A customer has lunch in a restaurant in Madrid, Spain, Saturday, April 27, 2019. An uncertain outcome and the likelihood of the far-right entering Spain's Parliament looms over national elections on Sunday. AP
A customer has lunch in a restaurant in Madrid, Spain, Saturday, April 27, 2019. An uncertain outcome and the likelihood of the far-right entering Spain's Parliament looms over national elections on Sunday. AP
A customer has lunch in a restaurant in Madrid, Spain, Saturday, April 27, 2019. An uncertain outcome and the likelihood of the far-right entering Spain's Parliament looms over national elections on Sunday. AP
A customer has lunch in a restaurant in Madrid, Spain, Saturday, April 27, 2019. An uncertain outcome and the likelihood of the far-right entering Spain's Parliament looms over national elections on S

Spain set for election marked by far-right resurgence


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Spain returns to the polls on Sunday for uncertain snap elections marked by a resurgence of the far-right after more than four decades on the outer margins of politics.

Opinion polls give outgoing socialist premier Pedro Sanchez a win but without the necessary majority to govern alone, meaning he will have to seek alliances in a political environment that has soured since Catalonia's failed secession bid.

By far the novelty of these elections is the emergence of far-right party Vox, which burst onto the scene in December regional polls in southern Andalusia and looks set to make its first-ever entrance into the national parliament.

Polls predict it could take more than 10 percent of the votes in a country that had no far-right party to speak of since the death of dictator Francisco Franco in 1975, in what is likely to cause further concern in Europe.

Opening at 9:00 am (0700 GMT), polling stations will close at 8:00 pm local time (1800 GMT) with results announced later Sunday.

Mr Sanchez, who took power in June after ousting conservative prime minister Mariano Rajoy in a no-confidence vote, has warned against Spain replicating what happened in Finland's elections two weeks ago.

There, the far-right Finns Party came second, closely tailing the leftist Social Democrats, after polls initially predicted it would end up in fifth position.

In Spain, polls also forecast that Vox, with its ultra-nationalist rhetoric that advocates the "defence of the Spanish nation to the end," will come in fifth place.

But analysts believe it could do better, saying there may be many "hidden" Vox supporters who lie when asked by pollsters who they will be voting for.

"There is a real, true risk," Mr Sanchez warned this week, fearing that a right-wing government supported by Vox emerges in Spain after the elections, even if opinion polls say this is unlikely.

Founded by a former member of the conservative Popular Party (PP), with a strong stance against feminism and illegal immigration, Vox has risen thanks to its hard line against separatists in Catalonia.

The region in northeastern Spain was the scene of a secession attempt in 2017 that sparked the country's biggest crisis in decades and caused major concern in Europe.

Since then, the crisis has continued to cast a pall over Spanish politics.

Mr Sanchez was forced to call Sunday's early elections after Catalan pro-independence lawmakers in the national parliament, angered at the trial of their leaders in Madrid, refused to give him the support he needed for his 2019 budget.

Right-wing parties have for their part lambasted Sanchez, at the head of a minority government, for his attempts to negotiate with Catalan separatists who still govern the region, accusing him of being a traitor.

With no party expected to get anywhere near an absolute majority in what will be the third elections in three-and-a-half years, Spain's fragmented political landscape looks set to continue.

If, as opinion polls predict, Mr Sanchez wins without a majority, he will have to forge alliances with far-left Podemos – as he did over the past 10 months – but also possibly smaller groupings like Catalan separatist parties.

He would rather not have to do that, though, given right-wing parties' accusations that he cosied up with the "enemies of Spain" during his time in government.

A possible alliance with Ciudadanos has not been ruled out, even if the centre-right party's leader Albert Rivera has made "chasing" the socialists from power a "national urgency."

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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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Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood.Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues.Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity.Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.

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Global state-owned investor ranking by size

1.

United States

2.

China

3.

UAE

4.

Japan

5

Norway

6.

Canada

7.

Singapore

8.

Australia

9.

Saudi Arabia

10.

South Korea

Other simple ideas for sushi rice dishes

Cheat’s nigiri 
This is easier to make than sushi rolls. With damp hands, form the cooled rice into small tablet shapes. Place slices of fresh, raw salmon, mackerel or trout (or smoked salmon) lightly touched with wasabi, then press, wasabi side-down, onto the rice. Serve with soy sauce and pickled ginger.

Easy omurice
This fusion dish combines Asian fried rice with a western omelette. To make, fry cooked and cooled sushi rice with chopped vegetables such as carrot and onion and lashings of sweet-tangy ketchup, then wrap in a soft egg omelette.

Deconstructed sushi salad platter 
This makes a great, fuss-free sharing meal. Arrange sushi rice on a platter or board, then fill the space with all your favourite sushi ingredients (edamame beans, cooked prawns or tuna, tempura veggies, pickled ginger and chilli tofu), with a dressing or dipping sauce on the side.

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