Handout photo released by the Venezuelan Presidency press office shows President Nicolas Maduro and his wife Cilia Flores watching a military parade on November 20. AFP Photo
Handout photo released by the Venezuelan Presidency press office shows President Nicolas Maduro and his wife Cilia Flores watching a military parade on November 20. AFP Photo
Handout photo released by the Venezuelan Presidency press office shows President Nicolas Maduro and his wife Cilia Flores watching a military parade on November 20. AFP Photo
Handout photo released by the Venezuelan Presidency press office shows President Nicolas Maduro and his wife Cilia Flores watching a military parade on November 20. AFP Photo

Iran ramps up arms transfers to Venezuela and plans regional strife


Robert Tollast
  • English
  • Arabic

Iran has ramped up weapons transfers, via sea and air, to the government of Nicolas Maduro in Venezuela, according to US Admiral Craig Faller.

Co-operation between the staunchly anti-American regimes is not unusual, but Adm Faller, who spoke to The Wall Street Journal on Thursday, said arms transfers could be part of a plan to threaten US interests across South America.

“We’re real concerned about what Iran is up to, not just globally, but here in this hemisphere,” Adm Faller said.

Iran has said it will retaliate not only for last Friday’s assassination of Iranian scientist Mohsen Fakhrizadeh but also for the death of high-ranking general Qassem Suleimani, who was killed in a US drone strike in Baghdad on January 3.

Any attack in response to these killings may not necessarily occur in the Middle East.

One of two Iranian airlines alleged to be supplying Mr Maduro with arms is Mahan Air. The US imposed sanctions on the civilian airline in October 2011, after Washington accused it of working on behalf of the Islamic Revolutionary Guard Corps to supply the forces of President Bashar Al Assad in Syria.

In October, an aircraft belonging to Qeshm Fars Air, also under US sanctions, landed in Caracas, showed the flight-tracking website Flightradar24.

New capabilities

Financial challenges facing Caracas and Tehran, which have worsened in 2020, could explain one area of reported co-operation – drones.

Conflicts such as the recent Nagorno-Karabakh war have shown that relatively inexpensive unmanned aerial vehicles (UAVs) can be devastating in a conventional conflict. No military power has yet developed proven countermeasures.

"Iranian arms transfers to Venezuela, especially UAV technology, would be a grave concern for the US and regional stability," said Ryan Berg, a research fellow at The American Enterprise Institute and specialist on security in Latin America.

"In the wake of another prominent assassination of someone linked to Iran's nuclear program, it is important to note that Iran has strategically penetrated several areas of South America, making retaliation for such a strike possible," he said.

"Through proxy groups like Hezbollah, the Iranians have struck in South America before, most devastatingly in Buenos Aires in 1992 and again in 1994," added Mr Berg, referring to devastating terrorist attacks targeting the Israeli embassy and a Jewish community group, killing over 100 people.

Drones would be particularly attractive to Venezuela, which has spent billions on more conventional Russian weapons such as the S-400 anti-missile system, equipment thought by some to be inoperable due to a lack of funds. But this has not stopped Mr Maduro from deploying his forces in the Caribbean, sending anti-aircraft missiles to the island of Orchila in May.

Mr Maduro also announced that his country was developing its own drones, technology on which Iran and Venezuela have been co-operating since 2012.

During a televised speech by Mr Maduro, made in an aircraft hangar on November 20, analysts noted what appeared to be a model of an Iranian Mohajer-6 unmanned combat aerial vehicle.

This suggests Tehran is serious about helping Venezuela to develop more nimble capabilities to complement its underfunded conventional military.

Caribbean attack?

Iran claims one of its recent drones, the Kian, has a 965-kilometre range, which means that Tehran could – if the IRGC desire, harass US interests or those of its allies across much of the Caribbean, as Iran has targeted US interests, including the oil infrastructure of allies, across the Gulf.

If Iran decides to strike US interests in the Caribbean, the IRGC could claim innocence, particularly if forces loyal to Mr Maduro have the equipment to conduct the attack.

Tehran has used similar tactics in Iraq and Yemen. After missiles struck oil processing infrastructure at Abqaiq in Saudi Arabia in September 2019 – one of the largest attacks on oil infrastructure in history – Iran denied any role. Houthi militias, backed by Iran, claimed credit, but a UN report in June 2020 concluded the missiles used in the attack were "of Iranian origin".

Militia franchise

In 2010, a partially redacted Pentagon report was released to Congress, stating that the IRGC had established networks “in Latin America, particularly Venezuela”.

Whatever Iran’s intentions – to supply fuel and condensate for Mr Maduro’s ailing regime in exchange for Venezuelan gold, or something more hostile, Tehran’s involvement is quickly reaching an advanced stage.

