Trump pleads not guilty in classified documents case
Donald Trump pleaded not guilty on Tuesday to 37 federal charges stemming from his handling of classified documents, marking an unprecedented moment in US history that seems sure to further polarise the nation.
In the first ever criminal prosecution of a former president, Mr Trump is accused of wilful possession of national security secrets after his presidency ended in 2021, conspiracy to commit obstruction of justice and making false statements.
"We are certainly entering a plea of not guilty," Todd Blanche, Mr Trump's lawyer, told the Miami hearing.
Mr Trump has repeatedly proclaimed his innocence and accuses Democratic President Joe Biden's administration of making him the target of a political witch hunt. He took to his Truth Social platform to denounce the case shortly before heading into court.
“One of the saddest days in the history of our country,” Mr Trump wrote. “We are a nation in decline!”
It is the second time this year Mr Trump has been indicted. In April, Mr Trump pleaded not guilty to 34 felony counts of falsifying business records to cover up the illegal payment of hush money his lawyer made to an adult film star in 2016.
He also is being investigated for his role in the January 6, 2021, insurrection and whether he unlawfully attempted to overturn election results in Georgia.
Dozens of Trump supporters gathered outside the Miami courthouse, many wearing red Make America Great Again, or Maga, baseball caps. One held up a sign reading “Indict Jack Smith”, the special counsel who brought the charges against Mr Trump.
Police, including some on horseback and bicycles, braced for protests and the possibility of unrest, but the atmosphere was festive, with a local radio station blasting Cuban salsa music.
After the hearing, Mr Trump was due to fly to his golf club in Bedminster, New Jersey, and give a speech to supporters.
Mr Trump is the front-runner in the 2024 Republican primary, with Florida Governor Ron DeSantis trailing a distant second. The latest indictment has not hurt the former president's standing among Republican voters, many of whom view the prosecution in Miami as politically motivated.
Prosecutors say Mr Trump stored hundreds of classified documents at his Mar-a-Lago estate in Palm Beach, Florida, after he left the White House. He stored the files haphazardly at the popular property, where thousands of guests and visitors come and go.
Some sensitive documents were even kept in a bathroom – a far cry from the government “Scif” rooms where classified information is supposed to be viewed by those holding security clearances.
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
Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
