Jim Fitton, center left, and Volker Waldmann, center right, are handcuffed as they walk outside a courtroom in Baghdad, Iraq. AP.
Jim Fitton, center left, and Volker Waldmann, center right, are handcuffed as they walk outside a courtroom in Baghdad, Iraq. AP.
Jim Fitton, center left, and Volker Waldmann, center right, are handcuffed as they walk outside a courtroom in Baghdad, Iraq. AP.
Jim Fitton, center left, and Volker Waldmann, center right, are handcuffed as they walk outside a courtroom in Baghdad, Iraq. AP.

Geologist‘s family say UK official support a 'lost cause' in Iraq


Neil Murphy
  • English
  • Arabic

The family of a retired British geologist detained in Iraq over smuggling allegations say have given up on asking for help from the British government as they believe it is a 'lost cause'.

Jim Fitton, 66, insisted he had not acted with criminal intent and had no idea he was breaking Iraqi laws during his first court appearance in Baghdad.

But Mr Fitton and German tourist Volker Waldmann were arrested after the items were found in their possession as their group prepared to fly out of Baghdad airport on March 20.

The father-of-two collected 12 stones and shards of broken pottery as souvenirs while visiting a site in Eridu, in Iraq’s south east, as part of an organised geology and archaeology tour.

A second court hearing has been organised for May 22 and the judges must determine whether the defendants had sought to profit by taking the items.

Mr Fitton’s son-in-law Sam Tasker, 27, said the family has still not spoken to any UK minister regarding the case, adding: “We are focusing on the trial and are no longer actively lobbying the foreign office to intervene as it feels like a lost cause.”

He added: “We note that the judge has postponed the hearing to next weekend; we remain hopeful that Jim will be able to continue to articulate himself well as we believe that his innocence is self evident.

“We are hopeful that he is returned to us safe and sound soon so that we can all recover in peace from this terrible ordeal.”

Jim Fiitton with his wife Sarijah before his arrest by authorities in Iraq. AP.
Jim Fiitton with his wife Sarijah before his arrest by authorities in Iraq. AP.

Both defendants could face the death penalty, according to Iraqi law, but it has been suggested such an outcome is unlikely.

Mr Fitton said he “suspected” the items he collected were ancient fragments but said there were no guards or signage which said they could not be picked up.

The defence plans to submit more evidence to clear the men, Mr Fitton’s defence lawyer Thair Soud told the Associated Press.

This includes evidence from government officials present at the site where the fragments were collected.

Liberal Democrat MP Wera Hobhouse, who represents the Bath constituency, said: “I am pleased that the judge has postponed the hearing to allow for additional evidence to be submitted.

“Jim’s family have accepted that they will receive no further help on behalf of the Foreign Office and they are now fully focused on the trial.”

She added: “The Foreign Office has set a dangerous precedent for British citizens who are in trouble abroad and I hope that they will commit to a root-and-branch review of how the Foreign Office responds to situations like this in the future.”

A petition calling for UK ministers to intervene to help free Mr Fitton, who lives in Malaysia, has collected more than 272,000 signatures.

Foreign Office minister James Cleverly last week said the British ambassador in Iraq has raised the case four times with Iraqi authorities and consular support has been provided to Mr Fitton and his family.

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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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

Company profile

Company: Eighty6 

Date started: October 2021 

Founders: Abdul Kader Saadi and Anwar Nusseibeh 

Based: Dubai, UAE 

Sector: Hospitality 

Size: 25 employees 

Funding stage: Pre-series A 

Investment: $1 million 

Investors: Seed funding, angel investors  

GCC-UK%20Growth
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In-demand jobs and monthly salaries
  • Technology expert in robotics and automation: Dh20,000 to Dh40,000 
  • Energy engineer: Dh25,000 to Dh30,000 
  • Production engineer: Dh30,000 to Dh40,000 
  • Data-driven supply chain management professional: Dh30,000 to Dh50,000 
  • HR leader: Dh40,000 to Dh60,000 
  • Engineering leader: Dh30,000 to Dh55,000 
  • Project manager: Dh55,000 to Dh65,000 
  • Senior reservoir engineer: Dh40,000 to Dh55,000 
  • Senior drilling engineer: Dh38,000 to Dh46,000 
  • Senior process engineer: Dh28,000 to Dh38,000 
  • Senior maintenance engineer: Dh22,000 to Dh34,000 
  • Field engineer: Dh6,500 to Dh7,500
  • Field supervisor: Dh9,000 to Dh12,000
  • Field operator: Dh5,000 to Dh7,000
Company%20profile
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The President's Cake

Director: Hasan Hadi

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

Rating: 4/5

Updated: May 16, 2022, 3:43 PM