A 2.9-magnitude earthquake was recorded south of the Omani exclave of Musandam in the early hours of Sunday and was “slightly felt” in the UAE. The NCM said in its initial report that the earthquake had been “felt by residents without causing any impact in the UAE”. More tax audits Tax authorities are increasingly using data already available across multiple filings to identify audit risks. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes. 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.

Source: Ethiopian News December 29, 2025 03:09 UTC