Vladimir Putin's Russia and Recep Tayyip Erdogan's Turkey are on opposite sides in both Syria and Libya. AP Photo
Vladimir Putin's Russia and Recep Tayyip Erdogan's Turkey are on opposite sides in both Syria and Libya. AP Photo
Vladimir Putin's Russia and Recep Tayyip Erdogan's Turkey are on opposite sides in both Syria and Libya. AP Photo
Vladimir Putin's Russia and Recep Tayyip Erdogan's Turkey are on opposite sides in both Syria and Libya. AP Photo

Russia-Turkey talks on Libya and Syria postponed


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An expected visit to Turkey by Russia's Foreign Minister Sergei Lavrov and Defence Minister Sergei Shoigu on Sunday has been postponed, with no reason or rescheduled date given.

Turkish Foreign Minister Mevlut Cavusoglu and Mr Lavrov decided to put off the talks during a phone call on Sunday, the Turkish Foreign Ministry said.

The visit was announced on Saturday by the two countries' foreign ministries, with Syria and Libya expected to feature high on the agenda.

Libya has been in turmoil since 2011, when a civil war toppled long-time dictator Muammar Qadhafi, who was later killed, while Syria is facing fresh protests in the face of a spiralling economic crisis.

Iranian Foreign Minister Javad Zarif was also due to visit Istanbul for talks with Mr Cavusoglu on Monday before travelling to Moscow, Iran’s Mehr news agency reported.

Turkey, Iran and Russia are behind the Astana process, an effort to end Syria’s nine-year civil war. While Turkey backs militias opposed to Syrian President Bashar Al Assad, Russia and Iran have propped up his regime, enabling it to retake most territory apart from Idlib in the northwest.

Russia and Turkey agreed a cease-fire in Idlib in early March that halted the Syrian government’s three-month air and ground campaign. Suspected Russian airstrikes hit villages on the edge of Idlib on Tuesday, activists said, following fighting between insurgents and government forces in the region’s south.

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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

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Ten10 Cricket League

Venue and schedule Sharjah Cricket Stadium, December 14 to 17

Teams

Maratha Arabians Leading player: Virender Sehwag; Top picks: Mohammed Amir, Imad Wasim; UAE players: Shaiman Anwar, Zahoor Khan

Bengal Lions Leading player: Sarfraz Ahmed; Top picks: Sunil Narine, Mustafizur Rahman; UAE players: Mohammed Naveed, Rameez Shahzad

Kerala Kings Leading player: Eoin Morgan; Top picks: Kieron Pollard, Sohail Tanvir; UAE players: Rohan Mustafa, Imran Haider

Pakhtoons Leading player: Shahid Afridi; Top picks: Fakhar Zaman, Tamim Iqbal; UAE players: Amjad Javed, Saqlain Haider

Punjabi Legends Leading player: Shoaib Malik; Top picks: Hasan Ali, Chris Jordan; UAE players: Ghulam Shabber, Shareef Asadullah

Team Sri Lanka Cricket Will be made up of Colombo players who won island’s domestic limited-overs competition

Defending champions

World Series: South Africa
Women’s World Series: Australia
Gulf Men’s League: Dubai Exiles
Gulf Men’s Social: Mediclinic Barrelhouse Warriors
Gulf Vets: Jebel Ali Dragons Veterans
Gulf Women: Dubai Sports City Eagles
Gulf Under 19: British School Al Khubairat
Gulf Under 19 Girls: Dubai Exiles
UAE National Schools: Al Safa School
International Invitational: Speranza 22
International Vets: Joining Jack

UAE currency: the story behind the money in your pockets