• Former US president Richard Nixon points to transcripts of tapes after he announced during a televised speech that he would turn them over to House of Representatives impeachment investigators during the Watergate scandal. AP
    Former US president Richard Nixon points to transcripts of tapes after he announced during a televised speech that he would turn them over to House of Representatives impeachment investigators during the Watergate scandal. AP
  • John Ehrlichman, a key figure in the Watergate scandal, was convicted of conspiracy and perjury and served 18 months in prison. AP
    John Ehrlichman, a key figure in the Watergate scandal, was convicted of conspiracy and perjury and served 18 months in prison. AP
  • FBI official Mark Felt was the 'Washington Post' informant that helped them break the Watergate story. AP
    FBI official Mark Felt was the 'Washington Post' informant that helped them break the Watergate story. AP
  • Nixon tells a group of Republican campaign contributors that he will get to the bottom of the Watergate scandal during a speech on May 9, 1973, in Washington. AP
    Nixon tells a group of Republican campaign contributors that he will get to the bottom of the Watergate scandal during a speech on May 9, 1973, in Washington. AP
  • The Senate Watergate Committee hearings on Capitol Hill in Washington took place in 1973. AP
    The Senate Watergate Committee hearings on Capitol Hill in Washington took place in 1973. AP
  • HR Haldeman, former top Nixon aide, speaks before the Senate Watergate Committee in Washington on July 31, 1973. AP
    HR Haldeman, former top Nixon aide, speaks before the Senate Watergate Committee in Washington on July 31, 1973. AP
  • Named in the Watergate scandal, from left to right, are G Gordon Liddy, White House counsel John W Dean III, former attorney general John Mitchell, and former Nixon deputy campaign manager Jeb Stuart Magruder. AP
    Named in the Watergate scandal, from left to right, are G Gordon Liddy, White House counsel John W Dean III, former attorney general John Mitchell, and former Nixon deputy campaign manager Jeb Stuart Magruder. AP
  • Howard Baker, vice chairman of the Senate Watergate Investigating Committee, questions James McCord during a hearing in Washington, on May 18, 1973. AP
    Howard Baker, vice chairman of the Senate Watergate Investigating Committee, questions James McCord during a hearing in Washington, on May 18, 1973. AP
  • Nixon says goodbye with a victorious salute to his staff members outside the White House as he boards a helicopter after resigning the presidency on August 9, 1974. AP
    Nixon says goodbye with a victorious salute to his staff members outside the White House as he boards a helicopter after resigning the presidency on August 9, 1974. AP
  • The traumas of Watergate and January 6 are a half century apart, in vastly different eras, and they were about different things. AP
    The traumas of Watergate and January 6 are a half century apart, in vastly different eras, and they were about different things. AP
  • Nixon gives a speech at the White House following his resignation from the presidency after the Watergate scandal. Consolidated News Pictures / AFP
    Nixon gives a speech at the White House following his resignation from the presidency after the Watergate scandal. Consolidated News Pictures / AFP
  • Parking space D32 in the garage underneath the Oakhill Office Building, where 'Washington Post' reporter Bob Woodward would meet his source known as 'Deep Throat' to exchange notes about the Watergate scandal, in Rosslyn, Virginia. Getty Images / AFP
    Parking space D32 in the garage underneath the Oakhill Office Building, where 'Washington Post' reporter Bob Woodward would meet his source known as 'Deep Throat' to exchange notes about the Watergate scandal, in Rosslyn, Virginia. Getty Images / AFP
  • Evidence from the Watergate break-in at the Democratic National Committee headquarters in Washington. AFP
    Evidence from the Watergate break-in at the Democratic National Committee headquarters in Washington. AFP
