• People line up for a rapid antigen test in front of the historical town hall in Tuebingen, southern Germany. AFP
    People line up for a rapid antigen test in front of the historical town hall in Tuebingen, southern Germany. AFP
  • Travelers wheel luggage as they arrive at Berlin Brandenburg Airport in Berlin, Germany. Bloomberg
    Travelers wheel luggage as they arrive at Berlin Brandenburg Airport in Berlin, Germany. Bloomberg
  • A customer shops in Norbert Kremsreiter's fashion store, which originally sold clothes and food, and now recently toilet paper. Reuters
    A customer shops in Norbert Kremsreiter's fashion store, which originally sold clothes and food, and now recently toilet paper. Reuters
  • Riders of the French cycling team train as a woman receives the Pfizer/BioNTech vaccine at the National Velodrome in Saint-Quentin-en-Yvelines, west of Paris, France. AP Photo
    Riders of the French cycling team train as a woman receives the Pfizer/BioNTech vaccine at the National Velodrome in Saint-Quentin-en-Yvelines, west of Paris, France. AP Photo
  • People take a walk along the Quay of the Seine river in Paris, France. EPA
    People take a walk along the Quay of the Seine river in Paris, France. EPA
  • A patient receives the Pfizer/BioNTech vaccine at the Palais des Sports venue in Lyon, France. AFP
    A patient receives the Pfizer/BioNTech vaccine at the Palais des Sports venue in Lyon, France. AFP
  • French President Emmanuel Macron speaks with employees as he visits a French Social Security call centre dedicated to the coronavirus disease vaccination, in Creteil, France. Reuters
    French President Emmanuel Macron speaks with employees as he visits a French Social Security call centre dedicated to the coronavirus disease vaccination, in Creteil, France. Reuters
  • Dutch police talk to a demonstrator with a sign reading "Media = Brainwash" prior to breaking up a demonstration against coronavirus related government policies in Amsterdam, Netherlands. AP Photo
    Dutch police talk to a demonstrator with a sign reading "Media = Brainwash" prior to breaking up a demonstration against coronavirus related government policies in Amsterdam, Netherlands. AP Photo
  • Not all visitors to the Cherry Blossom Park observe social distancing guidelines in Amstelveen, on the outskirts of Amsterdam, Netherlands. AP Photo
    Not all visitors to the Cherry Blossom Park observe social distancing guidelines in Amstelveen, on the outskirts of Amsterdam, Netherlands. AP Photo
  • Students take part in outdoor lessons to protest against distance learning in Milan, Italy. EPA
    Students take part in outdoor lessons to protest against distance learning in Milan, Italy. EPA
  • Lex is one of the dogs of the canine units usually committed to anti-explosive safety, which will now test, with their sense of smell, for Covid-19 in Rome, Italy. EPA
    Lex is one of the dogs of the canine units usually committed to anti-explosive safety, which will now test, with their sense of smell, for Covid-19 in Rome, Italy. EPA
  • People at a concert in Barcelona, Spain. Five thousand attended the rock concert after passing a same-day Covid-19 screening test. AP Photo
    People at a concert in Barcelona, Spain. Five thousand attended the rock concert after passing a same-day Covid-19 screening test. AP Photo

Germany and France look to Russia for Covid-19 vaccines


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Germany and France turned to Vladimir Putin to supply Russia's Covid-19 vaccine to the EU to get the bloc's struggling inoculation campaign back on track.

French President Emmanuel Macron and German Chancellor Angela Merkel on Tuesday night held a video call with the Russian president to discuss "co-operation" over vaccines that could lead to the Sputnik V shot being used on the continent.

The Kremlin said the leaders discussed Russia’s vaccine and “the possibility of its shipments and joint production in EU nations”.

Europe's medicines regulator began the process of approving the shot this month after announcing a review of clinical data.

Paris and Berlin's talks with Moscow came as Germany limited the use of AstraZeneca's Covid-19 vaccine in people aged under 60 because of a risk of rare blood clots.

Many European countries suspended the use of AstraZeneca's vaccine while investigating blood-clotting incidents reported this month.

Nearly all have since resumed but, breaking with guidance from the European medical regulator, France is offering the drug only to people aged 55 or older.

