Tickets for the first Formula One Saudi Arabian Grand Prix are now on sale, the country's sports ministry announced on Sunday.
The Saudi Arabian Grand Prix will take place on the weekend of December 3-5 in the historic port city of Jeddah on the Red Sea.
The Saudi Press Agency reported that the ministry, in coordination with the Saudi Automobile and Motorcycle Federation, had released 40 per cent of tickets, adding that more tickets will be available in the future according to updates the organising committee receives on the ongoing developments related to Covid-19.
"We look forward to experiencing a great race in the latest, fastest and longest street circuit in Formula 1, in addition to various types of entertainment over three days outside the circuit," said Prince Abdulaziz bin Turki Al Faisal, Minister of Sports, adding that "Saudi Arabia has become an exceptional home to the most prestigious racing series in the world."
Saudi Arabia is set to host the longest and fastest street circuit in F1. Featuring 27 corners, the Jeddah Street Circuit stretches to 6.175km in length, making it the second longest circuit on the current F1 calendar behind the legendary Spa-Francorchamps.
"I can't believe my hometown will be hosting Saudi Arabia's first ever F1 Grand Prix," says Shahza Ahmed, a Saudi national living in Jeddah. "I have grown up watching F1 around the world in places like Monaco, Bahrain and Spain, but I never thought we would have our own. It is a proud moment for the country and I can't wait to watch it with my friends and family!"
Fans will be able to choose from three categories: Paddock Club, Premium Hospitality and the Main Grandstand.
The price of the tickets for the Main Grandstand starts from SR1,800 ($480) for all three days.
Paddock Club tickets will allow visitors to enjoy the weekend at a hotel suite in Jeddah Corniche, with better views of the track, pit and will also get access to entertainment events including festivals and music concerts at F1 this year. Prices can go up to SAR 33,856 ($9,028).
Tickets and packages are now available on the official F1 website.
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
