Donald Trump endorses TV's Dr Oz in US Senate race

Former US president Donald Trump has said he is endorsing celebrity surgeon Dr Mehmet Oz, who is running as a Republican in a closely watched US Senate contest in Pennsylvania.

“Dr Oz is smart, tough and will never let you down, therefore, he has my complete and total endorsement,” Mr Trump said at the weekend.

The race in Pennsylvania could determine control of the Senate and the fate of Democratic President Joe Biden's agenda. A crowded field of candidates are vying to replace the retiring Republican Senator Pat Toomey.

Mr Trump “knows how critical it is to change the kinds of people we send to Washington. I’m ready to fight,” Dr Oz said. “I thank him for that and I am proud to receive his endorsement.”

The top Republicans in the race are Dr Oz and David McCormick, a former hedge fund chief executive. Recent polls had Dr Oz and Mr McCormick neck and neck in the Republican primary contest to be held on May 17.

On the Democratic side, Pennsylvania's progressive lieutenant governor John Fetterman is locked in a race against Congressman Conor Lamb, a moderate representing the north-western suburbs of Pittsburgh.

Mr Toomey was one of seven Republican senators who voted to convict Mr Trump in February 2021 after his impeachment on a charge that he incited last year's attack on the Capitol by his supporters. The Senate vote of 57-43 fell short of the two thirds majority needed to convict Mr Trump.

Dr Oz, known for his syndicated The Dr Oz Show, brings his TV personality to the wide-open contest to take place on November 8.

He rose to fame shocking audiences with show-and-tell displays of decaying lungs and rotting livers, telling viewers they should take care of themselves.

His public image took a blow in 2014, however, when he told politicians who were investigating bogus diet product adverts that some of the products promoted on his show lacked “scientific muster”.

Senators at the hearing focused on green coffee bean extract, a dietary supplement Dr Oz touted in 2012 as a “miracle".

The Melbourne Mercer Global Pension Index

Mazen Abukhater, principal and actuary at global consultancy Mercer, Middle East, says the company’s Melbourne Mercer Global Pension Index - which benchmarks 34 pension schemes across the globe to assess their adequacy, sustainability and integrity - included Saudi Arabia for the first time this year to offer a glimpse into the region.

The index highlighted fundamental issues for all 34 countries, such as a rapid ageing population and a low growth / low interest environment putting pressure on expected returns. It also highlighted the increasing popularity around the world of defined contribution schemes.

“Average life expectancy has been increasing by about three years every 10 years. Someone born in 1947 is expected to live until 85 whereas someone born in 2007 is expected to live to 103,” Mr Abukhater told the Mena Pensions Conference.

“Are our systems equipped to handle these kind of life expectancies in the future? If so many people retire at 60, they are going to be in retirement for 43 years – so we need to adapt our retirement age to our changing life expectancy.”

Saudi Arabia came in the middle of Mercer’s ranking with a score of 58.9. The report said the country's index could be raised by improving the minimum level of support for the poorest aged individuals and increasing the labour force participation rate at older ages as life expectancies rise.

Mr Abukhater said the challenges of an ageing population, increased life expectancy and some individuals relying solely on their government for financial support in their retirement years will put the system under strain.

“To relieve that pressure, governments need to consider whether it is time to switch to a defined contribution scheme so that individuals can supplement their own future with the help of government support,” he said.

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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