  • The Watergate buildings feature office suites, a hotel and single-family residences. Getty Images / AFP
    The Watergate buildings feature office suites, a hotel and single-family residences. Getty Images / AFP
  • Woodward was a cub reporter when he and veteran 'Washington Post' reporter Carl Bernstein broke the Watergate story. AFP
    Woodward was a cub reporter when he and veteran 'Washington Post' reporter Carl Bernstein broke the Watergate story. AFP
  • A break-in by five men looking to install microphones at the Watergate and take pictures of documents to find compromising information on Nixon's opponents led to the president's downfall. AFP
    A break-in by five men looking to install microphones at the Watergate and take pictures of documents to find compromising information on Nixon's opponents led to the president's downfall. AFP
  • Former 'Washington Post’s' executive editor Ben Bradlee and publisher Katharine Graham seen leaving the US district court in Washington. AP
    Former 'Washington Post’s' executive editor Ben Bradlee and publisher Katharine Graham seen leaving the US district court in Washington. AP
  • Nixon met football star Pele in 1973 as rumblings of the Watergate scandal were beginning to surface. Photo: US National Archives
    Nixon met football star Pele in 1973 as rumblings of the Watergate scandal were beginning to surface. Photo: US National Archives
  • A wanted poster features key people involved in the Watergate scandal at the National Portrait Gallery in Washington. EPA
    A wanted poster features key people involved in the Watergate scandal at the National Portrait Gallery in Washington. EPA
  • The exhibition presents illustrations from the 50th anniversary of the Watergate scandal. EPA
    The exhibition presents illustrations from the 50th anniversary of the Watergate scandal. EPA
  • A photograph of Mark Felt and 'Time' magazine cover artwork called 'Nixon's Palace Guard' are part of the display. EPA
    A photograph of Mark Felt and 'Time' magazine cover artwork called 'Nixon's Palace Guard' are part of the display. EPA
  • Pulitzer Prize-winning journalist Carl Bernstein eulogises his former boss and 'Washington Post' executive editor Ben Bradlee at the National Cathedral in Washington. Getty Images / AFP
    Pulitzer Prize-winning journalist Carl Bernstein eulogises his former boss and 'Washington Post' executive editor Ben Bradlee at the National Cathedral in Washington. Getty Images / AFP
  • A caricature which appeared on the cover of 'Time' magazine in April 1973. EPA
    A caricature which appeared on the cover of 'Time' magazine in April 1973. EPA
  • The luxurious Watergate complex in Washington where the Democratic National Committee had its offices in 1973. AP
    The luxurious Watergate complex in Washington where the Democratic National Committee had its offices in 1973. AP
  • The exterior of the modern Watergate Hotel in Washington. Photo: Ron Blunt
    The exterior of the modern Watergate Hotel in Washington. Photo: Ron Blunt
  • The location of the clandestine meetings between Woodward and Mark Felt in 1972 and 1973 were kept secret until Felt came forward and revealed himself to be Deep Throat in 2005. Getty Images / AFP
    The location of the clandestine meetings between Woodward and Mark Felt in 1972 and 1973 were kept secret until Felt came forward and revealed himself to be Deep Throat in 2005. Getty Images / AFP
  • A historical marker stands outside the parking garage underneath the Oakhill Office Building in Rosslyn, Virginia. Getty Images / AFP
    A historical marker stands outside the parking garage underneath the Oakhill Office Building in Rosslyn, Virginia. Getty Images / AFP
  • Ben Bradlee, actor Dustin Hoffman and Harry Rosenfeld talk at the premiere of 'All the President's Men' at the Kennedy Centre in Washington. The Washington Post / AP
    Ben Bradlee, actor Dustin Hoffman and Harry Rosenfeld talk at the premiere of 'All the President's Men' at the Kennedy Centre in Washington. The Washington Post / AP

