Live updates: follow the latest news on Russia-Ukraine
The US Defence Department determined on Monday that Russia’s military in Ukraine plans to encircle Kiev in the “coming days” as well as seize control of two major cities in the east of the country.
A senior US defence official briefing reporters said Russia’s encirclement of the Ukrainian capital is a key objective for Moscow.
“Their advance on Kiev still appears to be their main line of effort, and we expect that they’re going to want to continue to move forward and try to encircle the city in coming days,” the official said.
US officials estimate that Russian forces are encamped 25 kilometres from Kiev as the invasion enters its fifth day.
Another Russian objective is seizing Ukraine’s second-largest city, Kharkiv, and the city of Mariupol in the east.
The shelling of Kharkiv intensified in the past 24 hours and Human Rights Watch told The Washington Post that Russian forces had “used Smerch cluster munition rockets, which disperse submunitions, or bomblets, in the attack”.
Amnesty International claimed that cluster munitions had also been used in the Ukrainian town of Okhtyrka on Friday.
But the US official saw signs of frustration and lack of preparedness on the Russian military side.
“Fuel and sustainment are unique challenges to [Russian troops] right now,” he said and added that Moscow did not plan for these logistical challenges.
Several videos shared online in the past 72 hours showed Russian tanks and armoured vehicles stranded on roads in Ukraine after they ran out of fuel.
Asked if the Russian mercenary group Wagner is involved in the fighting, the US official said there were “some indications” of its presence in Ukraine.
“It’s not exactly clear where or how much, but we’ve seen some indications that they’re being employed.”
The US official said Ukrainian resistance remains effective and their forces are “still putting up stiff and determined resistance … their air and missile defence capabilities are viable and effective and engaged”.
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Match info
Uefa Nations League A Group 4
England 2 (Lingard 78', Kane 85')
Croatia 1 (Kramaric 57')
Man of the match: Harry Kane (England)
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
MATCH INFO
Chelsea 0
Liverpool 2 (Mane 50', 54')
Red card: Andreas Christensen (Chelsea)
Man of the match: Sadio Mane (Liverpool)
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Tips to avoid getting scammed
1) Beware of cheques presented late on Thursday
2) Visit an RTA centre to change registration only after receiving payment
3) Be aware of people asking to test drive the car alone
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COMPANY PROFILE
Name: Rain Management
Year started: 2017
Based: Bahrain
Employees: 100-120
Amount raised: $2.5m from BitMex Ventures and Blockwater. Another $6m raised from MEVP, Coinbase, Vision Ventures, CMT, Jimco and DIFC Fintech Fund
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million