LONDON // As anti-capitalist demonstrators gathered in Belfast, Northern Ireland, to protest against the G8 summit starting today, a familiar annual ritual of discontent seemed to be playing itself out again.
The protesters carried signs and shouted slogans calling for an end to world poverty and deploring first-world greed.
But something is different this year - neither demonstrators nor summit participants seem to know anymore what the G8 is for.
What was once a forum for the world's economic powerhouses to discuss lofty global intentions seems likely this year to be dominated by machinations over Syria.
Barack Obama, the US president, and Vladimir Putin, the Russian president, are to hold a private meeting today before the summit opens. The meeting assumes heightened significance following the US decision last week to extend military support to rebels seeking to overthrow the Syrian president, Bashar Al Assad, of whom Russia remains a staunch ally.
Moscow has been highly critical of the US decision, which it maintains is based on a flawed premise that the Syrian military has used chemical weapons during the two-year civil war.
After talks yesterday with David Cameron, the British prime minister and this year's G8 president, Mr Putin questioned why the West would want to arm "people who not only kill their enemies, but open up their bodies, eat their intestines", referring to internet footage of a rebel soldier eating what appeared to be the heart of a government soldier.
Mr Putin said he wanted to help broker a peace deal for Syria, but Mr Cameron admitted that there were "very big differences" between Russia and Britain's perceptions of the situation there.
Meetings between G8 members in favour of arming the rebels - including Britain and France - and those opposed, such as Germany, will overshadow any other agreements reached during the summit.
The diminished expectations are a break with the political theatre of summits past, which saw high-minded pledges to end global ills.
Mr Cameron addressed poverty and hunger - stalwart issues of summits past - at the G8 Nutrition for Growth conference in London on June 8.
This was familiarly grand territory. Mr Cameron's predecessor, Gordon Brown, tried to tackle the global financial crisis at a G20 summit in 2009. And Mr Brown's predecessor, Tony Blair, vowed to "make poverty history" when Britain last chaired the G8 in 2005.
But the official aims for this year's G8 are far more low key. The focus is on what Mr Cameron described in London last Wednesday as the "vital drivers of growth" - trade, tax and transparency.
Another "T", terrorism, is also on the agenda.
A less grandiose approach partly reflects the waning importance of the G8, whose traditional make-up is increasingly anachronistic, analysts argue. Without China and other emerging powers such as India and Brazil, or Saudi Arabia, the world's largest oil producer, it is increasingly difficult to pass off the grouping of the US, Britain, France, Germany, Japan, Italy, Canada and Russia as the world's economic powerhouse.
Mr Cameron conceded as much on Wednesday, noting the growing importance of the G20 and describing the G8 as having "gone back a bit to what it used to be … more of an informal conversation".
Yet even previous G8 summits had a decidedly mixed track record in achieving their many promises.
A 2009 commitment to contribute US$20 billion (Dh73.5bn) to tackle world hunger, for instance, was widely welcomed. To date, however, only 22 per cent of that money has been delivered, according to Action Aid, a non-governmental organisation.
Meanwhile, the summit's achievements, such as the creation of an international database on paedophiles and information-sharing on terrorism, could have come to fruition without a summit, argued Tom Papworth, the associate director of economic policy at Centre Forum, a liberal think tank based in London.
On the streets of Belfast, activists seem to also have lower expectations. On Saturday, a little more than 1,000 protesters showed up, far fewer than in past years.
In 2001, for instance, about 200,000 antiglobalisation protesters gathered at the G8 summit in Genoa, Italy, with riots, mass arrests, hundreds of wounded and one death, a young Italian anarchist. In Edinburgh, Scotland, in 2005, 250,000 people turned out to protest the gathering.
This year's summit will continue to attract protests, of course, and produce some headline-grabbing promises. It may even result in agreements to try to stamp out tax avoidance and evasion by major companies.
