The US government announced a $10 million reward for information on a Hezbollah financing network to coincide with 37th anniversary of a bomb attack on a Marines barracks in Beirut.
“Help us cut the money flow between Iran and the Lebanese Hezbollah terrorist group,” the State Department’s Reward for Justice programme tweeted on Friday.
The US is seeking information on the activities, networks, and associates of Hezbollah that form a part of its financial support. Specifically it mentioned three key financiers: Muhammad Qasir, Muhammad Qasim Al Bazzal, and Ali Qasir.
Mr Qasir is a “critical link” between the group and its primary funder, Iran, the US said.
“He has been a significant conduit for financial disbursements from Iran’s Islamic Revolutionary Guard Corps (IRGC) – Quds Force (IRGC-QF) to Hezbollah,” the State Department said.
His role, according to the US, involves overseeing front companies to hide IRGC activities in selling oil and gas, and as a way to evade US sanctions. “Qasir directs the Hezbollah unit that assists in the transfer of weapons, technology and other support from Syria to Lebanon,” it added.
Mr Al Bazzal appears to be more active in Syria and in oil as well as aluminium shipments, the State Department said. “A co-founder of the Syria-based Talaqi Group and oversees other terrorist financing enterprises, such as Hokoul SAL Offshore and Nagham Al Hayat. Since late 2018, Al Bazzal has used the Talaqi Group and his other companies to finance, coordinate and obscure various illicit IRGC-QF-linked oil shipments.”
Ali Qasir is the managing director of the Talaqi Group that Mr Bazzal co-founded and a liaison for illicit shipments between Iran, Lebanon and Syria. “Ali Qasir has overseen sales price negotiations and collaborated to cover expenses and to facilitate an Iranian oil shipment by Adrian Darya 1 for the benefit of the IRGC.” Adrian Darya 1 is the super tanker from Iran that the US was tracking in 2019 and has reportedly transferred its oil to Syria in September last year.
All three individuals have previously been designated by the US, but the reward comes on the anniversary of the 1983 Beirut barracks bombings. US Secretary of State Mike Pompeo issued a statement committing to disrupt Hezbollah’s and Iran’s networks.
“On October 23, 1983, Hezbollah carried out a suicide bombing targeting the United States Marine Barracks in Beirut, claiming the lives of 241 American service members…We will never forget their sacrifice,” Mr Pompeo said. Hezbollah has not claimed public responsibility for the attack.
“We renew our commitment to preventing Hezbollah and its sponsor Iran from spilling more innocent blood in Lebanon or anywhere in the world.”
On Thursday, the US sanctioned two members of the Central Council of Hezbollah, Nabil Qaouk and Hassan Al Baghdadi.
UAE cricketers abroad
Sid Jhurani is not the first cricketer from the UAE to go to the UK to try his luck.
Rameez Shahzad Played alongside Ben Stokes and Liam Plunkett in Durham while he was studying there. He also played club cricket as an overseas professional, but his time in the UK stunted his UAE career. The batsman went a decade without playing for the national team.
Yodhin Punja The seam bowler was named in the UAE’s extended World Cup squad in 2015 despite being just 15 at the time. He made his senior UAE debut aged 16, and subsequently took up a scholarship at Claremont High School in the south of England.
MATCH INFO
Aston Villa 1 (Konsa 63')
Sheffield United 0
Red card: Jon Egan (Sheffield United)
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