  • People receive a doses of the BioNTech/Pfizer vaccine at a vaccination clinic set up inside the Derby Arena at Pride Park in Derby. AFP
    People receive a doses of the BioNTech/Pfizer vaccine at a vaccination clinic set up inside the Derby Arena at Pride Park in Derby. AFP
  • A council worker clears up a disposable barbecue in Cannon Hill Park, Birmingham, after yesterday's warm weather and the easing of England's lockdown restrictions saw groups of people congregating in parks. Getty Images
    A council worker clears up a disposable barbecue in Cannon Hill Park, Birmingham, after yesterday's warm weather and the easing of England's lockdown restrictions saw groups of people congregating in parks. Getty Images
  • Bins overflow with rubbish in Battersea Park in south London after yesterday's record breaking warm weather. Getty Images
    Bins overflow with rubbish in Battersea Park in south London after yesterday's record breaking warm weather. Getty Images
  • A woman walks down a hill at Northala fields in London. AP Photo
    A woman walks down a hill at Northala fields in London. AP Photo
  • A health worker administers a dose of the BioNTech/Pfizervaccine at a vaccination clinic inside the Derby Arena. AFP
    A health worker administers a dose of the BioNTech/Pfizervaccine at a vaccination clinic inside the Derby Arena. AFP
  • People walk past a new mural of British veteran and fundraiser Captain Tom Moore by artist Akse P19 in Manchester. Reuters
    People walk past a new mural of British veteran and fundraiser Captain Tom Moore by artist Akse P19 in Manchester. Reuters
  • Members of the public sit outside Winchester Cathedral in Winchester. AFP
    Members of the public sit outside Winchester Cathedral in Winchester. AFP
  • People draw hearts on the National Covid Memorial Wall on the Embankment in central London. AP Photo
    People draw hearts on the National Covid Memorial Wall on the Embankment in central London. AP Photo

The UK government was again forced to defend the AstraZeneca shot as safe and effective after the German decision on Tuesday night.

In Britain, more than 30 million people have received their first dose of a Covid-19 vaccine.

The country on Tuesday recorded 4,040 new cases and 56 deaths, with lockdown starting to ease. In Germany, there were 9,549 new cases and 180 deaths, as a third wave sweeps the continent.

Europe's decision to turn to Russia for Covid-19 vaccines could undermine global pressure on Russia after the country's involvement in several international incidents, such as the Novichok poisonings in Salisbury and the downing of Malaysia Airlines Flight 17 over Ukraine.

Russia is actively marketing Sputnik V abroad despite a slow pace of its vaccination campaign at home, in what some in the EU say is an attempt to score geopolitical points.

French Foreign Minister Jean-Yves Le Drian last week criticised Russia for using its vaccine as a propaganda tool.

“In terms of how it is managed, it [the Sputnik V vaccine] is more a means of propaganda and aggressive diplomacy than a means of solidarity and health aid,” he said.

A health worker fills a syringe from a vial of the Russian Sputnik V Covid-19 vaccine in San Marino. AFP
A health worker fills a syringe from a vial of the Russian Sputnik V Covid-19 vaccine in San Marino. AFP

Ms Merkel said last week Germany would be open to using Sputnik’s vaccine if approved by the regulator.

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

UAE squad to face Ireland

Ahmed Raza (captain), Chirag Suri (vice-captain), Rohan Mustafa, Mohammed Usman, Mohammed Boota, Zahoor Khan, Junaid Siddique, Waheed Ahmad, Zawar Farid, CP Rizwaan, Aryan Lakra, Karthik Meiyappan, Alishan Sharafu, Basil Hameed, Kashif Daud, Adithya Shetty, Vriitya Aravind

The biog

Job: Fitness entrepreneur, body-builder and trainer

Favourite superhero: Batman

Favourite quote: We must become the change we want to see, by Mahatma Gandhi.

Favourite car: Lamborghini

Company profile

Name: Dukkantek 

Started: January 2021 

Founders: Sanad Yaghi, Ali Al Sayegh and Shadi Joulani 

Based: UAE 

Number of employees: 140 

Sector: B2B Vertical SaaS(software as a service) 

Investment: $5.2 million 

Funding stage: Seed round 

Investors: Global Founders Capital, Colle Capital Partners, Wamda Capital, Plug and Play, Comma Capital, Nowais Capital, Annex Investments and AMK Investment Office  

The 12 breakaway clubs

England

Arsenal, Chelsea, Liverpool, Manchester City, Manchester United, Tottenham Hotspur

Italy
AC Milan, Inter Milan, Juventus

Spain
Atletico Madrid, Barcelona, Real Madrid