Washington said on Wednesday it had provided Iraq’s army with dozens of armoured vehicles to secure the Green Zone before the first anniversary of the killing of Iranian general Qassem Suleimani.
The area, located within Iraq’s capital Baghdad, is where the US and several other western countries’ embassies and government buildings are positioned. It is relatively well known as a safe zone but has been the target of continuous rocket attacks during the last year.
“We are committed to assist the Iraqi army in maintaining the country’s security. To achieve this goal, the United States provided the Iraqi army with 30 armoured cars to help secure the international zone,” the US embassy in Baghdad said in a statement published on Facebook.
The vehicles were given to the Special Command Division at Al Assad Air Base, and will be used by the Iraqi military in their patrols, the statement said.
Suleimani was assassinated in a US air strike on January 3, 2020, in Baghdad, that also killed Iraqi militia leader Abu Mahdi Al Muhandis.
The provision of the vehicles is part of “larger plan by the US to support the SCD in securing the capital, Baghdad,” the US embassy said.
“We will continue to work together to ensure a stable and secure future for the Iraqi people.”
Rockets have often been fired at the embassy to protest the presence of US troops in Iraq.
Washington has placed the blame on Iran-backed Iraqi militias but no side has claimed responsibility.
The latest attack on the Green Zone was last week, when eight small rockets launched.
US Secretary of State Mike Pompeo condemned the attack and said it was carried out by Iranian forces.
No embassy staff were injured, but the rocket did damage some residential property surrounding the Green Zone, Mr Pompeo said.
Minor damage was caused to the embassy building and the zone’s missile defence system was activated to deflect the attack, the embassy said.
The Iranian ambassador to Iraq, Iraj Masjedi, said his country played no part in the repeated attacks on the embassy and Green Zone.
The US and Iran came close to war following rocket attacks on Iraqi bases hosting American forces and US air strikes against militia groups this year.
It has left many Iraqis anxious about what might happen as the anniversary of Suleimani’s assassination neared.
"We are afraid that Iran or Shiite militias might act foolishly and provoke [US President Donald] Trump, putting the country and civilians in danger," a Baghdad resident told The National on condition of anonymity.
“Since early this year, they [militias] have spread fear all over Baghdad with their rockets flying over houses to hit the Green Zone, injuring and killing only civilians,” said the 46-year-old man, who lives near the Green Zone.
Mr Trump announced plans for a troop withdrawal from Iraq and Afghanistan by January 15, 2021, days before President-elect Joe Biden takes office.
The planned withdrawal will leave about 2,500 troops in both countries.
* Additional reporting by Sinan Mahmood in Baghdad
Groom and Two Brides
Director: Elie Semaan
Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla
Rating: 3/5
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PRESIDENTS CUP
Draw for Presidents Cup fourball matches on Thursday (Internationals first mention). All times UAE:
02.32am (Thursday): Marc Leishman/Joaquin Niemann v Tiger Woods/Justin Thomas
02.47am (Thursday): Adam Hadwin/Im Sung-jae v Xander Schauffele/Patrick Cantlay
03.02am (Thursday): Adam Scott/An Byeong-hun v Bryson DeChambeau/Tony Finau
03.17am (Thursday): Hideki Matsuyama/CT Pan v Webb Simpson/Patrick Reed
03.32am (Thursday): Abraham Ancer/Louis Oosthuizen v Dustin Johnson/Gary Woodland
FFP EXPLAINED
What is Financial Fair Play?
Introduced in 2011 by Uefa, European football’s governing body, it demands that clubs live within their means. Chiefly, spend within their income and not make substantial losses.
What the rules dictate?
The second phase of its implementation limits losses to €30 million (Dh136m) over three seasons. Extra expenditure is permitted for investment in sustainable areas (youth academies, stadium development, etc). Money provided by owners is not viewed as income. Revenue from “related parties” to those owners is assessed by Uefa's “financial control body” to be sure it is a fair value, or in line with market prices.
What are the penalties?
There are a number of punishments, including fines, a loss of prize money or having to reduce squad size for European competition – as happened to PSG in 2014. There is even the threat of a competition ban, which could in theory lead to PSG’s suspension from the Uefa Champions League.
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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
Global institutions: BlackRock and KKR
US-based BlackRock is the world's largest asset manager, with $5.98 trillion of assets under management as of the end of last year. The New York firm run by Larry Fink provides investment management services to institutional clients and retail investors including governments, sovereign wealth funds, corporations, banks and charitable foundations around the world, through a variety of investment vehicles.
KKR & Co, or Kohlberg Kravis Roberts, is a global private equity and investment firm with around $195 billion of assets as of the end of last year. The New York-based firm, founded by Henry Kravis and George Roberts, invests in multiple alternative asset classes through direct or fund-to-fund investments with a particular focus on infrastructure, technology, healthcare, real estate and energy.
