Flags of member nations fly outside the United Nations headquarters in New York. AP
Flags of member nations fly outside the United Nations headquarters in New York. AP
Flags of member nations fly outside the United Nations headquarters in New York. AP
Flags of member nations fly outside the United Nations headquarters in New York. AP

UN envoy: Britain optimistic about world role after Brexit


Soraya Ebrahimi
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Britain's new UN ambassador says the government is feeling confident about continuing its role as an important player on the world stage after its departure from the EU.

Barbara Woodward said the UK’s permanent seat on the UN Security Council and its presidency this year of the Group of Seven major industrialised nations were reasons for optimism.

Ms Woodward also listed its membership in the Group of 20 leading economic powers and Nato, and its hosting of the next UN global climate summit in Glasgow, Scotland, in November.

“Don’t underestimate the power of the relationship with the EU,” she told AP.

“There’s a lot of values and principles that we share with European partners, which I think will stand us in good stead.”

Britain’s long and sometimes contentious divorce from the EU became final on December 31.

The split left the 27-member bloc without one of its major economic powers and the UK free to chart its future.

But it is also facing a world trying to confront a deadly pandemic and cope with rising unemployment, a growing wealth gap and a climate crisis.

An article in the US World Politics Review in October identified three visions for Britain's future.

They were “catastrophists who argue that the UK has become completely irrelevant on the international stage as a result of Brexit; the nostalgics, who see a powerful Britain through the lens of a great colonial power; and the denialists, who refuse to accept that Britain must adapt to a changing global context”.

Ben Judah, a British-French journalist and author, and Georgina Wright, a Brexit researcher at the Institute for Government, a UK think tank, said that since Britain voted to leave the EU in 2016, “it is undeniable that both British leadership and influence over global affairs have taken a hit”.

“In international circles, it has become fashionable to be overly dismissive of Britain’s weight in world affairs,” the report authors said. “Yet the country continues to carry weight.”

Ms Woodward, who went to the UN after more than five years as ambassador to China and previously in Russia, agrees.

“We’ve had a pretty introspective three years with Brexit negotiations and managing Covid,” she said.

But with the coming climate summit and Britain’s presidency of the G7 as the group grapples with economic recovery from the pandemic, she believes “I think we’ve got quite a big role to play.”

Ms Woodward said British Prime Minister Boris Johnson was “very keen on multilateralism”.

On December 31, as Britain was leaving the EU, Mr Johnson said the UK was “free to do trade deals around the world, and free to turbocharge our ambition to be a science superpower”.

This month, The Economist  magazine said the UK had the opportunity "to cut a dash on the world stage" with its G7 presidency.

It said that included extending invitations to Australia, India and South Korea to attend the group’s sessions, and hosting the Cop26 in Glasgow, “the most important diplomatic event of the year”.

Mr Johnson is expected to visit India and be Prime Minister Narendra Modi's guest of honour on Republic Day on January 26, "part of a much-touted tilt to the Indo-Pacific'," The Economist said.

It said Britain had also opened discussions to join the 11-nation Trans-Pacific Partnership and was pushing to become a “dialogue partner” of the Association of South-East Asian Nations.

Ms Woodward said the UK’s departure from the EU made the UN and Britain’s permanent Security Council seat “more important because the UN has always been the biggest multilateral forum”.

She spoke of Sunday’s hybrid commemoration of the first meeting of the UN General Assembly in London 75 years ago, which Britain is hosting, and that the world was very different today “but so many of the divisions are perhaps even deeper now”.

Ms Woodward said that in the coming year, three major issues must be tackled:

- Vaccinating rich and poor people everywhere against the coronavirus and taking action to revive economies devastated by the pandemic;

- Making climate change a priority, focusing on preventing temperature rises and raising the billions needed to make progress; and

- Dealing with global security problems.

Ms Woodward said Iran would be a central security concern, whether or not US president-elect Joe Biden rejoined the 2015 nuclear deal between Iran and world powers, from which President Donald Trump pulled out in 2018.

She spoke of the Iranian role in other conflicts, including those in Yemen and Syria.

There are also security problems elsewhere in the Middle East and in Africa, where terrorist attacks in the Sahel are especially worrying, and security questions around protecting digital data.

The relations the new US administration decides to have with its allies in Europe and Nato, and how it builds a relationship with China, would also be critical, Ms Woodward said, as would how well it worked with fellow members of the UN Security Council.

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

THE BIO:

Favourite holiday destination: Thailand. I go every year and I’m obsessed with the fitness camps there.

Favourite book: Born to Run by Christopher McDougall. It’s an amazing story about barefoot running.

Favourite film: A League of their Own. I used to love watching it in my granny’s house when I was seven.

Personal motto: Believe it and you can achieve it.

Results:

2.15pm: Handicap (PA) Dh60,000 1,200m.

Winner: AZ Dhabyan, Adam McLean (jockey), Saleha Al Ghurair (trainer).

2.45pm: Maiden (PA) Dh60,000 1,200m.

Winner: Ashton Tourettes, Sam Hitchcott, Ibrahim Aseel.

3.15pm: Conditions (PA) Dh60,000 2,000m.

Winner: Hareer Al Reef, Gerald Avranche, Abdallah Al Hammadi.

3.45pm: Maiden (PA) Dh60,000 1,700m.

Winner: Kenz Al Reef, Gerald Avranche, Abdallah Al Hammadi.

4.15pm: Sheikh Ahmed bin Rashid Al Maktoum Cup (TB) Dh 200,000 1,700m.

Winner: Mystique Moon, Sam Hitchcott, Doug Watson.

4.45pm: The Crown Prince Of Sharjah Cup Prestige (PA) Dh200,000 1,200m.

Winner: ES Ajeeb, Sam Hitchcott, Ibrahim Aseel.

RESULT

Wolves 1 (Traore 67')

Tottenham 2 (Moura 8', Vertonghen 90 1')

Man of the Match: Adama Traore (Wolves)

WHAT IS GRAPHENE?

It was discovered in 2004, when Russian-born Manchester scientists Andrei Geim and Kostya Novoselov were experimenting with sticky tape and graphite, the material used as lead in pencils.

Placing the tape on the graphite and peeling it, they managed to rip off thin flakes of carbon. In the beginning they got flakes consisting of many layers of graphene. But when they repeated the process many times, the flakes got thinner.

By separating the graphite fragments repeatedly, they managed to create flakes that were just one atom thick. Their experiment led to graphene being isolated for the very first time.

In 2010, Geim and Novoselov were awarded the Nobel Prize for Physics.