Iran's Supreme Leader Ayatollah Ali Khamenei said on Wednesday that his government should abandon the nuclear deal if it was no longer in the country's interest, putting pressure on Europe to reaffirm their commitment to positive relations with the country.
"The JCPOA (nuclear deal) is not the objective, it is only a means," he said in a meeting with the cabinet and President Hassan Rouhani.
"Naturally, if we reach the conclusion that it is no longer maintaining our national interests, we will put it aside."
The threat comes amid a lack of clarity on the future of the 2015 nuclear deal after the United States pulled out in May, leaving European allies torn between loyalty to the US and the maintenance of the deal.
Mr Khamenei said "hope should be abandoned" in relation to the nuclear deal, presenting Europe with the choice of reaffirming their commitment to the deal or risk losing it altogether.
“There is no problem with continuing relations and negotiations with Europe, but hope should be abandoned regarding matters such as the nuclear deal,” Mr Khamenei said in the meeting.
He also said he would not negotiate with "indecent" US officials at any level. But the economic costs of US sanctions are starting to bite, with high unemployment, a weak currency, and rising prices hitting Iranians.
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On Tuesday, while answering in parliament questions on Iran's deteriorating economy, President Rouhani, promised to defeat "anti-Iranian" officials in the White House, placing the blame for the country's economic woes at the feet of US President Donald Trump.
The US pulled out of the deal at the request of Mr Trump, who has since issued a warning to America's trade partners saying they must choose between trading with the US or Iran.
Tehran is seeking to clarify the position of European partners on the deal before the next round of US sanctions come into effect on November 4, which will target energy sectors and make it harder to make international payments to Iranian businesses.
European officials have enacted legislation to ban compliance with US sanctions, but a number of European companies have already withdrawn from deals with Iran, and many more are investing in finding more ways of circumnavigating the sanctions.
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
