The US on Monday imposed fresh sanctions on 10 senior Iranian officials and the Islamic Revolutionary Guard Corps Co-operative Foundation, as Washington continues to pressure Tehran over its crackdown on nationwide protests.
The IRGC Co-operative Foundation was established to manage the organisation's presence in Iran's private sector, the Treasury said.
It added that five of the foundation's board members, the deputy minister of intelligence and security, and four senior IRGC commanders had been hit with sanctions.
Washington's announcement “targets a key economic pillar of the IRGC, which funds much of the regime’s brutal suppression as well as senior security officials co-ordinating Tehran’s crackdown at the national and provincial levels”, the Treasury said.
Among those sanctioned were Ali Asghar Norouzi, chairman of the group's board of directors; Seyyed Amin Ala Emami Tabatabai, managing director and vice chairman; and IRGC officers Mohammad Nazar Azimi, Mojtaba Fada and Hossein Tanavar.
Also sanctioned was Deputy Minister for Intelligence Naser Rashedi. The Treasury said Ministry of Intelligence and Security agents have been linked to human rights abuses aimed at suppressing the protests.
This was the ninth round of sanctions the US has issued since Tehran began its crackdown on protests and limited Iran's access to the internet, the Treasury said.
Those sanctioned are forbidden from being involved in any business with any person in the US, and any assets they may own in the US are frozen.
The Treasury said Monday's designation was made in co-ordination with the UK and EU.
“The United States remains committed to supporting the Iranian people in their demands for human rights and other fundamental freedoms,” said Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian Nelson.
“Along with our partners, we will continue to hold the Iranian regime accountable so long as it relies upon violence, sham trials, the execution of protesters and other means of suppressing its people.”
Earlier on Monday, the EU imposed sanctions on 37 Iranian officials and entities, freezing their assets and barring them from obtaining visas.
Dubai Bling season three
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Traits of Chinese zodiac animals
Tiger:independent, successful, volatile
Rat:witty, creative, charming
Ox:diligent, perseverent, conservative
Rabbit:gracious, considerate, sensitive
Dragon:prosperous, brave, rash
Snake:calm, thoughtful, stubborn
Horse:faithful, energetic, carefree
Sheep:easy-going, peacemaker, curious
Monkey:family-orientated, clever, playful
Rooster:honest, confident, pompous
Dog:loyal, kind, perfectionist
Boar:loving, tolerant, indulgent
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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
