Washington is ordering 500 million of Pfizer-BioNTech's Covid-19 vaccines to share with other countries, it was reported on Wednesday.
The move marks a major step towards President Joe Biden's plans for a bigger US role in the fight against the pandemic, which has killed more than 3.7 million people worldwide.
The Washington Post first reported the news shortly after Mr Biden said on Wednesday, before he boarded a flight to the UK, that he would soon have an update on the country's global vaccine strategy.
He is expected to announce it in a speech to the G7 summit as early as Thursday, and Pfizer chief executive Albert Bourla could appear alongside him, The New York Times reported.
The US will send out 200 million doses this year, enough to fully vaccinate up to 100 million people, AP reported.
The remaining 300 million doses will be distributed in early 2022.
More than 52 per cent of the adult population in the US has been fully vaccinated and supply has largely outgrown demand.
The US Centres for Disease Control and Prevention reported a seven-day average of fewer than 850,000 daily vaccinations, down from a high of more than 3 million a day in April.
The Pfizer order helps to solidify Mr Biden's goal of turning the US into the world's vaccine "arsenal".
"Strong American leadership is essential to ending this pandemic now and to strengthening global health security for tomorrow – to better prevent, detect and respond to the next threat," he said this month.
"The United States will be the world’s arsenal of vaccines in our shared fight against this virus."
The Biden administration had already committed to donating 80 million Covid-19 vaccines to some countries by the end of June, including vaccines originally intended for use by Americans.
It is the largest donation made by any country so far.
Tens of thousands of AstraZeneca's vaccines were also "lent" to US neighbours Canada and Mexico earlier in the pandemic.
The World Health Organisation-backed Covax scheme recently announced a shortfall of millions of vaccine doses needed to inoculate people in poorer nations.
WHO chief Dr Tedros Adhanom Ghebreyesus has called on rich countries to help out as the situation becomes a "two-track" pandemic, with infections decreasing in highly vaccinated countries and surging in poor countries with little access to shots.
The doses from the Pfizer-BioNTech order will be sent to the Covax programme and the African Union for distribution in 92 lower-income countries, AP reported.
The specs
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Power: 261hp at 5,500rpm
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Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
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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
MATCH INFO
Leeds United 0
Brighton 1 (Maupay 17')
Man of the match: Ben White (Brighton)
Cryopreservation: A timeline
- Keyhole surgery under general anaesthetic
- Ovarian tissue surgically removed
- Tissue processed in a high-tech facility
- Tissue re-implanted at a time of the patient’s choosing
- Full hormone production regained within 4-6 months
Company Profile
Founder: Omar Onsi
Launched: 2018
Employees: 35
Financing stage: Seed round ($12 million)
Investors: B&Y, Phoenician Funds, M1 Group, Shorooq Partners
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