Hindu monks arrive at the first stone-built Hindu temple in Abu Mureikha last month. AP
Hindu monks arrive at the first stone-built Hindu temple in Abu Mureikha last month. AP
Hindu monks arrive at the first stone-built Hindu temple in Abu Mureikha last month. AP
Hindu monks arrive at the first stone-built Hindu temple in Abu Mureikha last month. AP


The world needs more ministries of tolerance


The National
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March 22, 2024

The UAE’s commitment to fostering a culture of harmony and unity is exemplified through the very existence of the Ministry of Tolerance and Co-existence. It is dedicated to promoting a spirit of brotherhood and understanding, with an aim to create a society that thrives on diversity and mutual respect, particularly at a time when the world is grappling with unrest and tension.

A manifestation of this commitment was witnessed in the ministry's role in facilitating the construction of a Hindu temple in Abu Dhabi. By championing various cultural and intellectual activities, it seeks to build bridges among communities.

The UAE’s commitment to tolerance sets an inspiring example for the world.

It is time for my country India to also conceptualise the idea of tolerance and create a ministry, similar to the UAE’s approach. Such an initiative would further strengthen our nation’s commitment to fostering a harmonious society that celebrates diversity and promotes mutual understanding among all communities.

Shiben Krishen Raina, Dubai

Gaza has changed forever

I write in reference to Michael Young’s article Hamas's dilemma is that it lacked a political objective in October and it lacks one now (March 12): Mr Young writes that in negotiations with Israel, Hamas’s leader in Gaza, Yahya Sinwar, has essentially “sought a return to the status quo before October 7”. But the question is, how would a permanent ceasefire and the withdrawal of Israeli troops constitute a return to the status quo?

According to a report published by the UN Office for the Co-ordination of Humanitarian Affairs, as of last week only six hospitals are partially functional in Gaza. The Norwegian Refugee Council reports that in the first week of the Israeli operation, 43 per cent of the housing units in the territory were damaged. Full and unconditional withdrawal of Israeli troops at this moment would still leave Gaza with monumental challenges.

Name withheld by request

The scope and scale of India’s general election

I write in reference to Taniya Dutta’s article India general election: Date, voters and how the world’s largest polls are staged (March 18): those unfamiliar with India's electoral process may be startled to read that this year's general election will be held in seven phases, from April 19 to June 1. But the sheer size of both the country and its electorate makes the task of holding the world’s largest election extremely challenging, especially in the scorching heat, which explains the need to stagger it over one and a half months. The high stakes involved make this exercise even more challenging, not just for the Election Commission of India but for the security forces and other organs of government. Moreover, with much controversy surrounding electronic voting – amid concerns that machines could be compromised – bureaucrats will have their work cut out to ensure that the entire process is foolproof. They have my best wishes.

K Ragavan, Bengaluru, India

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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

 

 

About Takalam

Date started: early 2020

Founders: Khawla Hammad and Inas Abu Shashieh

Based: Abu Dhabi

Sector: HealthTech and wellness

Number of staff: 4

Funding to date: Bootstrapped

If you go...

Fly from Dubai or Abu Dhabi to Chiang Mai in Thailand, via Bangkok, before taking a five-hour bus ride across the Laos border to Huay Xai. The land border crossing at Huay Xai is a well-trodden route, meaning entry is swift, though travellers should be aware of visa requirements for both countries.

Flights from Dubai start at Dh4,000 return with Emirates, while Etihad flights from Abu Dhabi start at Dh2,000. Local buses can be booked in Chiang Mai from around Dh50

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Ms Yang's top tips for parents new to the UAE
  1. Join parent networks
  2. Look beyond school fees
  3. Keep an open mind
Milestones on the road to union

1970

October 26: Bahrain withdraws from a proposal to create a federation of nine with the seven Trucial States and Qatar. 

December: Ahmed Al Suwaidi visits New York to discuss potential UN membership.

1971

March 1:  Alex Douglas Hume, Conservative foreign secretary confirms that Britain will leave the Gulf and “strongly supports” the creation of a Union of Arab Emirates.

July 12: Historic meeting at which Sheikh Zayed and Sheikh Rashid make a binding agreement to create what will become the UAE.

July 18: It is announced that the UAE will be formed from six emirates, with a proposed constitution signed. RAK is not yet part of the agreement.

August 6:  The fifth anniversary of Sheikh Zayed becoming Ruler of Abu Dhabi, with official celebrations deferred until later in the year.

August 15: Bahrain becomes independent.

September 3: Qatar becomes independent.

November 23-25: Meeting with Sheikh Zayed and Sheikh Rashid and senior British officials to fix December 2 as date of creation of the UAE.

November 29:  At 5.30pm Iranian forces seize the Greater and Lesser Tunbs by force.

November 30: Despite  a power sharing agreement, Tehran takes full control of Abu Musa. 

November 31: UK officials visit all six participating Emirates to formally end the Trucial States treaties

December 2: 11am, Dubai. New Supreme Council formally elects Sheikh Zayed as President. Treaty of Friendship signed with the UK. 11.30am. Flag raising ceremony at Union House and Al Manhal Palace in Abu Dhabi witnessed by Sheikh Khalifa, then Crown Prince of Abu Dhabi.

December 6: Arab League formally admits the UAE. The first British Ambassador presents his credentials to Sheikh Zayed.

December 9: UAE joins the United Nations.

Labour dispute

The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.


- Abdullah Ishnaneh, Partner, BSA Law 

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Russia's Muslim Heartlands

Dominic Rubin, Oxford

Black Panther
Dir: Ryan Coogler
Starring: Chadwick Boseman, Michael B Jordan, Lupita Nyong'o
Five stars

Huddersfield Town permanent signings:

  • Steve Mounie (striker): signed from Montpellier for £11 million
  • Tom Ince (winger): signed from Derby County for £7.7m
  • Aaron Mooy (midfielder): signed from Manchester City for £7.7m
  • Laurent Depoitre (striker): signed from Porto for £3.4m
  • Scott Malone (defender): signed from Fulham for £3.3m
  • Zanka (defender): signed from Copenhagen for £2.3m
  • Elias Kachunga (winger): signed for Ingolstadt for £1.1m
  • Danny WIlliams (midfielder): signed from Reading on a free transfer
UK’s AI plan
  • AI ambassadors such as MIT economist Simon Johnson, Monzo cofounder Tom Blomfield and Google DeepMind’s Raia Hadsell
  • £10bn AI growth zone in South Wales to create 5,000 jobs
  • £100m of government support for startups building AI hardware products
  • £250m to train new AI models
Updated: March 22, 2024, 3:00 AM