Ras Al Khaimah is set to continue its yearly tradition of attempting to break world records on New Year's Eve. Photo: Marjan RAK / Twitter
Ras Al Khaimah is set to continue its yearly tradition of attempting to break world records on New Year's Eve. Photo: Marjan RAK / Twitter
Ras Al Khaimah is set to continue its yearly tradition of attempting to break world records on New Year's Eve. Photo: Marjan RAK / Twitter
Ras Al Khaimah is set to continue its yearly tradition of attempting to break world records on New Year's Eve. Photo: Marjan RAK / Twitter

Abu Dhabi, Dubai and RAK bid to break fireworks world records on New Year's Eve


Evelyn Lau
  • English
  • Arabic

Records will tumble this New Year's Eve if the UAE has anything to do with it.

Whether trekking towards Al Wathba desert or heading to Downtown Dubai to watch the fireworks show around the world’s tallest building, there’s something for everyone.

Here’s a look at some of the titles organisers will attempt to win. .

Abu Dhabi

The Sheikh Zayed Festival in Al Wathba will try to break its own Guinness World Records for duration, volume and formation during its firework and light spectacle on New Year's Eve.

This includes the largest firework display, which will be on for 40 minutes, and a light show with more than 3,000 drones. In addition, there will also be other activities including performances at the Children's Theatre, games at Fun Fair City and more.

For more on the Sheikh Zayed Festival, read our story here.

Ras Al Khaimah

The emirate will attempt to break their own record with a 12-minute fireworks show, although the specific titles they are aiming for have not been disclosed yet.

Similar to last year’s spectacle, the pyro-musical will cover 4.7km along the waterfront between Al Marjan Island and Al Hamra Village.

For New Year's Eve last year, Ras Al Khaimah made a splash with a breathtaking fireworks show, using more than 15,000 effects and 452 firework drones.

It was recognised with two Guinness World Records titles — Most Remote Operated Multirotors / Drones Launching Fireworks Simultaneously, and Highest Altitude Multirotor / Drone Firework Display.

Dubai

Burj Khalifa’s New Year’s Eve programme will also see a title attempt with its light show. It will try to set a new world record for the largest laser display, while the light beams will attempt to break the record for travelling the longest distance yet.

For those who attend the event, read our story on everything you need to know about it, including information on transport and parking and how to access Downtown Dubai amid road closures.

