A respiratory therapist treats a Covid-19 patient in the ICU at Rush University Medial Centre in Chicago, Illinois. AFP
A respiratory therapist treats a Covid-19 patient in the ICU at Rush University Medial Centre in Chicago, Illinois. AFP
A respiratory therapist treats a Covid-19 patient in the ICU at Rush University Medial Centre in Chicago, Illinois. AFP
A respiratory therapist treats a Covid-19 patient in the ICU at Rush University Medial Centre in Chicago, Illinois. AFP

US surpasses 900,000 deaths from Covid near end of Omicron surge


Patrick deHahn
  • English
  • Arabic

The US has recorded more than 900,000 deaths from Covid-19 two years into the pandemic and a little over a year into its national vaccination programme, a Johns Hopkins University database showed on Friday.

The country is now reporting a slow exit from the largest coronavirus surge the country has seen during the pandemic, driven by the highly contagious Omicron variant first detected in early December.

The nation surpassed 800,000 deaths on December 15 and the following 100,000 deaths since are likely due to Delta variant infections in early winter and Omicron cases as the new variant took hold.

“The Covid crisis has been cut in half — down in half in just three weeks. Still too many cases, still we have to be on the alert,” US President Joe Biden said in remarks about a January jobs report on Friday.

The Biden administration faced criticism for its handling of the Omicron surge, which led them to scramble in setting up a website for US residents to request free at-home rapid tests and to offer free high-quality N95 masks.

At its worst, the US registered a seven-day average of 800,000 daily infections in early January, the Centres for Disease Control and Prevention (CDC) reported, with 1.3 million cases reported on one day alone. The surge also led to a record in nationwide hospital admissions.

The health agency is now counting an average of 343,000 daily cases.

However, the CDC is recording more than 2,300 daily deaths due to Covid-19 — a rate that is still rising.

Unvaccinated people still account for the majority of deaths in the US. About 64 per cent of the population has received two Covid-19 vaccine doses, a level lower than almost all other wealthy countries.

A total of three doses has been found to provide more protection against the Omicron variant and the CDC says 42 per cent of fully vaccinated people have received a booster dose.

The country leads the world in deaths and infections, Johns Hopkins data show, although the official numbers are believed to be an undercount.

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Homeowners and tenants are allowed to list their properties for rental by registering through the Dubai Tourism website to obtain a permit.

Tenants also require a letter of no objection from their landlord before being allowed to list the property.

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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

Updated: June 20, 2023, 11:13 AM