President Sheikh Mohamed on Tuesday met Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, at Al Bahr Palace in Abu Dhabi. The meeting was also attended by Sheikh Mansour bin Zayed, Vice President, Deputy Prime Minister and Chairman of the Presidential Court.
The UAE leaders discussed the country’s core development plans and goals, state news agency Wam reported. The meeting was also attended by Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi.
It follows a UAE Cabinet meeting on Monday, chaired by Sheikh Mohammed, in which leaders reviewed the latest developments in building the Emirates’ tax system with 520,000 companies now registered for corporate tax and 470,000 for value-added tax.
Sheikh Mohammed described the tax system as a “key part of our economic foundation for the future” and said its efficiency “reflects the strength“ of the UAE's competitive economy. He added that the UAE is fifth globally in tax policy efficiency and second globally in combating tax evasion, according to the annual report of the IMD World Institute in Switzerland.
The Cabinet also approved the launch of the first integrated regulatory intelligence system within the UAE government. This new legislation and laws development system was based on advanced artificial intelligence. It is hoped the system will accelerate the legislative process by up to 70 per cent, using AI tools to reduce the time and effort required for research, drafting, evaluation, and enactment.
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The National Editorial: Is there much to celebrate on International Women's Day 2021?
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FIXTURES
All times UAE ( 4 GMT)
Friday
Saint-Etienne v Montpellier (10.45pm)
Saturday
Monaco v Caen (7pm)
Amiens v Bordeaux (10pm)
Angers v Toulouse (10pm)
Metz v Dijon (10pm)
Nantes v Guingamp (10pm)
Rennes v Lille (10pm)
Sunday
Nice v Strasbourg (5pm)
Troyes v Lyon (7pm)
Marseille v Paris Saint-Germain (11pm)
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Tomorrow 2021
ONCE UPON A TIME IN GAZA
Starring: Nader Abd Alhay, Majd Eid, Ramzi Maqdisi
Directors: Tarzan and Arab Nasser
Rating: 4.5/5
Jawan
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BIGGEST CYBER SECURITY INCIDENTS IN RECENT TIMES
SolarWinds supply chain attack: Came to light in December 2020 but had taken root for several months, compromising major tech companies, governments and its entities
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Kaseya attack: July 2021; ransomware hit perpetrated REvil, resulting in severe downtime for more than 1,000 companies
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Engine: 8.0-litre, quad-turbo 16-cylinder
Transmission: 7-speed auto
0-100kmh 2.3 seconds
0-200kmh 5.5 seconds
0-300kmh 11.6 seconds
Power: 1500hp
Torque: 1600Nm
Price: Dh13,400,000
On sale: now
Cricket World Cup League Two
Oman, UAE, Namibia
Al Amerat, Muscat
Results
Oman beat UAE by five wickets
UAE beat Namibia by eight runs
Fixtures
Wednesday January 8 –Oman v Namibia
Thursday January 9 – Oman v UAE
Saturday January 11 – UAE v Namibia
Sunday January 12 – Oman v Namibia
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Director: Jesse Armstrong
Rating: 3.5/5
Transgender report
Tax authority targets shisha levy evasion
The Federal Tax Authority will track shisha imports with electronic markers to protect customers and ensure levies have been paid.
Khalid Ali Al Bustani, director of the tax authority, on Sunday said the move is to "prevent tax evasion and support the authority’s tax collection efforts".
The scheme’s first phase, which came into effect on 1st January, 2019, covers all types of imported and domestically produced and distributed cigarettes. As of May 1, importing any type of cigarettes without the digital marks will be prohibited.
He said the latest phase will see imported and locally produced shisha tobacco tracked by the final quarter of this year.
"The FTA also maintains ongoing communication with concerned companies, to help them adapt their systems to meet our requirements and coordinate between all parties involved," he said.
As with cigarettes, shisha was hit with a 100 per cent tax in October 2017, though manufacturers and cafes absorbed some of the costs to prevent prices doubling.
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Starring: Sydney Elizebeth Agudong, Maia Kealoha, Chris Sanders
Director: Dean Fleischer Camp
Rating: 4.5/5
Company profile
Date started: 2015
Founder: John Tsioris and Ioanna Angelidaki
Based: Dubai
Sector: Online grocery delivery
Staff: 200
Funding: Undisclosed, but investors include the Jabbar Internet Group and Venture Friends
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The biog
Marital status: Separated with two young daughters
Education: Master's degree from American Univeristy of Cairo
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Favourite Motto: Their happiness is your happiness
Goal: For Nefsy to become his legacy long after he is gon
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Founders: Michele Ferrario, Nino Ulsamer and Freddy Lim
Started: established in 2016 and launched in July 2017
Based: Singapore, with offices in the UAE, Malaysia, Hong Kong, Thailand
Sector: FinTech, wealth management
Initial investment: $500,000 in seed round 1 in 2016; $2.2m in seed round 2 in 2017; $5m in series A round in 2018; $12m in series B round in 2019; $16m in series C round in 2020 and $25m in series D round in 2021
Current staff: more than 160 employees
Stage: series D
Investors: EightRoads Ventures, Square Peg Capital, Sequoia Capital India
