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Israel's military would prevail even if the war with Hamas escalates to a wider regional conflict, former Israeli prime minister Ehud Barak said on Tuesday.
Mr Barak, who served as Israel's leader from 1999-2001, warned that Hezbollah has 10 times more rockets and missiles than Hamas but Israel is “still stronger” and would win even if Syria and the West Bank are drawn into the conflict.
“It's not an existential threat, but it will take more time, more losses and more friction with our supporters in the world,” said Mr Barak, speaking via video link to an event hosted by Foreign Policy magazine.
Before becoming prime minister, Mr Barak, 81, served as the top officer in the Israeli army. He went on to serve as defence minister from 2007 to 2013.
His comments came as Israel bombards the Gaza Strip and conducts increased ground operations. The Israeli government has said it wants to eradicate Hamas after gunmen attacked southern Israel on October 7, killing 1,400 people and taking more than 200 hostage.
According to local tallies, more than 8,500 Palestinians have been killed in Gaza and a humanitarian crisis is worsening in the besieged enclave, home to 2.3 million people, with Israel blocking the entry of water, food, medicine and fuel.
Only a trickle of aid has been allowed through the Egyptian border but this has increased in recent days.
Gaza's high death toll, which includes more than 3,000 children, has sparked international protests.
But US President Joe Biden's administration has staunchly supported Israel's right to defend itself and has opposed calls for a ceasefire.
The US has blocked two UN Security Council resolutions calling for a ceasefire and has pledged more military support to Israel.
“The United States stood behind us in an impressive and unprecedented way from day one,” Mr Barak said.
International support is likely to wane in the coming weeks, Mr Barak said, and so could international public opinion, complicating Israel's goal of eradicating Hamas.
As the death toll in Gaza soars, the Biden administration's tone has shifted slightly in recent days, with calls for Israel to do more to avoid civilian casualties.
“We know from our experience our universal support will erode very quickly and the legitimacy of the whole operation will be put under question,” Mr Barak said.
“Still, America will be with us – but it will be more complicated to them to stay there behind us.”
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
Who was Alfred Nobel?
The Nobel Prize was created by wealthy Swedish chemist and entrepreneur Alfred Nobel.
- In his will he dictated that the bulk of his estate should be used to fund "prizes to those who, during the preceding year, have conferred the greatest benefit to humankind".
- Nobel is best known as the inventor of dynamite, but also wrote poetry and drama and could speak Russian, French, English and German by the age of 17. The five original prize categories reflect the interests closest to his heart.
- Nobel died in 1896 but it took until 1901, following a legal battle over his will, before the first prizes were awarded.
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