India's Prime Minister Narendra Modi was the guest of honour at France's Bastille Day celebrations on Friday as the two countries marked a quarter of a century of close ties.
The two-day visit included a banquet at the Louvre, Indian troops marching down the Champs-Elysees and a speech by Mr Modi to Indians from across Europe.
Mr Modi was warmly welcomed by French President Emmanuel Macron ahead of the festivities, which mark the storming of Bastille prison at the start of the French Revolution.
Earlier, Mr Macron awarded Mr Modi the Grand Cross of the Legion of Honour, the country's top order of merit. Mr Modi hailed it as “an honour for the 1.4 billion residents of India”.
The celebrations kicked off with a traditional military parade in the morning that had tanks, planes and soldiers sweeping down the Champs Elysees.
The Indian Prime Minister's two-day visit has attracted a high degree of fanfare, marking 25 years of a strategic partnership between the two countries and reflects India's growing strategic and military might.
France has been one of India's closest partners in Europe for decades. It was the only western nation to not impose sanctions on New Delhi after India conducted nuclear tests in 1998.
India's decision to buy 26 French-made Rafael jets and three more Scorpene-class submarines in a deal expected to be worth billions of euros had previously been announced the country's defence ministry.
The total value of the purchases is expected to be around 800 billion rupees ($9.75 billion), according to reports. India has already purchased 36 Rafale jets, three of which flew over Paris during the parade.
Bastille Day parade – in pictures
“We were able to all see a marvellous image of our co-operation on sea, land and in the skies,” Mr Modi said.
The timing of the festivities comes at a sensitive time for France after major cities were gripped by widespread rioting and looting across the country, triggered by a fatal police shooting of a 17-year-old.
A large police presence has been deployed to prevent further unrest. Some towns have cancelled their traditional firework displays out of fear of violence, and buses and trams are to stop running in the Paris region later in the evening.
Despite differences over the war in Ukraine and concerns over human rights in India, western democracies are courting India as a military and economic counterweight to China.
The French President told a meeting of military leaders on Thursday evening that India was “a giant of world history, which will have a decisive role for our future”.
He later tweeted in Hindi, saying that France would never forget the Indian soldiers who died in the First World War alongside French troops.
The main Paris fireworks display is set to go ahead on Friday evening and will be watched by Mr Macron and Mr Modi after they attend a banquet with 200 guests at the Louvre Museum.
During a press conference, Mr Modi said defence co-operation was a key pillar of Franco-Indian relations and that the two nations would discuss possibilities for co-production as part of efforts to deepen ties.
Mr Modi also told reporters that the countries had prepared a plan to work together in areas including space and nuclear energy.
Mr Macron referred to a “convergence” between France and India 25 years after they first signed a strategic partnership deal.
“We defend the same idea together of the Indo-Pacific, a space that must remain open and free of all hegemonic power,” he said during the press conference with Mr Modi, in a veiled reference to Beijing.
The trip comes less than a month after US President Joe Biden hosted Mr Modi on a state visit, during which Washington offered critical military technology, including fighter jet engines and high altitude drones, to New Delhi.
Mr Macron has treated only a few global leaders to the Bastille Day military parade.
He invited Donald Trump to the 2017 celebrations, and the former US president was so impressed by the French march-past that he asked Pentagon officials to explore a similar parade in celebration of American troops.
if you go
The flights
Etihad, Emirates and Singapore Airlines fly direct from the UAE to Singapore from Dh2,265 return including taxes. The flight takes about 7 hours.
The hotel
Rooms at the M Social Singapore cost from SG $179 (Dh488) per night including taxes.
The tour
Makan Makan Walking group tours costs from SG $90 (Dh245) per person for about three hours. Tailor-made tours can be arranged. For details go to www.woknstroll.com.sg
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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MATCH INFO
Liverpool 2 (Van Dijk 18', 24')
Brighton 1 (Dunk 79')
Red card: Alisson (Liverpool)
RESULT
RS Leipzig 3
Marcel Sabitzer 10', 21'
Emil Forsberg 87'
Tottenham 0
Martin Sabbagh profile
Job: CEO JCDecaux Middle East
In the role: Since January 2015
Lives: In the UAE
Background: M&A, investment banking
Studied: Corporate finance
THREE
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England v South Africa schedule:
- First Test: At Lord's, England won by 219 runs
- Second Test: July 14-18, Trent Bridge, Nottingham, 2pm
- Third Test: The Oval, London, July 27-31, 2pm
- Fourth Test: Old Trafford, Manchester, August 4-8
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
The alternatives
• Founded in 2014, Telr is a payment aggregator and gateway with an office in Silicon Oasis. It’s e-commerce entry plan costs Dh349 monthly (plus VAT). QR codes direct customers to an online payment page and merchants can generate payments through messaging apps.
• Business Bay’s Pallapay claims 40,000-plus active merchants who can invoice customers and receive payment by card. Fees range from 1.99 per cent plus Dh1 per transaction depending on payment method and location, such as online or via UAE mobile.
• Tap started in May 2013 in Kuwait, allowing Middle East businesses to bill, accept, receive and make payments online “easier, faster and smoother” via goSell and goCollect. It supports more than 10,000 merchants. Monthly fees range from US$65-100, plus card charges of 2.75-3.75 per cent and Dh1.2 per sale.
• 2checkout’s “all-in-one payment gateway and merchant account” accepts payments in 200-plus markets for 2.4-3.9 per cent, plus a Dh1.2-Dh1.8 currency conversion charge. The US provider processes online shop and mobile transactions and has 17,000-plus active digital commerce users.
• PayPal is probably the best-known online goods payment method - usually used for eBay purchases - but can be used to receive funds, providing everyone’s signed up. Costs from 2.9 per cent plus Dh1.2 per transaction.