Watergate: The American scandal that ended a presidency


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Although more than 50 years have passed, the Watergate affair remains a cautionary tale of the threat of untrammelled presidential power and the yardstick against which all other political scandals are judged.

Yet some historians believe its architect, former president Richard Nixon, risks being usurped as the norm-breaking exemplar of presidential corruption by Donald Trump and the firestorm over his role in the 2021 US Capitol assault.

Mr Nixon's underlying crime was covering up a break-in at the Democratic National Committee headquarters in Washington's Watergate complex that was aimed at stealing documents that might have helped him in an election he would ultimately win by a landslide anyway.

The accusations against Mr Trump — that he incited a deadly riot to disrupt the peaceful transfer of power as part of a conspiracy to overturn an election — appear “far more serious”, says history professor Michael Green.

  • First gentleman Douglas Emhoff, Vice President Kamala Harris, US President Joe Biden and wife Jill Biden salute the crowd after their electoral victory on November 7, 2020. Outgoing president Donald Trump has yet to concede his loss. AFP
    First gentleman Douglas Emhoff, Vice President Kamala Harris, US President Joe Biden and wife Jill Biden salute the crowd after their electoral victory on November 7, 2020. Outgoing president Donald Trump has yet to concede his loss. AFP
  • Rudy Giuliani, lawyer for former president Donald Trump, gives a press conference in the car park of the Four Seasons landscaping company in Philadelphia, Pennsylvania, after Joe Biden was declared as winner of the 2020 presidential election, which he claimed was false. As a result of these claims, Mr Giuliani can no longer practice law in the state of New York. EPA
    Rudy Giuliani, lawyer for former president Donald Trump, gives a press conference in the car park of the Four Seasons landscaping company in Philadelphia, Pennsylvania, after Joe Biden was declared as winner of the 2020 presidential election, which he claimed was false. As a result of these claims, Mr Giuliani can no longer practice law in the state of New York. EPA
  • Donald Trump meets Clint Hickman, vice chairman of Arizona's 4th District, Maricopa County Board of Supervisors, at Phoenix Sky Harbour International Airport in Phoenix, Arizona, Mr Hickman said that he refused to take calls from the White House and Mr Trump, who he said was trying to overturn the battleground state's results. AP
    Donald Trump meets Clint Hickman, vice chairman of Arizona's 4th District, Maricopa County Board of Supervisors, at Phoenix Sky Harbour International Airport in Phoenix, Arizona, Mr Hickman said that he refused to take calls from the White House and Mr Trump, who he said was trying to overturn the battleground state's results. AP
  • Four days before the Capitol riot, Donald Trump placed a call to Georgia Secretary of State Brad Raffensperger and asked the official to 'find' 11,780 votes to prevent the certification of Joe Biden's victory in the battleground state. The House committee investigators have already interviewed election officials in the state. AP
    Four days before the Capitol riot, Donald Trump placed a call to Georgia Secretary of State Brad Raffensperger and asked the official to 'find' 11,780 votes to prevent the certification of Joe Biden's victory in the battleground state. The House committee investigators have already interviewed election officials in the state. AP
  • Ruby Freeman was an employee of the Fulton County Board of Registration and Elections in Atlanta, Georgia, during the 2020 presidential election. After the state went to Joe Biden, Donald Trump accused Ms Freeman of stealing ballots in a call with Brad Raffensperger, who told Mr Trump that he was being misled by claims on social media. Reuters
    Ruby Freeman was an employee of the Fulton County Board of Registration and Elections in Atlanta, Georgia, during the 2020 presidential election. After the state went to Joe Biden, Donald Trump accused Ms Freeman of stealing ballots in a call with Brad Raffensperger, who told Mr Trump that he was being misled by claims on social media. Reuters
  • Kimberly Guilfoyle, engaged to Donald Trump's son, boasted to a Republican operative that she had raised $3 million for the rally that helped fuel the January 6 Capitol riot. She may be called to testify. AFP
    Kimberly Guilfoyle, engaged to Donald Trump's son, boasted to a Republican operative that she had raised $3 million for the rally that helped fuel the January 6 Capitol riot. She may be called to testify. AFP
