Meloni is on track to lead Italy's most right-wing government since the Second World War. AFP
    Ms Meloni is on track to lead Italy's most right-wing government since the Second World War. AFP
  • Exit polls appear on the screen at the Brothers of Italy headquarters. Reuters
    Exit polls appear on the screen at the Brothers of Italy headquarters. Reuters

Georgia Meloni to be Italy's first female prime minister in far-right election win


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Giorgia Meloni won a clear majority in Sunday’s Italian election, based on partial results on Monday, setting her up to become the country’s first female prime minister — at the head of the most right-wing government since the Second World War.

Projections based on votes counted from about two-thirds of polling stations showed her euro-sceptic Brothers of Italy party before other contenders in Sunday’s balloting.

In a victory speech, the 45-year-old said: “If we are called to govern this nation, we will do it for everyone, we will do it for all Italians and we will do it with the aim of uniting the people.

“Italy chose us. We will not betray (the country) as we never have.”

The formation of a ruling coalition, with the help of Ms Meloni’s right-wing and centre-right allies, could take weeks.

The mandate to try to form a government is given by Italy’s president after consultations with party leaders.

Former European Central Bank chief Mario Draghi, whose government collapsed two months ago, stays on in a caretaker role.

Ms Meloni has solidly backed the supplying of Ukraine with arms to defend itself against Russia’s invasion.

In contrast, right-wing League leader Matteo Salvini, who before the war was a staunch admirer of Russian President Vladimir Putin, has voiced concern that western sanctions could end up hurting Italy’s economic interests more that punishing those of Russia.

Supporters of Giorgia Meloni, leader of the Brothers of Italy, after her press conference at the party electoral headquarters in Rome. Getty
Supporters of Giorgia Meloni, leader of the Brothers of Italy, after her press conference at the party electoral headquarters in Rome. Getty

Former Premier Silvio Berlusconi, another long-time Putin admirer, has said that his inclusion in a centre-right bloc coalition would guarantee that Italy stays firmly anchored in the EU and one of its most reliable members.

With Italy’s households and businesses struggling with staggeringly high energy bills as winter approaches, Ms Meloni has demurred from Mr Salvini’s push to swell already-debt-laden Italy's borrowing by tens of billions of euros for energy relief.

What kind of government the eurozone’s third-largest economy might be getting was being closely watched in Europe, given Ms Meloni’s criticism of “Brussels bureaucrats” and her ties to other right-wing leaders.

She recently defended Hungary’s Prime Minister Viktor Orban after the European Commission recommended suspending billions of euros in funding to Hungary over concerns about democratic backsliding and the possible mismanagement of EU money.

EU is 'complex'

After opinion polls in the run-up to the vote indicated she would win, Ms Meloni started moderating her message of “God, homeland and family” in an apparent attempt to reassure the EU and other international partners, worried about euro-scepticism.

“This is the time for being responsible,” Ms Meloni said, appearing live on television and describing the situation for Italy and the EU is “particularly complex”.

In her campaign, she criticised EU officials as being overly bureaucratic and vowing to protect Italy’s national interests if they clashed with EU policies.

Projections based on votes counted from nearly two-thirds of the polling stations in Sunday’s balloting indicated Ms Meloni’s Brothers of Italy party would win about 25.7 per cent of the vote.

The closest challenger, the centre-left Democratic Party of former Premier Enrico Letta, is set to get about 19.3 per cent.

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2020 Oscars winners: in numbers
  • Parasite – 4
  • 1917– 3
  • Ford v Ferrari – 2
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  • Once Upon a Time ... in Hollywood – 2
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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

ICC men's cricketer of the year

2004 - Rahul Dravid (IND) ; 2005 - Jacques Kallis (SA) and Andrew Flintoff (ENG); 2006 - Ricky Ponting (AUS); 2007 - Ricky Ponting; 2008 - Shivnarine Chanderpaul (WI); 2009 - Mitchell Johnson (AUS); 2010 - Sachin Tendulkar (IND); 2011 - Jonathan Trott (ENG); 2012 - Kumar Sangakkara (SL); 2013 - Michael Clarke (AUS); 2014 - Mitchell Johnson; 2015 - Steve Smith (AUS); 2016 - Ravichandran Ashwin (IND); 2017 - Virat Kohli (IND); 2018 - Virat Kohli; 2019 - Ben Stokes (ENG); 2021 - Shaheen Afridi

Updated: September 26, 2022, 7:04 AM