Contractors from 60 countries will appear at a defence and security conference in Paris this week as the war in Ukraine drives spending in the sector.
Eurosatory, the world's largest land-air military expo, will involve about 2,000 exhibitors presenting state-of-the-art technology such as drones, tanks and complex weapons systems.
European governments are spending more on defence and reassessing their needs following Russia's invasion of Ukraine in February.
The Ukrainian government said it is outgunned by Russian forces and has pleaded with western governments for more military aid, including high-tech missile and artillery it believes will tip the balance of the conflict in its favour.
The war, which has resulted in huge losses of equipment for Moscow, has illustrated the advantages of advanced weaponry readiness.
BAE Systems, the British armaments maker and contractor, will be among those at the show which starts today.
Here are some of its weapons which will be on display:
CV90: The tracked combat vehicle comes in more than a dozen variants for different missions and is interoperable across Nato forces.
The CV90, made by BAE's Swedish subsidiary, was designed with the Nordic sub-Arctic climate in mind and could be of use in Ukraine.
The CV90MkIV is the latest version of the tank and, the manufacturers say, comes with improved digitised systems for awareness and targeting plus integrated anti-tank guided missiles.
BvS10: The armoured all-terrain vehicle is used in Arctic and other cold weather environments.
It can cross ice, steep mountains, and rocks, and it has an amphibious capability.
Its modular design allows it to be configured for different missions.
The Swedish Army recently ordered 127 BvS10s and it is in contention for the European joint acquisition programme for the Cold Weather All-Terrain Vehicle.
Archer: The wheeled 155mm howitzer is capable of putting down fire within 30 seconds and can move on in 60, limiting an enemy's ability to retaliate, the BAE website says.
Its automated ammunition magazine stows 21 rounds and can be fired in less than three minutes. With guided munitions it can reach targets at more than 50 kilometres away.
360 MVP Sensor: The system is said by BAE to improve ground vehicle crews’ situational awareness and is shown to improve response time, survivability, and mission success.
It is comprised of high-definition, extended-view sensors built with BAE Systems’ 1920x1200 long wave infrared camera cores. The 360 MVP Sensor system delivers low-latency imagery during the day, at night, in adverse weather, and in challenging natural and man-made battlefield conditions.
Check6: This is a rear-vision camera system for ground vehicles that provides high-quality situational awareness.
It gives ground vehicle occupants day, night, and all-weather visibility, enabling combat crews to “see” outside their vehicle while remaining inside its protective armour
APKWS laser-guidance kit: This transforms an unguided 2.75-inch (70 millimetre) rocket into a precision-guided missile.
The BAE blurb claims that the conversion can attain 93 per cent accuracy.
APKWS laser-guidance kits are already used by four branches of the US military, and are available to allied nations.
Ukraine's war with Russia - in pictures
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Profile of Tamatem
Date started: March 2013
Founder: Hussam Hammo
Based: Amman, Jordan
Employees: 55
Funding: $6m
Funders: Wamda Capital, Modern Electronics (part of Al Falaisah Group) and North Base Media
The Florida Project
Director: Sean Baker
Starring: Bria Vinaite, Brooklynn Prince, Willem Dafoe
Four stars
Zayed Sustainability Prize
The biog
Favourite food: Tabbouleh, greek salad and sushi
Favourite TV show: That 70s Show
Favourite animal: Ferrets, they are smart, sensitive, playful and loving
Favourite holiday destination: Seychelles, my resolution for 2020 is to visit as many spiritual retreats and animal shelters across the world as I can
Name of first pet: Eddy, a Persian cat that showed up at our home
Favourite dog breed: I love them all - if I had to pick Yorkshire terrier for small dogs and St Bernard's for big
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