  • Kash Patel, chief of staff to former acting secretary of defence Christopher Miller, gave a deposition on Capitol Hill to the committee on December 9, 2021. Members of the committee and staff members had been meeting with Mr Patel and 'Stop the Steal' organiser Ali Alexander. Getty Images / AFP
    Kash Patel, chief of staff to former acting secretary of defence Christopher Miller, gave a deposition on Capitol Hill to the committee on December 9, 2021. Members of the committee and staff members had been meeting with Mr Patel and 'Stop the Steal' organiser Ali Alexander. Getty Images / AFP
  • The Willard Hotel in Washington played home to a 'war room' set up by advisers of Donald Trump and has become the focus of the congressional investigation into the January 6 attack. AFP
    The Willard Hotel in Washington played home to a 'war room' set up by advisers of Donald Trump and has become the focus of the congressional investigation into the January 6 attack. AFP
  • Former White House chief strategist in the Trump administration Steven Bannon leaves a federal courthouse in Washington after being indicted on two counts of contempt of Congress. EPA
    Former White House chief strategist in the Trump administration Steven Bannon leaves a federal courthouse in Washington after being indicted on two counts of contempt of Congress. EPA
  • Roger Stone, a former adviser and confidant of Donald Trump, gave a deposition before the committee in which he repeatedly pled the Fifth Amendment when questioned. Getty Images / AFP
    Roger Stone, a former adviser and confidant of Donald Trump, gave a deposition before the committee in which he repeatedly pled the Fifth Amendment when questioned. Getty Images / AFP
  • Bennie Thompson was chosen by Speaker of the House Nancy Pelosi to lead the House Select Committee on the January 6 Attack on the US Capitol. Getty Images / AFP
    Bennie Thompson was chosen by Speaker of the House Nancy Pelosi to lead the House Select Committee on the January 6 Attack on the US Capitol. Getty Images / AFP
  • Bennie Thompson meets Liz Cheney, vice-chair of the select committee, Adam Kinzinger and Jamie Raskin on Capitol Hill. The committee voted unanimously to recommend contempt of Congress charges for former Department of Justice official Jeffrey Clark for defying his subpoena, refusing to answer questions and failing to hand over documents to the committee. Getty Images / AFP
    Bennie Thompson meets Liz Cheney, vice-chair of the select committee, Adam Kinzinger and Jamie Raskin on Capitol Hill. The committee voted unanimously to recommend contempt of Congress charges for former Department of Justice official Jeffrey Clark for defying his subpoena, refusing to answer questions and failing to hand over documents to the committee. Getty Images / AFP
  • Liz Cheney, committee chairman Bennie Thompson and other members of the committee speak to reporters after meeting with Nancy Pelosi. Reuters
    Liz Cheney, committee chairman Bennie Thompson and other members of the committee speak to reporters after meeting with Nancy Pelosi. Reuters
  • Republican Scott Perry of Pennsylvania helped promote theories that the 2020 presidential election was stolen, resulting in millions of tax dollars spent on recounts in the state. Election workers there were also threatened with violence. Reuters
    Republican Scott Perry of Pennsylvania helped promote theories that the 2020 presidential election was stolen, resulting in millions of tax dollars spent on recounts in the state. Election workers there were also threatened with violence. Reuters
  • Chairwoman of the Arizona Republican Party Kelli Ward led the charge to pressure Maricopa County officials to invalidate the results of the 2020 presidential election. Ms Ward also said that 'outside agitators' were responsible for the deadly attack. AP
    Chairwoman of the Arizona Republican Party Kelli Ward led the charge to pressure Maricopa County officials to invalidate the results of the 2020 presidential election. Ms Ward also said that 'outside agitators' were responsible for the deadly attack. AP
  • Jim Jordan, a Republican congressman, admitted to speaking with Donald Trump on January 6. Reuters
    Jim Jordan, a Republican congressman, admitted to speaking with Donald Trump on January 6. Reuters
  • Lawyer John Eastman spoke with Donald Trump's personal legal representative Rudy Giuliani at the January 6 'Stop the Steal' rally in Washington. During the melee, Mr Eastman emailed Greg Jacobs, aid to vice president at the time Mike Pence, to say that it was Mr Pence's fault that the riot was taking place because he refused to block the election's certification results. Reuters
    Lawyer John Eastman spoke with Donald Trump's personal legal representative Rudy Giuliani at the January 6 'Stop the Steal' rally in Washington. During the melee, Mr Eastman emailed Greg Jacobs, aid to vice president at the time Mike Pence, to say that it was Mr Pence's fault that the riot was taking place because he refused to block the election's certification results. Reuters
