Palestinian President Mahmoud Abbas delivers a remote speech at the UN General Assembly. EPA
Palestinian President Mahmoud Abbas delivers a remote speech at the UN General Assembly. EPA
Palestinian President Mahmoud Abbas delivers a remote speech at the UN General Assembly. EPA
Palestinian President Mahmoud Abbas delivers a remote speech at the UN General Assembly. EPA

Abbas lauds warmer US-Palestinian ties under Biden at UNGA


James Reinl
  • English
  • Arabic

Follow for live UN General Assembly coverage

Palestinian President Mahmoud Abbas praised improved relations with the US under President Joe Biden at the UN General Assembly on Friday — a stark contrast to the collapse of US-Palestinian ties during the Trump administration.

Addressing the assembly in New York, Mr Abbas described a “constructive dialogue” with the Biden administration that was reviving US-Palestinian ties and raising prospects for peace talks with Israel.

Relations between Washington and the Palestinians tanked under former president Donald Trump, whose attempts at peacemaking offered Palestinians only a fragmented and scaled back version of their longed-for state.

“I wish to refer here to the constructive dialogue currently under way with the US administration to resume Palestinian-US relations,” Mr Abbas said in a recorded address.

“We will strive to succeed in this endeavour so as to create conditions conducive to moving swiftly towards a final political settlement that ends the Israeli occupation of our country.”

He spoke less warmly about the new Israeli government led by Prime Minister Naftali Bennett, which in June ended conservative Benjamin Netanyahu’s 12-year run as Israel’s longest-serving leader.

Israel’s new coalition of left-wing, centrist, right-wing and Arab parties had shown as little sincere interest in letting Palestinians run their own affairs as its predecessor, he said.

“The current and former Israeli governments have persisted in evading the two-state solution” in which Palestinians would control their own nation, said Mr Abbas.

They have instead “insisted on pursuing occupation and military control over the Palestinian people while presenting illusionary economic and security plans as an alternative”.

The Palestinians seek an independent state in the West Bank, East Jerusalem and Gaza, all territory captured by Israel in 1967. Most countries view Israeli settlements in these areas as illegal, though Israel and some settler groups cite biblical and historical ties to the land.

War

Director: Siddharth Anand

Cast: Hrithik Roshan, Tiger Shroff, Ashutosh Rana, Vaani Kapoor

Rating: Two out of five stars 

The biog

Favourite car: Ferrari

Likes the colour: Black

Best movie: Avatar

Academic qualifications: Bachelor’s degree in media production from the Higher Colleges of Technology and diploma in production from the New York Film Academy

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

Gulf Under 19s final

Dubai College A 50-12 Dubai College B

Command%20Z
%3Cp%3E%3Cstrong%3EDirector%3A%C2%A0%3C%2Fstrong%3ESteven%20Soderbergh%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%C2%A0%3C%2Fstrong%3EMichael%20Cera%2C%20Liev%20Schreiber%2C%20Chloe%20Radcliffe%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%C2%A03%2F5%3C%2Fp%3E%0A
In numbers: PKK’s money network in Europe

Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010

Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille

Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm

Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year

Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”

Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners

TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013 

COMPANY PROFILE

Name: Xpanceo

Started: 2018

Founders: Roman Axelrod, Valentyn Volkov

Based: Dubai, UAE

Industry: Smart contact lenses, augmented/virtual reality

Funding: $40 million

Investor: Opportunity Venture (Asia)

Updated: September 25, 2021, 6:51 AM