You will have likely heard of Groundhog Day, largely thanks to the Bill Murray movie of the same name. But what is it? The answer lies in the US Midwest as anticipation builds for the 2024 event to unfold.
As it begins to emerge from the winter cold, every year, eyes turn to a small town in Pennsylvania on February 2 to see if a groundhog, known as Punxsutawney Phil, will see his shadow.
What is Groundhog Day?
According to the legend, if the creature, named after the Pennsylvania town, sees its shadow, that means six more weeks of winter.
It’s a piece of American folklore that has taken on a life of its own.
Each year, Punxsutawney hosts a mass Groundhog Day gathering, including many who fly in from outside the US, for the ultimate weather report. Much of the appeal stems from Murray's popular 1993 movie.
There's much that could be written about how the quirky meet-up evolved from its early beginnings in Germany before making its way to Punxsutawney in 1886, but I'll leave that to the Groundhog Day organisers.
Instead, I will skip right to the heart of the matter: the generations of groundhogs named Punxsutawney Phil.
Has Punxsutawney Phil ever got a prediction wrong?
Full disclosure: I’ve never actually attended a Groundhog Day event despite, at one point, living approximately an hour away from Punxsutawney. That being said, I did cover a few small stories surrounding the tradition.
One of these was in 2013. As a general assignment reporter covering central Pennsylvania at the time, I was tasked with meeting the rodent himself.
It was a year when poor Phil got it wrong. A prediction of a brisk winter was upended by a seemingly endless freeze.
As a result, a lawyer tried to have the groundhog extradited from Pennsylvania to an Ohio courtroom on charges of misleading the public.
It was a brilliant PR stunt. As part of the story, I interviewed the group tasked with keeping an eye on Phil, who resides in a comfortable enclosure known as Phil’s Burrow. It is located within the Punxsutawney Library, near the children’s books section.
These dedicated guardians are known as the “inner circle”, and they lovingly refer to Phil as the “prognosticator of prognosticators".
While the story itself was unremarkable, I do remember being surprised by a few things.
I recall Phil being transported in an open and relatively spacious circular plastic cage, before being taken out by one of his handlers for the interview.
I also remember that if the library isn’t open, you can actually see Phil’s Burrow from the outside — of course, I snapped myself in front of his digs.
Sitting here thousands of miles away in an Abu Dhabi newsroom, I am glad that Groundhog Day remains a big part of Punxsutawney tradition.
It is a story of the “little guy” fighting the elements and it sheds light on a quirky piece of American history.
German intelligence warnings
- 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
- 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
- 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250
Source: Federal Office for the Protection of the Constitution
The five pillars of Islam
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Results
Stage 7:
1. Caleb Ewan (AUS) Lotto Soudal - 3:18:29
2. Sam Bennett (IRL) Deceuninck-QuickStep - same time
3. Phil Bauhaus (GER) Bahrain Victorious
4. Michael Morkov (DEN) Deceuninck-QuickStep
5. Cees Bol (NED) Team DSM
General Classification:
1. Tadej Pogacar (SLO) UAE Team Emirates - 24:00:28
2. Adam Yates (GBR) Ineos Grenadiers - 0:00:35
3. Joao Almeida (POR) Deceuninck-QuickStep - 0:01:02
4. Chris Harper (AUS) Jumbo-Visma - 0:01:42
5. Neilson Powless (USA) EF Education-Nippo - 0:01:45
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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