Scroll the gallery below to see a history of fireworks in the UAE

  • The New Year's Eve celebrations in Ras Al Khaimah #RAKNYE 2022 dazzled everyone with a fireworks display that shattered two Guinness World Records. Photo: Marjan RAK/twitter
    The New Year's Eve celebrations in Ras Al Khaimah #RAKNYE 2022 dazzled everyone with a fireworks display that shattered two Guinness World Records. Photo: Marjan RAK/twitter
  • A picture taken on December 31, 2021 shows fireworks erupting from the Burj Khalifa in Dubai as part of the New Year's festivities. AFP
    A picture taken on December 31, 2021 shows fireworks erupting from the Burj Khalifa in Dubai as part of the New Year's festivities. AFP
  • Fireworks explode at Expo 2020 Dubai to mark New Year 2022. Reuters
    Fireworks explode at Expo 2020 Dubai to mark New Year 2022. Reuters
  • Spectacular fireworks display at the stroke of midnight to ring in the New Year 2022 on Al Maryah Island, Abu Dhabi. Khushnum Bhandari / The National
    Spectacular fireworks display at the stroke of midnight to ring in the New Year 2022 on Al Maryah Island, Abu Dhabi. Khushnum Bhandari / The National
  • Grand fireworks lit up the night sky along the Abu Dhabi Corniche for UAE at 50 celebrations on December 2, 2021. Khushnum Bhandari / The National
    Grand fireworks lit up the night sky along the Abu Dhabi Corniche for UAE at 50 celebrations on December 2, 2021. Khushnum Bhandari / The National
  • The fireworks on the UAE's 50th National Day in 2021 in Abu Dhabi. Khushnum Bhandari / The National
    The fireworks on the UAE's 50th National Day in 2021 in Abu Dhabi. Khushnum Bhandari / The National
  • Golden Jubilee fireworks at Al Maryah island in Abu Dhabi. Deepak Fernandez / The National
    Golden Jubilee fireworks at Al Maryah island in Abu Dhabi. Deepak Fernandez / The National
  • Fireworks as part of the 50th National Day celebration at the Expo 2020 Dubai site on December 1. Pawan Singh / The National
    Fireworks as part of the 50th National Day celebration at the Expo 2020 Dubai site on December 1. Pawan Singh / The National
  • Fireworks are set off from the Yas Bay waterfront to mark Eid Al Fitr on May 13, 2021. Victor Besa / The National
    Fireworks are set off from the Yas Bay waterfront to mark Eid Al Fitr on May 13, 2021. Victor Besa / The National
  • Fireworks light the sky above Ain Dubai (the Dubai Eye), the world’s largest and tallest observation wheel, to celebrate Diwali, the Hindu Festival of Lights, on November 4, 2021. AFP
    Fireworks light the sky above Ain Dubai (the Dubai Eye), the world’s largest and tallest observation wheel, to celebrate Diwali, the Hindu Festival of Lights, on November 4, 2021. AFP
  • Diwali celebrations at Ain Dubai in 2021. AFP
    Diwali celebrations at Ain Dubai in 2021. AFP
  • Dubai's Burj Khalifa, the world's tallest skyscraper, is lit by fireworks during its opening ceremony on January 4, 2010. AFP
    Dubai's Burj Khalifa, the world's tallest skyscraper, is lit by fireworks during its opening ceremony on January 4, 2010. AFP
  • People watch as fireworks set off above Atlantis, The Palm hotel during the first day of Expo 2020 Dubai on October 1, 2021. Reuters
    People watch as fireworks set off above Atlantis, The Palm hotel during the first day of Expo 2020 Dubai on October 1, 2021. Reuters
  • Fireworks at Atlantis, The Palm to mark Expo 2020 Dubai. Reuters
    Fireworks at Atlantis, The Palm to mark Expo 2020 Dubai. Reuters
  • The opening of Expo 2020 Dubai was marked by fireworks across the emirate. Reuters
    The opening of Expo 2020 Dubai was marked by fireworks across the emirate. Reuters
  • Fireworks take place every weekend at Global Village in Dubai throughout the season. Photo: Global Village
    Fireworks take place every weekend at Global Village in Dubai throughout the season. Photo: Global Village
  • In May 2021, Global Village attempted the world record for highest fireworks, with 20 skydivers landing at the fair with fireworks. Chris Whiteoak / The National
    In May 2021, Global Village attempted the world record for highest fireworks, with 20 skydivers landing at the fair with fireworks. Chris Whiteoak / The National
  • In 2018, a fireworks show in Ras Al Khaimah was choreographed to seven chapters and set to global music by 14 renowned composers. Photo: Ras Al Khaimah Tourism Development Authority
    In 2018, a fireworks show in Ras Al Khaimah was choreographed to seven chapters and set to global music by 14 renowned composers. Photo: Ras Al Khaimah Tourism Development Authority
  • Ras Al Khaimah and Al Marjan Island ushered in 2018 by setting the Guinness World Record for the ‘largest aerial firework shell’. Photo: Ras Al Khaimah Tourism Development Authority
    Ras Al Khaimah and Al Marjan Island ushered in 2018 by setting the Guinness World Record for the ‘largest aerial firework shell’. Photo: Ras Al Khaimah Tourism Development Authority
  • Ras Al Khaimah put on a record-breaking fireworks display on New Year's Eve in 2019. Chris Whiteoak / The National
    Ras Al Khaimah put on a record-breaking fireworks display on New Year's Eve in 2019. Chris Whiteoak / The National
  • Fireworks display at the Yas Waterfront, Abu Dhabi, in honour of Saudi Arabia’s 91st National Day on September 23. 2021. Victor Besa / The National
    Fireworks display at the Yas Waterfront, Abu Dhabi, in honour of Saudi Arabia’s 91st National Day on September 23. 2021. Victor Besa / The National
  • More New Year’s Eve fireworks at the Abu Dhabi Corniche Breakwater. Victor Besa for The National
    More New Year’s Eve fireworks at the Abu Dhabi Corniche Breakwater. Victor Besa for The National
  • There are always fireworks to mark the Formula Grand Prix finale in Abu Dhabi. Photo: Crown Prince Court - Abu Dhabi
    There are always fireworks to mark the Formula Grand Prix finale in Abu Dhabi. Photo: Crown Prince Court - Abu Dhabi
  • People enjoying the fireworks on Abu Dhabi Corniche to celebrate the 41st UAE National Day in 2012. Ravindranath K / The National
    People enjoying the fireworks on Abu Dhabi Corniche to celebrate the 41st UAE National Day in 2012. Ravindranath K / The National
The five pillars of Islam
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

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Financial considerations before buying a property

Buyers should try to pay as much in cash as possible for a property, limiting the mortgage value to as little as they can afford. This means they not only pay less in interest but their monthly costs are also reduced. Ideally, the monthly mortgage payment should not exceed 20 per cent of the purchaser’s total household income, says Carol Glynn, founder of Conscious Finance Coaching.

“If it’s a rental property, plan for the property to have periods when it does not have a tenant. Ensure you have enough cash set aside to pay the mortgage and other costs during these periods, ideally at least six months,” she says. 

Also, shop around for the best mortgage interest rate. Understand the terms and conditions, especially what happens after any introductory periods, Ms Glynn adds.

Using a good mortgage broker is worth the investment to obtain the best rate available for a buyer’s needs and circumstances. A good mortgage broker will help the buyer understand the terms and conditions of the mortgage and make the purchasing process efficient and easier. 

Updated: December 23, 2022, 4:37 AM