A fire broke out on Tuesday morning at the Zaha Hadid building in central Beirut. Videos on social media showed firefighters attempting to extinguish the flames as smoke billowed from the building and over the Hilton hotel next door.
Crowds gathered around the famous building, designed by celebrated architect Dame Zaha Hadid, as parts of the external wall fell away in the flames.
The Lebanese Civil Defence has announced that the flames are now under control. There have been no injuries reported so far.
It was not immediately clear what caused the fire at the futuristic seafront building, which sits on the main road that runs past the port.
This is the second time in less than a week that the city has suffered a major fire. Last Thursday, a blaze broke out at Beirut port, destroying a warehouse storing aid and sending a thick plume of smoke over the city.
The latest fire appears to have engulfed part of the historic souk area in the centre of Beirut. The Zaha Hadid building, a new commercial complex designed by the late British-Iraqi architect, has been under construction for years and was nearing completion when the fire broke out.
The Lebanese capital is still reeling from the huge explosion that killed almost 200 people and injured more than 6,000 on August 4. The blast, which laid waste to swathes of the city and left around 300,000 homeless, prompted the government to resign six days later.
The country is facing an unprecedented economic crisis and financial collapse, blamed on decades of mismanagement and corruption by an entrenched political class.
Last month’s blast – caused by nearly 3,000 tonnes of ammonium nitrate being improperly stored at the port for years – is seen as the culmination of leaders unable to manage the country’s affairs or protect its people.
So far, authorities have been unable to provide answers about the explosion, and there has been no accountability for it.
Last week's fire prompted terrified residents to open their windows and take refuge in corridors fearing a repeat of the August 4 explosion.
It's unclear what sparked the flames last week, which reignited on Saturday before being fully extinguished.
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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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