A titanic Mercedes-GP title tussle and the arrival of Max Verstappen — F1 year in review

In Formula One, it was the year that had everything and more.

From the arrival of a precocious teenage star to the abrupt retirement of a first-time champion, 2016 will be remembered as a roller-coaster of surprises, accidents, rivalries and farewells.

Dutchman Max Verstappen, the son of journeyman racer Jos Verstappen, won on his debut with the Red Bull Racing team at the Spanish Grand Prix and went on to dazzle and, sometimes, ignite hostility. A champion was born.

Defending champion and three-time title-holder Lewis Hamilton drove brilliantly, but not often enough to overcome a sequence of setbacks that proved costly — and handed his teammate and rival Nico Rosberg the crown.

■ Mercedes-GP: No Nico Rosberg replacement until 'our return to work on January 3'

■ Romain Grosjean: Reflects on debut season leading Haas following Abu Dhabi Grand Prix

The Englishman’s 10th win came in November’s season-ender here in Abu Dhabi, where he was foiled in a last-gasp attempt to create a trap for his teammate. No one has won so many races without taking the title.

Rosberg survived and overcame his nerves to finish second in a tense conclusion to a championship that had seen him lead from the front, fall behind and then regain the initiative in the closing months.

Five celebratory days later, the 31-year-old German son of the 1982 champion Keke Rosberg announced he was leaving the sport to be with his family.

Mercedes-GP, the dominant force that carried him to success on the crest of a third successive constructors’ championship, are left chasing after a replacement.

In typical F1 fashion, it appears likely that Williams driver Valtteri Bottas is being lined up as Rosberg’s replacement in the most coveted seat in the pit-lane for the faster ‘new-look’ cars of 2017.

The placid Bottas may prove to be a perfect choice, not least because of his temperament. He has plenty of speed, too, but is unlikely to match Rosberg’s run of wins.

Rosberg reeled off wins in Australia, Bahrain, China and Russia to leave Hamilton panting in pursuit. When the F1 circus reached Barcelona, he led by 43 points.

On May 15, the first major pivot in the drama arrived. The two Mercedes men collided into each other on the opening lap, Verstappen blazed to glory, aged 18, and F1’s order was truly shaken up.

Two weeks later, he almost won in Monaco, but for a messy pit-stop strategy and the excellence of Hamilton in the rain, the Briton winning for the first time in more than six months.

In the same two races, Rosberg’s early-season confidence went from easy to brittle. He led the points’ chart, but he could sense Hamilton’s heat and speed and the chase was on.

It stayed that way with Hamilton eventually taking over the championship lead in July after a phenomenal run of wins.

But his engine failures and other assorted mechanical problems cost him dear with penalties when the action resumed in Belgium where he took as many new parts as possible and conceded victory to Rosberg.

Revived Rosberg took full advantage of Hamilton’s wavering concentration and won again in Italy and then in Singapore and Japan, after Ricciardo had triumphed in Malaysia.

Mercedes dominance was unquestioned, but Red Bull were back as their main rivals while Ferrari blustered and flustered, accompanied by a rumour machine suggesting weekly fallouts in the team.

All this left Hamilton a distant second, but he ended the year as Rosberg began it with four straight wins, including a demonstration in the rain in Brazil where Verstappen raced from 15th to finish third.

By then, too, it was clear only a minor miracle could enable Hamilton to keep his crown as Rosberg finished second and second and second and second. It was all he needed in the nerve-shredding duel in the UAE capital.

There, he wept with joy while others, including popular veterans Briton Jenson Button and Brazilian Felipe Massa signed off. In a year of some upheaval, McLaren also said goodbye in acrimonious circumstances to their long-serving boss Ron Dennis after a boardroom shake-up.

* Agence France-Presse

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Moon Music

Artist: Coldplay

Label: Parlophone/Atlantic

Number of tracks: 10

Rating: 3/5

Australia squads

ODI: Tim Paine (capt), Aaron Finch (vice-capt), Ashton Agar, Alex Carey, Josh Hazlewood, Travis Head, Nathan Lyon, Glenn Maxwell, Shaun Marsh, Jhye Richardson, Kane Richardson, D’Arcy Short, Billy Stanlake, Marcus Stoinis, Andrew Tye.

T20: Aaron Finch (capt), Alex Carey (vice-capt), Ashton Agar, Travis Head, Nic Maddinson, Glenn Maxwell, Jhye Richardson, Kane Richardson, D’Arcy Short, Billy Stanlake, Marcus Stoinis, Mitchell Swepson, Andrew Tye, Jack Wildermuth.

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

A titanic Mercedes-GP title tussle and the arrival of Max Verstappen — F1 year in review

A look back at Formula One in 2016, a year dominated by Mercedes-GP and that welcomed the arrival of a new star.

Moon Music

Australia squads

Ten tax points to be aware of in 2026