Emmanuel Macron says pandemic has taught us how vulnerable humanity is


Neil Murphy
  • English
  • Arabic

French president Emmanuel Macron said coronavirus has reminded humanity of its vulnerability to disease and climate change, as he called on society to learn the lessons from the past year.

Mr Macron told the World Economic Forum by video link that the effects of the pandemic would be felt for “months and years”.

“The first thing to say is that you cannot think economy without thinking about human beings,” he said.

“It might seem rather banal to say that, but in all of our countries we've done something that was unthinkable before. We stopped all economic activities to save lives.”

President Macron attended the virtual Davos summit by video link from the Elysee Palace in Paris. AFP.
President Macron attended the virtual Davos summit by video link from the Elysee Palace in Paris. AFP.

Mr Macron said the past year showed the world that pandemics and climatic events were not a “distant idea”, and that they could have an effect on our everyday lives.

“We cannot build anything in the post-Covid world without learning the lessons from our experience,” he said.

“Our societies are vulnerable. Nature is reminding us we are vulnerable to a pandemic or climate events. The economy of tomorrow is strengthened by these lessons.”

Mr Macron said humanity was at “the start of a technological revolution”, with artificial intelligence and quantum computing likely to play a huge role in addressing these issues.

But it will also have an effect on democracy, illustrated by the riot at the US Capitol this month, he said.

Mr Macron said countries had not lived up to their Paris climate accord obligations but that now was a good moment to “revise upwards” their commitment to cutting carbon emissions.

“At this point, we have not lived up to our commitments, all of us," he said.

"So our top priority is to do our utmost to stay true to our commitments. There cannot be any freeloaders.

“When the US decided to leave the Paris Agreement in 2017, there was a major risk, but I see that the house of cards has not tumbled.”

Mr Macron also stressed the need to set up a global biodiversity agreement, echoing calls by EU Commission President Ursula von der Leyen earlier in the day.

“What we are doing for climate we need to do for biodiversity," he said.

"This will entail changes in agricultural production and in the very way that we consume and live."

Mr Macron said the world must move beyond the "Washington consensus", as he backed calls by Angela Merkel for a more multilateral approach.

“We need to find a new mode of co-operation between states," he said. "This was stymied by the previous US administration, which did not believe in it.

“I have a lot of hope for this new year with our American partner, which I hope is about to re-engage with us."

Then and now: Davos in 2020 and 2021

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Richarlison 13'), Sigurdsson 28', ​​​​​​​Digne 56', Walcott 64'

Manchester United 0

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UAE currency: the story behind the money in your pockets
'Moonshot'

Director: Chris Winterbauer

Stars: Lana Condor and Cole Sprouse 

Rating: 3/5

The%20specs
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E2.3-litre%20turbo%204-cyl%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E10-speed%20auto%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E298hp%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E452Nm%3Cbr%3E%3Cstrong%3ETowing%20capacity%3A%20%3C%2Fstrong%3E3.4-tonne%3Cbr%3E%3Cstrong%3EPayload%3A%20%3C%2Fstrong%3E4WD%20%E2%80%93%20776kg%3B%20Rear-wheel%20drive%20819kg%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EPrice%3A%20Dh138%2C945%20(XLT)%20Dh193%2C095%20(Wildtrak)%3Cbr%3E%3Cstrong%3EDelivery%3A%3C%2Fstrong%3E%20from%20August%3C%2Fp%3E%0A
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Engine: 2.0-litre 4cyl turbo

Power: 248hp at 5,200rpm

Torque: 400Nm at 1,750-4,000rpm

Transmission: 8-speed auto

Fuel consumption: 9.1L/100km

On sale: Now

Price: From Dh149,900

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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.

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Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations. 

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Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

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Power: 268bhp / 536bhp
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Transmission: Single-speed automatic
Max touring range: 620km / 590km
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