Follow the latest news from the coronation of King Charles here
President Sheikh Mohamed congratulated his “dear friend" King Charles III after Britain’s coronation ceremony ended on Saturday.
He said: “We extend our heartfelt wishes to the United Kingdom and its people on this historic day, and look forward to further strengthening our countries’ long-standing partnership.”
Sheikh Mohammed bin Rashid, Vice President, Prime Minister and Ruler of Dubai, also offered his congratulations.
“Congratulations to King Charles III on his coronation today. The United Arab Emirates and the United Kingdom share a longstanding historical relationship, and we look forward to further enhancing it and taking it to new levels during the reign of the new king,” said Sheikh Mohammed on Twitter.
Sheikh Mansour bin Zayed, Vice President, Deputy Prime Minister and Minister of the Presidential Court, represented the UAE in London.
Sheikh Mansour met King Charles at a Buckingham Palace reception on Friday evening and earlier held talks with Britain’s Foreign Secretary James Cleverly.
Royal guests at the Westminster Abbey ceremony included Jordan’s King Abdullah II and Queen Rania.
Princess Lalla Meryem of Morocco, the daughter of the late King Hassan II, represented her country in the church.
The Emir of Qatar, Sheikh Tamim bin Hamad Al Thani, who had a meeting with UK Prime Minister Rishi Sunak on Friday, attended with his wife Sheikha Jawaher Al Thani.
Bahrain's King Hamad and Crown Prince Salman bin Hamad were also among the visiting royals.
World leaders attend King Charles's coronation — in pictures
Oman was represented by Crown Prince Theyazin bin Haitham and Foreign Minister Sayyid Badr Albusaidi.
Israel sent its President Isaac Herzog and his wife Michal Herzog.
Lebanon’s Prime Minister Najib Mikati was among the heads of government to attend.
Invitations were issued to the heads of state of almost all countries with which the UK has diplomatic relations — with a few countries such as Russia and Iran not invited.
The invitations indicated who might attend as the representative of a head of state.
North Korea and Nicaragua were invited to send a senior diplomat but not a head of state.
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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
Awar Qalb
Director: Jamal Salem
Starring: Abdulla Zaid, Joma Ali, Neven Madi and Khadija Sleiman
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Director: Saeed Roustaee
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Sholto Byrnes on Myanmar politics
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