  • Before Mike Pence could certify the Electoral College votes before Congress, the last step in the process before Joe Biden was to be sworn in, rioters breached the US Capitol. Outside the chamber doors, a person was shot and police officers were beaten and trampled as some rioters yelled: 'Hang Mike Pence!' EPA
    Before Mike Pence could certify the Electoral College votes before Congress, the last step in the process before Joe Biden was to be sworn in, rioters breached the US Capitol. Outside the chamber doors, a person was shot and police officers were beaten and trampled as some rioters yelled: 'Hang Mike Pence!' EPA
  • Former White House chief of staff Mark Meadows said he has no intention of complying with a subpoena to appear before the committee and missed a scheduled deposition. Committee members voted unanimously to pursue criminal contempt charges against Mr Meadows for refusing to give evidence. AFP
    Former White House chief of staff Mark Meadows said he has no intention of complying with a subpoena to appear before the committee and missed a scheduled deposition. Committee members voted unanimously to pursue criminal contempt charges against Mr Meadows for refusing to give evidence. AFP
  • In a legal setback, a federal appeals court ruled against Donald Trump, demanding he turn over White House records to the committee. AP
    In a legal setback, a federal appeals court ruled against Donald Trump, demanding he turn over White House records to the committee. AP
  • Fox News host Sean Hannity sent text messages to the White House during the January 6 insurrection. AP
    Fox News host Sean Hannity sent text messages to the White House during the January 6 insurrection. AP
  • The Oath Keepers is a US militia group that recruits former members of the military and law enforcement, with many participating in the January 6 attack. The committee has sent a subpoena to its founder, Stewart Rhoades, and several members have been arrested. AP
    The Oath Keepers is a US militia group that recruits former members of the military and law enforcement, with many participating in the January 6 attack. The committee has sent a subpoena to its founder, Stewart Rhoades, and several members have been arrested. AP
  • The select committee subpoenaed Enrique Tarrio, naming him as leader of the Proud Boys, an extremist group that responded to Donald Trump’s call to descend on Washington and which played a central role in the attack on the Capitol. EPA
    The select committee subpoenaed Enrique Tarrio, naming him as leader of the Proud Boys, an extremist group that responded to Donald Trump’s call to descend on Washington and which played a central role in the attack on the Capitol. EPA
  • US Olympic swimmer Klete Keller can be seen, with arms extended and wearing a blue kerchief covering his face, during the attack on the US Capitol. He pled guilty to one count of obstructing an official proceeding and is co-operating with the committee. AFP
    US Olympic swimmer Klete Keller can be seen, with arms extended and wearing a blue kerchief covering his face, during the attack on the US Capitol. He pled guilty to one count of obstructing an official proceeding and is co-operating with the committee. AFP
  • House select committee member Liz Cheney told CNN that a witness said Donald Trump's daughter and former White House adviser, Ivanka Trump, pleaded with her father to put a stop to the violence that took place on January 6. Getty Images / AFP
    House select committee member Liz Cheney told CNN that a witness said Donald Trump's daughter and former White House adviser, Ivanka Trump, pleaded with her father to put a stop to the violence that took place on January 6. Getty Images / AFP
  • On January 9, 2021, Twitter banned Donald Trump after he tweeted his support for the rioters. Reuters
    On January 9, 2021, Twitter banned Donald Trump after he tweeted his support for the rioters. Reuters
  • 'Stop the Steal' organiser Ali Alexander gave a deposition on Capitol Hill to the committee. Getty Images / AFP
    'Stop the Steal' organiser Ali Alexander gave a deposition on Capitol Hill to the committee. Getty Images / AFP
  • Stephanie Grisham, former White House Press Secretary under former US president Donald Trump, leaves the O'Neill House office building following a meeting with the Select Committee to Investigate the January 6th attack on the US Capitol. Reuters
    Stephanie Grisham, former White House Press Secretary under former US president Donald Trump, leaves the O'Neill House office building following a meeting with the Select Committee to Investigate the January 6th attack on the US Capitol. Reuters

