• Italy's newly elected Prime Minister Giorgia Meloni looks on during the swearing-in ceremony at the Quirinale Presidential Palace, in Rome, Italy October 22, 2022. REUTERS / Guglielmo Mangiapane
    Italy's newly elected Prime Minister Giorgia Meloni looks on during the swearing-in ceremony at the Quirinale Presidential Palace, in Rome, Italy October 22, 2022. REUTERS / Guglielmo Mangiapane
  • Ms Meloni and Italian President Sergio Mattarella during the ceremony, at the Quirinale Presidential Palace. Reuters
    Ms Meloni and Italian President Sergio Mattarella during the ceremony, at the Quirinale Presidential Palace. Reuters
  • Mr Mattarella, fourth right, and Ms Meloni, fifth right, with members of the new Cabinet. AFP
    Mr Mattarella, fourth right, and Ms Meloni, fifth right, with members of the new Cabinet. AFP
  • Ms Meloni's Brothers of Italy party won the largest vote in the national election. Getty Images
    Ms Meloni's Brothers of Italy party won the largest vote in the national election. Getty Images
  • Her Cabinet has 24 ministers. Getty Images
    Her Cabinet has 24 ministers. Getty Images
  • Husband to newly appointed Prime Minister Giorgia Meloni, Andrea Giambruno, holds in his arm their daughter Ginevra, flanked by sister Arianna Meloni. AP
    Husband to newly appointed Prime Minister Giorgia Meloni, Andrea Giambruno, holds in his arm their daughter Ginevra, flanked by sister Arianna Meloni. AP
  • Ms Meloni during the ceremonies. Reuters
    Ms Meloni during the ceremonies. Reuters
  • Leaving Quirinale Presidential Palace after she was sworn in. Reuters
    Leaving Quirinale Presidential Palace after she was sworn in. Reuters

Far-right Giorgia Meloni sworn in as Italy's first female prime minister


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Giorgia Meloni was sworn in on Saturday as Italy’s first female prime minister.

Ms Meloni, 45, whose political party has neo-fascist roots, took the oath of office before the Italian president at the presidential palace.

Her Brothers of Italy party won the largest vote in last month’s national election.

“I swear to be faithful to the republic,” the 45-year-old Ms Meloni said, reciting the ritual oath of office under the crystal chandeliers of the chamber before shaking hands with President Sergio Mattarella.

The pledge was signed by her and counter-signed by Mr Mattarella, who serves as guarantor of the Constitution, drafted in the years immediately after the end of war, which saw the demise of fascist dictator Benito Mussolini.

Ms Meloni’s 24 ministers followed, similarly swearing in. Five of the ministers are technocrats, not representing any party. Six of them are women.

Italian President Sergio Mattarella, second left, welcomes new Prime Minister Giorgia Meloni as she arrives for the swearing-in ceremony. AFP
Italian President Sergio Mattarella, second left, welcomes new Prime Minister Giorgia Meloni as she arrives for the swearing-in ceremony. AFP

Ms Meloni will head her first Cabinet meeting on Sunday. Her government replaces that led by Mario Draghi, a former European Central Bank chief, who was appointed by Mr Mattarella in 2021 to lead a pandemic national unity coalition.

Ms Meloni was the sole major party leader to refuse to join the coalition, insisting the nation’s voters return to the polls, which they did on September 25.

European Commission chief Ursula von der Leyen congratulated Ms Meloni on Saturday and said she looked forward to “constructive co-operation” with her government.

“Congratulations to Giorgia Meloni on her appointment as Italian Prime Minister, the first woman to hold the post,” Ms von der Leyen wrote on Twitter.

“I count on and look forward to constructive co-operation with the new government on the challenges we face together.”

Ms Meloni announced her Cabinet on Friday evening when she accepted a mandate to form Italy's next government.

Newly appointed Italian Premier Giorgia Meloni shakes hand with deputy prime minister Matteo Salvini during the swearing-in ceremony. AP
Newly appointed Italian Premier Giorgia Meloni shakes hand with deputy prime minister Matteo Salvini during the swearing-in ceremony. AP

Anti-immigration stance

The Brothers of Italy, which holds Eurosceptic and anti-immigration views, won 26 per cent of the vote in the September polls, compared with 8 and 9 per cent, respectively, for allies Forza Italia and the far-right League.

Ms Meloni's appointment is a change for the eurozone's third-largest economy and for the party, which has never been in government.

The consultations to cobble together a government have been overshadowed by disagreements over Ms Meloni's support for Ukraine since the Russian invasion, with her two would-be coalition partners both considered to be close to Moscow.

Ms Meloni has been firm about her support for Ukraine, in line with the rest of the EU and the US.

“I intend to lead a government with a clear and unequivocal foreign policy line,” she has said. “Italy is fully, and with its head held high, part of Europe and the Atlantic alliance.

“Anyone who does not agree with this cornerstone will not be able to be part of the government, even at the cost of not forming a government.”

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

Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
Springsteen: Deliver Me from Nowhere

Director: Scott Cooper

Starring: Jeremy Allen White, Odessa Young, Jeremy Strong

Rating: 4/5

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Updated: October 22, 2022, 9:33 AM