But the real significance of the gathering this year may lie more in what G8 summits can no longer be about - huge promises on global issues and protests of equally significant discontent. Their efficacy as an opportunity for world leaders to tackle issues in an informal manner, as Mr Cameron seems to want, will be sorely tested by Syria.
okarmi@thenational.ae
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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
EMERGENCY PHONE NUMBERS
Estijaba – 8001717 – number to call to request coronavirus testing
Ministry of Health and Prevention – 80011111
Dubai Health Authority – 800342 – The number to book a free video or voice consultation with a doctor or connect to a local health centre
Emirates airline – 600555555
Etihad Airways – 600555666
Ambulance – 998
Knowledge and Human Development Authority – 8005432 ext. 4 for Covid-19 queries
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UAE's role in anti-extremism recognised
General John Allen, President of the Brookings Institution research group, commended the role the UAE has played in the fight against terrorism and violent extremism.
He told a Globsec debate of the UAE’s "hugely outsized" role in the fight against Isis.
"It’s trite these days to say that any country punches above its weight, but in every possible way the Emirates did, both militarily, and very importantly, the UAE was extraordinarily helpful on getting to the issue of violent extremism," he said.
He also noted the impact that Hedayah, among others in the UAE, has played in addressing violent extremism.
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Name: Peter Dicce
Title: Assistant dean of students and director of athletics
Favourite sport: soccer
Favourite team: Bayern Munich
Favourite player: Franz Beckenbauer
Favourite activity in Abu Dhabi: scuba diving in the Northern Emirates
Our family matters legal consultant
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Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Our family matters legal consultant
Name: Hassan Mohsen Elhais
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Our family matters legal consultant
Name: Hassan Mohsen Elhais
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UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
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GIANT REVIEW
Starring: Amir El-Masry, Pierce Brosnan
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Where to donate in the UAE
The Emirates Charity Portal
You can donate to several registered charities through a “donation catalogue”. The use of the donation is quite specific, such as buying a fan for a poor family in Niger for Dh130.
The General Authority of Islamic Affairs & Endowments
The site has an e-donation service accepting debit card, credit card or e-Dirham, an electronic payment tool developed by the Ministry of Finance and First Abu Dhabi Bank.
Al Noor Special Needs Centre
You can donate online or order Smiles n’ Stuff products handcrafted by Al Noor students. The centre publishes a wish list of extras needed, starting at Dh500.
Beit Al Khair Society
Beit Al Khair Society has the motto “From – and to – the UAE,” with donations going towards the neediest in the country. Its website has a list of physical donation sites, but people can also contribute money by SMS, bank transfer and through the hotline 800-22554.
Dar Al Ber Society
Dar Al Ber Society, which has charity projects in 39 countries, accept cash payments, money transfers or SMS donations. Its donation hotline is 800-79.
Dubai Cares
Dubai Cares provides several options for individuals and companies to donate, including online, through banks, at retail outlets, via phone and by purchasing Dubai Cares branded merchandise. It is currently running a campaign called Bookings 2030, which allows people to help change the future of six underprivileged children and young people.
Emirates Airline Foundation
Those who travel on Emirates have undoubtedly seen the little donation envelopes in the seat pockets. But the foundation also accepts donations online and in the form of Skywards Miles. Donated miles are used to sponsor travel for doctors, surgeons, engineers and other professionals volunteering on humanitarian missions around the world.
Emirates Red Crescent
On the Emirates Red Crescent website you can choose between 35 different purposes for your donation, such as providing food for fasters, supporting debtors and contributing to a refugee women fund. It also has a list of bank accounts for each donation type.
Gulf for Good
Gulf for Good raises funds for partner charity projects through challenges, like climbing Kilimanjaro and cycling through Thailand. This year’s projects are in partnership with Street Child Nepal, Larchfield Kids, the Foundation for African Empowerment and SOS Children's Villages. Since 2001, the organisation has raised more than $3.5 million (Dh12.8m) in support of over 50 children’s charities.
Noor Dubai Foundation
Sheikh Mohammed bin Rashid Al Maktoum launched the Noor Dubai Foundation a decade ago with the aim of eliminating all forms of preventable blindness globally. You can donate Dh50 to support mobile eye camps by texting the word “Noor” to 4565 (Etisalat) or 4849 (du).
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The Perfect Couple
Starring: Nicole Kidman, Liev Schreiber, Jack Reynor
Creator: Jenna Lamia
Rating: 3/5