“One of the ironies is that Nixon did not need to order a break-in to win that election,” he said. “And there is no evidence, even with all of the tapes, that there was ever a discussion or thought of overturning the result if it went against him.”

Five Watergate burglars were caught red-handed on the evening of June 16 in 1972 and it quickly became clear that some were linked to Mr Nixon and the White House.

The ensuing investigation opened a Pandora's box of abuses and dirty tricks that included political spying, the forgery of correspondence and even the theft of a pair of shoes to intimidate a rival to Mr Nixon.

The Oscar-winning film 'All the Presidents Men' about the Watergate scandal starred Dustin Hoffman and Robert Redford. Photo: Discovery Channel
The Oscar-winning film 'All the Presidents Men' about the Watergate scandal starred Dustin Hoffman and Robert Redford. Photo: Discovery Channel

But the cover-up was initially so successful that Mr Nixon won 49 of the 50 states in his landslide victory over Democrat George McGovern in that year's presidential election.

The whitewash might have succeeded were it not for the chance discovery in the summer of 1973 that the president had secretly recorded all of his White House meetings.

They included a “smoking gun” tape in which Mr Nixon could be heard ordering that the FBI, which was set to investigate the Watergate break-in, be told to “stay the hell out of this”.

Mr Nixon resigned after a delegation of Republican elders, led by ultraconservative Barry Goldwater, came to the White House in 1974 to tell him he was likely to be impeached and the jig was up.

Carl Bernstein and Bob Woodward, the reporters who played a pivotal role in bringing down Mr Nixon, have written a new foreword for their major book All the President's Men drawing parallels to Mr Trump.

They suggest that Mr Trump's incitement of a mob to march on the Capitol constituted “a deception that exceeded even Nixon's imagination”.

Screenwriter William Goldman won an Academy Award for his adaptation of 'All the President's Men'. AP
Screenwriter William Goldman won an Academy Award for his adaptation of 'All the President's Men'. AP

“By legal definition this is clearly sedition … thus Trump became the first seditious president in our history,” they say.

While the Senate voted unanimously to set up a cross-party investigative committee on Watergate, the Republicans of the 2020s vetoed a bipartisan commission and punished two members who joined the Democratic-led House committee investigating January 6.

About 80 million Americans — considerably more than a third of the population — tuned in to White House counsel John Dean's televised evidence given against Mr Nixon at the Watergate hearings, while about 20 million — only 6 per cent of Americans — watched the blockbuster first hearing put on by the January 6 panel.

For David Greenberg, author of Nixon's Shadow: The History of an Image, the Watergate hearings were “instrumental” in bringing down a president attempting to subvert democracy.

“The difference, however, is that in 1973 and 1974, a great many Republican congressmen and senators loyal to Nixon ended up admitting that he was engaged in criminal activity,” he told AFP.

“Today, only a few … have been willing to acknowledge Trump's complicity. Our polarised, partisan environment may prevent the January 6 hearings from achieving all they should.”

AFP contributed to this report

Bundesliga fixtures

Saturday, May 16 (kick-offs UAE time)

Borussia Dortmund v Schalke (4.30pm) 

RB Leipzig v Freiburg (4.30pm) 

Hoffenheim v Hertha Berlin (4.30pm) 

Fortuna Dusseldorf v Paderborn  (4.30pm) 

Augsburg v Wolfsburg (4.30pm) 

Eintracht Frankfurt v Borussia Monchengladbach (7.30pm)

Sunday, May 17

Cologne v Mainz (4.30pm),

Union Berlin v Bayern Munich (7pm)

Monday, May 18

Werder Bremen v Bayer Leverkusen (9.30pm)

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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Ain Dubai in numbers

126: The length in metres of the legs supporting the structure

1 football pitch: The length of each permanent spoke is longer than a professional soccer pitch

16 A380 Airbuses: The equivalent weight of the wheel rim.

9,000 tonnes: The amount of steel used to construct the project.

5 tonnes: The weight of each permanent spoke that is holding the wheel rim in place

192: The amount of cable wires used to create the wheel. They measure a distance of 2,4000km in total, the equivalent of the distance between Dubai and Cairo.

Updated: January 31, 2023, 10:59 PM