Things had been looking up for Haiti


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WASHINGTON // On Tuesday, before the quake struck, things actually were looking up for the impoverished island nation of Haiti. New foreign aid was improving conditions in the country, street crime and gang violence were on the decline, and investors were beginning to trickle in, observers say. A new round of presidential elections were scheduled for next year - a feat for a country prone to political coups - and the former US president, Bill Clinton, was appointed Haiti's UN special envoy in May, bringing with him the potential to attract new international investors and the promise of a better future.

"In Haitian terms, the year 2010 was something of a renaissance. It seemed to many observers that Haiti had turned a corner," said Robert Perito, a Haiti specialist at the Washington-based US Institute of Peace (USIP). "This tragedy came out of nowhere - there was no warning. There's a particular devastation in this, both physical and psychological." No one is suggesting that Haiti was a model nation before the magnitude 7.0-earthquake flattened buildings and potentially left tens of thousands dead, according to some estimates. The country is the poorest in the Western hemisphere - more than half of its nine million people live on less than US$1 (Dh3.7) a day - and it is rife with crime and disease.

Even before the most recent disaster, there was little infrastructure to speak of. A series of devastating hurricanes in 2008 left 800,000 homeless. Few presidents have left office peacefully - the previous president, Jean- Bertrand Aristide, was overthrown by a rebellion in 2004 - and the threat of political upheaval is never far from the surface. Still, there were signs of improvement in Haitian society and many were uncharacteristically upbeat.

The current president, Rene Preval, who was elected in free elections, has presided over a period of modest economic growth, according to Mr Perito. Street crime, kidnappings and gang violence, were down, in part because of the presence of a nearly 9000 United Nations peacekeepers. Mr Clinton's "star power" as envoy also has started to pay dividends, attracting investors to the tourism and mango sectors, according to a report by the USIP.

At an international donor conference in April, held in Washington, some 30 nations and organisations pledged $324 million to help the country rebuild after from the destructive 2008 hurricane season. The 2009 season, meanwhile, passed without any major storms. "We had donors lined up. We had private businesses beginning to make investments. There was so much hope about Haiti's future, hope that had not been present for years," Hillary Clinton, the secretary of state, said earlier this week. "And along comes Mother Nature and just flattens it."

Among the buildings that were reduced to rubble or badly damaged, were those that housed and symbolised the two best functioning engines of Haitian society - the presidential palace and UN headquarters. The capacity of both bodies now has been greatly diminished, prompting concern that the country will descend into lawless chaos. Foreign countries already have pledged new aid in the wake of the disaster and some, such as the United States, have dispatched rescue teams and military forces. Barack Obama, who has called the disaster "especially cruel and incomprehensible", announced an immediate investment of $100m yesterday and said the US military had secured Haiti's airport.

Still, some observers doubt the country will be able to regain the momentum it lost in the disaster. "The prospect that Haiti will be able to witness a dramatic recovery is pretty bleak," said Larry Birns, director of the Council on Hemispheric Affairs in Washington, who questioned whether donors would fulfil their financial promises to Haiti in the months ahead, as the world continues to grapple with an economic crisis.

"Donor fatigue is inevitably going to set in as it always has when it comes to Haiti," he said. "Whatever is pledged right now in terms of aid will be rapidly truncated in terms of new world emergencies and the economic exigencies back at home." sstanek@thenational.ae

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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Director: ​Yeon Sang-ho

Rating: 2/5

How to watch Ireland v Pakistan in UAE

When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.

In numbers

Number of Chinese tourists coming to UAE in 2017 was... 1.3m

Alibaba’s new ‘Tech Town’  in Dubai is worth... $600m

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The world’s most valuable start-up in 2018, TikTok, is valued at... $75bn

Boost to the UAE economy of 5G connectivity will be... $269bn 

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Ahmed Saadawi
​​​​​​​Penguin Press

The biog

Favourite book: Homegoing by Yaa Gyasi

Favourite holiday destination: Spain

Favourite film: Bohemian Rhapsody

Favourite place to visit in the UAE: The beach or Satwa

Children: Stepdaughter Tyler 27, daughter Quito 22 and son Dali 19

Pros%20and%20cons%20of%20BNPL
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Jota (2', 32')
Thiago (37')
Van Dijk (52')

Man of the match: Diogo Jota (Liverpool)

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126: The length in metres of the legs supporting the structure

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16 A380 Airbuses: The equivalent weight of the wheel rim.

9,000 tonnes: The amount of steel used to construct the project.

5 tonnes: The weight of each permanent spoke that is holding the wheel rim in place

192: The amount of cable wires used to create the wheel. They measure a distance of 2,4000km in total, the equivalent of the distance between Dubai and Cairo.

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The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
​​​​​​​Fuel consumption, combined: 10.5L / 100km

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5.30pm: Al Wathba Stallions Cup – Handicap (PA) Dh70,000 (T) 2,200m; Winner: AF Mukhrej, Tadhg O’Shea, Ernst Oertel

6pm: The President’s Cup Prep – Conditions (PA) Dh100,000 (T) 2,200m; Winner: Mujeeb, Richard Mullen, Salem Al Ketbi

6.30pm: Abu Dhabi Equestrian Club – Prestige (PA) Dh125,000 (T) 1,600m; Winner: Jawal Al Reef, Antonio Fresu, Abubakar Daud

7pm: Al Ruwais – Group 3 (PA) Dh300,000 (T) 1,200m; Winner: Ashton Tourettes, Pat Dobbs, Ibrahim Aseel

7.30pm: Jebel Hafeet – Maiden (TB) Dh80,000 (T) 1,400m; Winner: Nibraas, Richard Mullen, Nicholas Bachalard

Leaderboard

15 under: Paul Casey (ENG)

-14: Robert MacIntyre (SCO)

-13 Brandon Stone (SA)

-10 Laurie Canter (ENG) , Sergio Garcia (ESP)

-9 Kalle Samooja (FIN)

-8 Thomas Detry (BEL), Justin Harding (SA), Justin Rose (ENG)

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Director:Guillermo del Toro

Stars:Bradley Cooper, Cate Blanchett, Rooney Mara

Rating: 3/5