Boris Johnson will use next week's G7 summit to urge the world's largest economies to pledge to vaccinate the global population from Covid-19 by the end of 2022.
The UK prime minister said it would be "the single greatest feat in medical history” if the goal was achieved next year.
At the summit in Cornwall, the first meeting of G7 leaders since the start of the pandemic, Mr Johnson will ask for “concrete commitments” to inoculate the world by the end of 2022, a UK government statement said.
“Next week the leaders of the world’s greatest democracies will gather at an historic moment for our countries and for the planet,” Mr Johnson said.
“The world is looking to us to rise to the greatest challenge of the post-war era: defeating Covid and leading a global recovery driven by our shared values.
“Vaccinating the world by the end of next year would be the single greatest feat in medical history.
“I’m calling on my fellow G7 leaders to join us to end to this terrible pandemic and pledge will we never allow the devastation wreaked by coronavirus to happen again,” he added.
The global recovery from the pandemic is expected to be the primary topic of discussions at the three-day summit next week.
Britain has previously vowed to donate surplus vaccines to Covax, the scheme aimed at ensuring poorer countries do not get left behind in the inoculation push.
But earlier this week the UK government was urged to do more.
A letter to Mr Johnson from charity chiefs said “the UK must now show the historic leadership needed to end this crisis, by sharing at least 20 per cent of available doses between now and August”.
“As president of the G7, the UK has the opportunity to set the standard for global action on sharing doses. Three months ago, you proudly pledged that the UK would share vaccines with the world. Now we ask that you turn this pledge into reality,” said the letter from Jeremy Farrar, director of health research charity Wellcome Trust, and Steven Waugh, head of Unicef’s UK office.
“The staggering progress with our national roll-out, combined with everyone playing their part in respecting tough but necessary restrictions, means we are on the cusp of all restrictions lifting.
“Freedom will however be short lived if the UK fails to share access to the huge supply of vaccines it has secured – enough to fully vaccinate the entire UK population twice over.”
Killing of Qassem Suleimani
The drill
Recharge as needed, says Mat Dryden: “We try to make it a rule that every two to three months, even if it’s for four days, we get away, get some time together, recharge, refresh.” The couple take an hour a day to check into their businesses and that’s it.
Stick to the schedule, says Mike Addo: “We have an entire wall known as ‘The Lab,’ covered with colour-coded Post-it notes dedicated to our joint weekly planner, content board, marketing strategy, trends, ideas and upcoming meetings.”
Be a team, suggests Addo: “When training together, you have to trust in each other’s abilities. Otherwise working out together very quickly becomes one person training the other.”
Pull your weight, says Thuymi Do: “To do what we do, there definitely can be no lazy member of the team.”
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
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