In September, former chief commander of the IRGC, Maj Gen Yahya Rahim Safavi told the state-run Mehr News Agency that Iranian advisers were creating a “popular force” of militias in Venezuela.

Caracas already has a large force of paramilitaries, akin to Iran’s Basij militia and Iran-backed elements of Iraq's Popular Mobilisation Forces. These groups have taken part in brutal crackdowns on demonstrators.

Even if Tehran’s aims are not openly hostile to US interests in the Caribbean, Iranian assistance to Venezuela will likely strengthen Mr Maduro’s rule.

The arms transfers are "bad news for average Venezuelans, as their government prioritises buying weapons over attending to the country's unfolding humanitarian crisis," said Mr Berg.

The specs
Engine: 2.0-litre 4-cyl turbo

Power: 201hp at 5,200rpm

Torque: 320Nm at 1,750-4,000rpm

Transmission: 6-speed auto

Fuel consumption: 8.7L/100km

Price: Dh133,900

On sale: now 

KLOPP%20AT%20LIVERPOOL
%3Cp%3EYears%3A%20October%202015%20-%20June%202024%3Cbr%3ETotal%20games%3A%20491%3Cbr%3EWin%20percentage%3A%2060.9%25%3Cbr%3EMajor%20trophies%3A%206%20(Premier%20League%20x%201%2C%20Champions%20League%20x%201%2C%20FA%20Cup%20x%201%2C%20League%20Cup%20x%202%2C%20Fifa%20Club%20World%20Cup%20x1)%3C%2Fp%3E%0A
Fines for littering

In Dubai:

Dh200 for littering or spitting in the Dubai Metro

Dh500 for throwing cigarette butts or chewing gum on the floor, or littering from a vehicle. 
Dh1,000 for littering on a beach, spitting in public places, throwing a cigarette butt from a vehicle

In Sharjah and other emirates
Dh500 for littering - including cigarette butts and chewing gum - in public places and beaches in Sharjah
Dh2,000 for littering in Sharjah deserts
Dh500 for littering from a vehicle in Ras Al Khaimah
Dh1,000 for littering from a car in Abu Dhabi
Dh1,000 to Dh100,000 for dumping waste in residential or public areas in Al Ain
Dh10,000 for littering at Ajman's beaches 

TO A LAND UNKNOWN

Director: Mahdi Fleifel

Starring: Mahmoud Bakri, Aram Sabbah, Mohammad Alsurafa

Rating: 4.5/5

Gulf Under 19s final

Dubai College A 50-12 Dubai College B

11 cabbie-recommended restaurants and dishes to try in Abu Dhabi

Iqbal Restaurant behind Wendy’s on Hamdan Street for the chicken karahi (Dh14)

Pathemari in Navy Gate for prawn biryani (from Dh12 to Dh35)

Abu Al Nasar near Abu Dhabi Mall, for biryani (from Dh12 to Dh20)

Bonna Annee at Navy Gate for Ethiopian food (the Bonna Annee special costs Dh42 and comes with a mix of six house stews – key wet, minchet abesh, kekel, meser be sega, tibs fir fir and shiro).

Al Habasha in Tanker Mai for Ethiopian food (tibs, a hearty stew with meat, is a popular dish; here it costs Dh36.75 for lamb and beef versions)

Himalayan Restaurant in Mussaffa for Nepalese (the momos and chowmein noodles are best-selling items, and go for between Dh14 and Dh20)

Makalu in Mussaffa for Nepalese (get the chicken curry or chicken fry for Dh11)

Al Shaheen Cafeteria near Guardian Towers for a quick morning bite, especially the egg sandwich in paratha (Dh3.50)

Pinky Food Restaurant in Tanker Mai for tilapia

Tasty Zone for Nepalese-style noodles (Dh15)

Ibrahimi for Pakistani food (a quarter chicken tikka with roti costs Dh16)

The%20specs
%3Cp%3E%3Cstrong%3EPowertrain%3A%20%3C%2Fstrong%3ESingle%20electric%20motor%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E201hp%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E310Nm%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3ESingle-speed%20auto%0D%3Cbr%3E%3Cstrong%3EBattery%3A%20%3C%2Fstrong%3E53kWh%20lithium-ion%20battery%20pack%20(GS%20base%20model)%3B%2070kWh%20battery%20pack%20(GF)%0D%3Cbr%3E%3Cstrong%3ETouring%20range%3A%20%3C%2Fstrong%3E350km%20(GS)%3B%20480km%20(GF)%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh129%2C900%20(GS)%3B%20Dh149%2C000%20(GF)%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%3C%2Fstrong%3E%20Now%3C%2Fp%3E%0A
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

