Islamabad // Pakistan’s Nawaz Sharif was put up for sale on eBay with bids soaring to more than US$90,000 (Dh370,575) on Thursday after an anonymous user gave vent to frustrations with the prime minister over the Panama Papers leak.
“Useless Pakistani Pm Nawaz Sharif for Sale” stated the post by long-time user mastavis on the popular e-commerce website, describing the leader as “new with defects”.
“No longer needed. Needs a bit of TLC,” the post continued.
“Not in working condition. It never worked. It was faulty and corrupt by birth. The whole range of the product and its family is Genetically defected and corrupt ... Take it away and rid us of this disease.”
The post, which went viral in Pakistan, promised to throw in Mr Sharif’s brother Shahbaz, the current governor of Punjab province, for free.
Earlier this week, British prime minister David Cameron was also briefly put up for auction on eBay.
The seller wrote: “Used Prime Minister. No longer needed. Needs a bit of TLC. No box or instructions. Buyer must collect. Seller not prepared to touch item. Pick up from central London, address will be supplied on completion of sale. Buyer must arrange own transport.”
The listing was subsequently removed.
Mr Sharif has been under pressure since the so-called Panama Papers leak linked his family to a series of offshore companies.
Earlier this month he announced the formation of a commission to investigate the allegations in the documents from Panama-based law firm Mossack Fonseca that have exposed how some of the world’s most powerful secrete their assets offshore.
Three of Mr Sharif’s four children are named in the Panama Papers – his daughter Maryam, who has been tipped to be his political successor, and sons Hasan and Hussain.
The records showed they owned London real estate through offshore companies administered by Mossack Fonseca.
The premier, who is currently in London, has insisted his family has done “nothing wrong”.
Revenue generation is particularly sensitive for Pakistan’s government, which is receiving a $6.6 billion bailout package from the IMF and has a tax-to-GDP ratio of 11 percent, among the lowest in the world.* Agence France-Presse
Tamkeen's offering
- Option 1: 70% in year 1, 50% in year 2, 30% in year 3
- Option 2: 50% across three years
- Option 3: 30% across five years
Analysis
Members of Syria's Alawite minority community face threat in their heartland after one of the deadliest days in country’s recent history. Read more
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How to help
Send “thenational” to the following numbers or call the hotline on: 0502955999
2289 – Dh10
2252 – Dh 50
6025 – Dh20
6027 – Dh 100
6026 – Dh 200
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
The Prison Letters of Nelson Mandela
Edited by Sahm Venter
Published by Liveright
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Background: Chemical Weapons
Crops that could be introduced to the UAE
1: Quinoa
2. Bathua
3. Amaranth
4. Pearl and finger millet
5. Sorghum
The Buckingham Murders
Starring: Kareena Kapoor Khan, Ash Tandon, Prabhleen Sandhu
Director: Hansal Mehta
Rating: 4 / 5
Company Profile:
Name: The Protein Bakeshop
Date of start: 2013
Founders: Rashi Chowdhary and Saad Umerani
Based: Dubai
Size, number of employees: 12
Funding/investors: $400,000 (2018)
The biog
Hometown: Cairo
Age: 37
Favourite TV series: The Handmaid’s Tale, Black Mirror
Favourite anime series: Death Note, One Piece and Hellsing
Favourite book: Designing Brand Identity, Fifth Edition
Like a Fading Shadow
Antonio Muñoz Molina
Translated from the Spanish by Camilo A. Ramirez
Tuskar Rock Press (pp. 310)
MATCH INFO
Watford 1 (Deulofeu 80' p)
Chelsea 2 (Abraham 5', Pulisic 55')
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How to watch Ireland v Pakistan in UAE
When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.
