Israeli soldiers manuever a tank during a military exercise in the northern part of the Israeli-annexed Golan Heights. AFP
Israeli soldiers manuever a tank during a military exercise in the northern part of the Israeli-annexed Golan Heights. AFP
Israeli soldiers manuever a tank during a military exercise in the northern part of the Israeli-annexed Golan Heights. AFP
Israeli soldiers manuever a tank during a military exercise in the northern part of the Israeli-annexed Golan Heights. AFP

Israeli strikes target Iranian positions in Syria: monitor


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Israeli missile strikes targeted Iranian military positions in the Syrian provinces of Hama and Tartus on Tuesday, the Syrian Observatory for Human Rights monitoring group said.

Syria's state news agency SANA said its air defence systems downed several missiles launched from Israeli warplanes.

The Observatory said missiles struck Wadi Al Oyoun in the central province of Hama, near a scientific research centre which was already targeted by Israeli strikes in July and last year.

Iranian military positions in coastal region of Banias, in the province of Tartus, were also targeted, the Britain-based monitoring organisation said.

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"There was material damage," said Observatory chief Rami Abdel Rahman.

"The air defence system responded to an Israeli aggression carried out by aircraft... that targeted some of our military positions in the provinces of Tartus and Hama," SANA said, quoting a military source.

"Some of the missiles" were downed, the agency said, reporting an initial casualty toll of one dead and four wounded.

The Observatory said several explosions had been heard in the areas around Masyaf and Wadi Al Uyoun near Hama city, areas where there are Iranian military facilities.

Mr Abderahman said the attack had also targeted around the coastal city of Baniyas for the first time, with two rockets hitting around one kilometre from an oil refinery.

An Israeli military spokeswoman declined to comment on the report.

Syrian state television said air defences downed five rockets.

SANA said the planes had come at a low altitude from west of neighbouring Lebanon's coastal capital Beirut.

Reuters journalists in Beirut heard unusually loud aircraft sounds shortly before the strikes were reported in Syrian media.

Lebanon's Al Mayadeen news said Israeli fighter planes released countermeasures against anti-aircraft fire "and withdrew towards the sea at the same time as the sounds of explosions were heard in Hama countryside."

Turkish Ladies

Various artists, Sony Music Turkey 

The National Archives, Abu Dhabi

Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.

Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en

The President's Cake

Director: Hasan Hadi

Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem 

Rating: 4/5

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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COMPANY PROFILE

Name: Xpanceo

Started: 2018

Founders: Roman Axelrod, Valentyn Volkov

Based: Dubai, UAE

Industry: Smart contact lenses, augmented/virtual reality

Funding: $40 million

Investor: Opportunity Venture (Asia)

History's medical milestones

1799 - First small pox vaccine administered

1846 - First public demonstration of anaesthesia in surgery

1861 - Louis Pasteur published his germ theory which proved that bacteria caused diseases

1895 - Discovery of x-rays

1923 - Heart valve surgery performed successfully for first time

1928 - Alexander Fleming discovers penicillin

1953 - Structure of DNA discovered

1952 - First organ transplant - a kidney - takes place 

1954 - Clinical trials of birth control pill

1979 - MRI, or magnetic resonance imaging, scanned used to diagnose illness and injury.

1998 - The first adult live-donor liver transplant is carried out

EA Sports FC 26

Publisher: EA Sports

Consoles: PC, PlayStation 4/5, Xbox Series X/S

Rating: 3/5

Ferrari 12Cilindri specs

Engine: naturally aspirated 6.5-liter V12

Power: 819hp

Torque: 678Nm at 7,250rpm

Price: From Dh1,700,000

Available: Now

The specs

Engine: 2x201bhp AC Permanent-magnetic electric

Transmission: n/a

Power: 402bhp

Torque: 659Nm

Price estimate: Dh200,000

On sale: Q3 2022 

Name: Peter Dicce

Title: Assistant dean of students and director of athletics

Favourite sport: soccer

Favourite team: Bayern Munich

Favourite player: Franz Beckenbauer

Favourite activity in Abu Dhabi: scuba diving in the Northern Emirates 

 

UAE currency: the story behind the money in your pockets
SERIE A FIXTURES

Saturday Benevento v Atalanta (2pm), Genoa v Bologna (5pm), AC Milan v Torino (7.45pm)

Sunday Roma v Inter Milan (3.30pm), Udinese v Napoli, Hellas Verona v Crotone, Parma v Lazio (2pm), Fiorentina v Cagliari (9pm), Juventus v Sassuolo (11.45pm)

Monday Spezia v Sampdoria (11.45pm)

'Munich: The Edge of War'

Director: Christian Schwochow

Starring: George MacKay, Jannis Niewohner, Jeremy Irons

Rating: 3/5