The Belgian Parliament on Wednesday voted unanimously in favour of a resolution calling on the EU to use its sanctions framework for Lebanon for the first time.
The resolution is the first of its kind since the start of Lebanon’s financial meltdown in 2019, said Malik Ben Achour, a member of Belgium’s socialist party who introduced the bill more than two years ago.
It was adopted during a vote at the Belgian Parliament’s commission for external relations.
“It’s the first time that a parliament in Europe adopts a resolution on Lebanon calling on the EU to implement its sanctions framework,” Mr Ben Achour told The National.
“This is a strong signal of support to all those who want to fight for the rule of law in Lebanon and the independence of the judiciary.”
Mr Ben Achour visited Beirut in late September with other European officials to meet Lebanese activists, lawyers and judges.
He said he was part of an informal network of European politicians interested in Lebanon who wanted to bring attention to the country’s financial crash, which has pushed almost three quarters of the population into poverty, according to the UN.
Experts agree the crisis was man-made and was caused by decades of corruption and nepotism among Lebanon's sectarian political class.
Adopted in July 2021, the EU’s framework for sanctions on Lebanon is designed to target those who are guilty of serious financial misconduct or obstruct the implementation of reform plans.
It remains unused as the EU focuses on the war in Ukraine and rarely discusses Lebanon.
The wide-ranging resolution adopted on Wednesday also asked the judiciary of Belgium and neighbouring countries to deepen investigations into the wealth of Lebanese officials in Europe.
It did not name the officials, but, in a tweet after the vote, Mr Ben Achour referred to Lebanon's veteran central bank governor Riad Salameh.
"The systematic theft of the money of the Lebanese by a political-financial [mafia] must end," he wrote.
The resolution "opens the way for European sanctions against actors (including Riad Salameh) of this "Ponzi scheme"."
The vote in the Belgian Parliament coincided with a visit to Beirut by European investigators looking into the origins of Mr Salameh's wealth.
They suspect him of having embezzled more than $300 million with his brother Raja through accounts in Europe.
Mr Salameh, who has rejected accusations of wrong-doing, is under investigation in Belgium, France, Germany, Luxembourg, Liechtenstein and Switzerland.
European prosecutors are for the first time looking at banking information regarding the Salameh brothers.
“It’s scandalous to see today that it’s the European judiciary that is leading the fight and making requests for judicial co-operation to the Lebanese judiciary for alleged corruption,” Mr Ben Achour told MPs shortly before the vote.
“Part of the money that was stolen from the Lebanese people is in Europe, in Brussels, in Germany, in Luxemburg, in Switzerland, in France. That’s something we cannot tolerate," said Mr Ben Achour.
Lebanese prosecutors investigating Mr Salameh have faced political pressure and defamatory media campaigns.
Mr Salameh is supported by a large number of Lebanese politicians, including Parliament Speaker Nabih Berri.
The resolution adopted by the Belgian Parliament also repeated the importance for the Lebanese government to implement reforms requested by the international community to unlock long-awaited financial aid.
The text was criticised by MP Peter de Roover, a member of the nationalist New Flemish Alliance party, who belittled its tone, claiming that it was akin to Belgium “standing in an ivory tower telling others what to do".
“The question is: will this have much impact on the ground? We fear not” Mr de Roover said, although he voted for the text after minor amendments were made.
The resolution was being closely watched in Lebanon, said Mr Ben Achour.
He said a prominent Lebanese lawyer, Wadih Akl, travelled from Beirut to Brussels to witness the vote in person.
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
ICC T20 Rankings
1. India - 270 ranking points
2. England - 265 points
3. Pakistan - 261 points
4. South Africa - 253 points
5. Australia - 251 points
6. New Zealand - 250 points
7. West Indies - 240 points
8. Bangladesh - 233 points
9. Sri Lanka - 230 points
10. Afghanistan - 226 points
Favourite book: ‘The Art of Learning’ by Josh Waitzkin
Favourite film: Marvel movies
Favourite parkour spot in Dubai: Residence towers in Jumeirah Beach Residence
COMPANY%20PROFILE
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Should late investors consider cryptocurrencies?
Wealth managers recommend late investors to have a balanced portfolio that typically includes traditional assets such as cash, government and corporate bonds, equities, commodities and commercial property.
They do not usually recommend investing in Bitcoin or other cryptocurrencies due to the risk and volatility associated with them.
“It has produced eye-watering returns for some, whereas others have lost substantially as this has all depended purely on timing and when the buy-in was. If someone still has about 20 to 25 years until retirement, there isn’t any need to take such risks,” Rupert Connor of Abacus Financial Consultant says.
He adds that if a person is interested in owning a business or growing a property portfolio to increase their retirement income, this can be encouraged provided they keep in mind the overall risk profile of these assets.
Dengue%20fever%20symptoms
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Other acts on the Jazz Garden bill
Sharrie Williams
The American singer is hugely respected in blues circles due to her passionate vocals and songwriting. Born and raised in Michigan, Williams began recording and touring as a teenage gospel singer. Her career took off with the blues band The Wiseguys. Such was the acclaim of their live shows that they toured throughout Europe and in Africa. As a solo artist, Williams has also collaborated with the likes of the late Dizzy Gillespie, Van Morrison and Mavis Staples.
Lin Rountree
An accomplished smooth jazz artist who blends his chilled approach with R‘n’B. Trained at the Duke Ellington School of the Arts in Washington, DC, Rountree formed his own band in 2004. He has also recorded with the likes of Kem, Dwele and Conya Doss. He comes to Dubai on the back of his new single Pass The Groove, from his forthcoming 2018 album Stronger Still, which may follow his five previous solo albums in cracking the top 10 of the US jazz charts.
Anita Williams
Dubai-based singer Anita Williams will open the night with a set of covers and swing, jazz and blues standards that made her an in-demand singer across the emirate. The Irish singer has been performing in Dubai since 2008 at venues such as MusicHall and Voda Bar. Her Jazz Garden appearance is career highlight as she will use the event to perform the original song Big Blue Eyes, the single from her debut solo album, due for release soon.
The bio
Favourite book: The Alchemist by Paulo Coelho
Favourite travel destination: Maldives and south of France
Favourite pastime: Family and friends, meditation, discovering new cuisines
Favourite Movie: Joker (2019). I didn’t like it while I was watching it but then afterwards I loved it. I loved the psychology behind it.
Favourite Author: My father for sure
Favourite Artist: Damien Hurst
The specs: 2018 Ducati SuperSport S
Price, base / as tested: Dh74,900 / Dh85,900
Engine: 937cc
Transmission: Six-speed gearbox
Power: 110hp @ 9,000rpm
Torque: 93Nm @ 6,500rpm
Fuel economy, combined: 5.9L / 100km
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
Sholto Byrnes on Myanmar politics
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Empty Words
By Mario Levrero
(Coffee House Press)
Company%20profile
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How it works
Each player begins with one of the great empires of history, from Julius Caesar's Rome to Ramses of Egypt, spread over Europe and the Middle East.
Round by round, the player expands their empire. The more land they have, the more money they can take from their coffers for each go.
As unruled land and soldiers are acquired, players must feed them. When a player comes up against land held by another army, they can choose to battle for supremacy.
A dice-based battle system is used and players can get the edge on their enemy with by deploying a renowned hero on the battlefield.
Players that lose battles and land will find their coffers dwindle and troops go hungry. The end goal? Global domination of course.