MATCH INFO

Rugby World Cup (all times UAE)

Final: England v South Africa, Saturday, 1pm

BMW%20M4%20Competition
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E3.0%20twin-turbo%20inline%20six-cylinder%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%3C%2Fstrong%3E%20eight-speed%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E503hp%0D%3Cbr%3E%3Cstrong%3ETorque%3A%3C%2Fstrong%3E%20600Nm%0D%3Cbr%3E%3Cstrong%3EPrice%3A%3C%2Fstrong%3E%20from%20Dh617%2C600%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%3C%2Fstrong%3E%20Now%0D%3C%2Fp%3E%0A
Volvo ES90 Specs

Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)

Power: 333hp, 449hp, 680hp

Torque: 480Nm, 670Nm, 870Nm

On sale: Later in 2025 or early 2026, depending on region

Price: Exact regional pricing TBA

MATCH INFO

Liverpool 4 (Salah (pen 4, 33', & pen 88', Van Dijk (20')

Leeds United 3 (Harrison 12', Bamford 30', Klich 66')

Man of the match Mohamed Salah (Liverpool)

The specs

Engine: 4.0-litre V8 twin-turbocharged and three electric motors

Power: Combined output 920hp

Torque: 730Nm at 4,000-7,000rpm

Transmission: 8-speed dual-clutch automatic

Fuel consumption: 11.2L/100km

On sale: Now, deliveries expected later in 2025

Price: expected to start at Dh1,432,000

RESULTS

5pm: Maiden (PA) Dh80,000 1,600m
Winner: Raghida, Szczepan Mazur (jockey), Ibrahim Al Hadhrami (trainer)
5.30pm: Maiden (PA) Dh80,000 1,600m
Winner: AF Alareeq, Connor Beasley, Ahmed Al Mehairbi
6pm: Arabian Triple Crown Round-2 Group 3 (PA) Dh300,000 2,200m 
Winner: Basmah, Fabrice Veron, Eric Lemartinel
6.30pm: Liwa Oasis Group 2 (PA) Dh300,000 1,400m
Winner: AF Alwajel, Tadhg O’Shea, Ernst Oertel
7pm: Wathba Stallions Cup Handicap (PA) Dh70,000 1,600m
Winner: SS Jalmod, Richard Mullen, Satish Seemar
7.30pm: Handicap (TB) Dh100,000 1,600m
Winner: Trolius, Ryan Powell, Simon Crisford

Other workplace saving schemes
  • The UAE government announced a retirement savings plan for private and free zone sector employees in 2023.
  • Dubai’s savings retirement scheme for foreign employees working in the emirate’s government and public sector came into effect in 2022.
  • National Bonds unveiled a Golden Pension Scheme in 2022 to help private-sector foreign employees with their financial planning.
  • In April 2021, Hayah Insurance unveiled a workplace savings plan to help UAE employees save for their retirement.
  • Lunate, an Abu Dhabi-based investment manager, has launched a fund that will allow UAE private companies to offer employees investment returns on end-of-service benefits.
MATCH INFO

Rajasthan Royals 158-8 (20 ovs)
Kings XI Punjab 143/7 (20 ovs)

Rajasthan Royals won by 15 runs

The specs: 2018 Volkswagen Teramont

Price, base / as tested Dh137,000 / Dh189,950

Engine 3.6-litre V6

Gearbox Eight-speed automatic

Power 280hp @ 6,200rpm

Torque 360Nm @ 2,750rpm

Fuel economy, combined 11.7L / 100km

Champions parade (UAE timings)

7pm Gates open

8pm Deansgate stage showing starts

9pm Parade starts at Manchester Cathedral

9.45pm Parade ends at Peter Street

10pm City players on stage

11pm event ends

ASIAN%20RUGBY%20CHAMPIONSHIP%202024
%3Cp%3E%3Cstrong%3EResults%3C%2Fstrong%3E%3Cbr%3EHong%20Kong%2052-5%20UAE%3Cbr%3ESouth%20Korea%2055-5%20Malaysia%3Cbr%3EMalaysia%206-70%20Hong%20Kong%3Cbr%3EUAE%2036-32%20South%20Korea%3Cbr%3E%3Cbr%3E%3Cstrong%3EFixtures%3C%2Fstrong%3E%3Cbr%3EFriday%2C%20June%2021%2C%207.30pm%20kick-off%3A%20UAE%20v%20Malaysia%3Cbr%3EAt%20The%20Sevens%2C%20Dubai%20(admission%20is%20free).%3Cbr%3ESaturday%3A%20Hong%20Kong%20v%20South%20Korea%3Cbr%3E%3C%2Fp%3E%0A