We are now a week into the VAT era, which is too early to pass judgement on how the country adjusts to life with the consumption tax, although not too soon to identify some kinks that could be ironed out. One area of immediate concern to many people is the principle of rounding up by stores and shopkeepers. As The National reported, the Department of Economic Development has said that shops in Abu Dhabi can round up the cost of items by up to 20 fils once the 5 per cent tax is applied. This is in part because small denomination coins, such as 1, 5 and 10 fils are rarely seen in circulation.
What are the alternatives to rounding up? One answer would be to bring small denomination coins back into more common usage so exact change would be offered to customers at stores, although the Central Bank has said there is already sufficient coinage in circulation. But making the 5 fils coin more common would be to buck a worldwide trend for removing small value change. The US withdrew the half-cent coin and the UK withdrew the halfpenny coin in the 20th Century, while more recently, in 2012, Canada stopped minting the penny coin. Ireland withdrew the 1 and 2 cents coins in 2015, the country is part of the eurozone, and allows shops to round up or down by up to four cents, which is the equivalent of 18 fils, a figure that is very close to the DED rounding recommendation in this country.
An alternative would be to look at the example of China, where cash is, if not quite obsolete, then in steep decline. Secure electronic payments are predicted to top US$45 trillion within three years in China, where most small transactions in stores are completed using digital wallet services such as WeChat Pay. Widespread adoption of digital wallets – Apple Pay was introduced in the UAE last year – would flatten the need for rounding and reduce some of the instant inflationary pressures it causes, particularly for lower-paid workers. Even other debit-card related solutions, such as Touch and Pay, would help take rounding out of circulation.
COMPANY%20PROFILE
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Copa del Rey
Semi-final, first leg
Barcelona 1 (Malcom 57')
Real Madrid (Vazquez 6')
Second leg, February 27
Why your domicile status is important
Your UK residence status is assessed using the statutory residence test. While your residence status – ie where you live - is assessed every year, your domicile status is assessed over your lifetime.
Your domicile of origin generally comes from your parents and if your parents were not married, then it is decided by your father. Your domicile is generally the country your father considered his permanent home when you were born.
UK residents who have their permanent home ("domicile") outside the UK may not have to pay UK tax on foreign income. For example, they do not pay tax on foreign income or gains if they are less than £2,000 in the tax year and do not transfer that gain to a UK bank account.
A UK-domiciled person, however, is liable for UK tax on their worldwide income and gains when they are resident in the UK.
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
Tuesday's fixtures
Kyrgyzstan v Qatar, 5.45pm
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
The specs: Hyundai Ionic Hybrid
Price, base: Dh117,000 (estimate)
Engine: 1.6L four-cylinder, with 1.56kWh battery
Transmission: Six-speed automatic
Power: 105hp (engine), plus 43.5hp (battery)
Torque: 147Nm (engine), plus 170Nm (battery)
Fuel economy, combined: 3.4L / 100km
Election pledges on migration
CDU: "Now is the time to control the German borders and enforce strict border rejections"
SPD: "Border closures and blanket rejections at internal borders contradict the spirit of a common area of freedom"
Book%20Details
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How to apply for a drone permit
- Individuals must register on UAE Drone app or website using their UAE Pass
- Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
- Upload the training certificate from a centre accredited by the GCAA
- Submit their request
What are the regulations?
- Fly it within visual line of sight
- Never over populated areas
- Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
- Users must avoid flying over restricted areas listed on the UAE Drone app
- Only fly the drone during the day, and never at night
- Should have a live feed of the drone flight
- Drones must weigh 5 kg or less
Jumanji: The Next Level
Director: Jake Kasdan
Stars: Dwayne Johnson, Kevin Hart, Karen Gillan, Jack Black, Nick Jonas
Two out of five stars
COMPANY%20PROFILE
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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
