• LE CASTELLET, FRANCE - JULY 24: Niall Horan and Amelia Woolley pose for a photo on the grid during the F1 Grand Prix of France at Circuit Paul Ricard on July 24, 2022 in Le Castellet, France. (Photo by Mark Thompson / Getty Images)
    LE CASTELLET, FRANCE - JULY 24: Niall Horan and Amelia Woolley pose for a photo on the grid during the F1 Grand Prix of France at Circuit Paul Ricard on July 24, 2022 in Le Castellet, France. (Photo by Mark Thompson / Getty Images)
  • Red Bull team principal Christian Horner with singer Niall Horan at the French GP on Sunday. Getty
    Red Bull team principal Christian Horner with singer Niall Horan at the French GP on Sunday. Getty
  • Actor Matthew McConaughey, right, wife Camilla Alves and photographer JR, second left, at the French GP. Getty
    Actor Matthew McConaughey, right, wife Camilla Alves and photographer JR, second left, at the French GP. Getty
  • Red Bull team principal Christian Horner with Niall Horan. Getty
    Red Bull team principal Christian Horner with Niall Horan. Getty
  • Matthew McConaughey in the paddock at Circuit Paul Ricard on Sunday. Getty
    Matthew McConaughey in the paddock at Circuit Paul Ricard on Sunday. Getty
  • Actor Finn Cole with the car of Max Verstappen. Getty
    Actor Finn Cole with the car of Max Verstappen. Getty
  • French rally driver Sebastien Loeb at Circuit Paul Ricard on Sunday. Getty
    French rally driver Sebastien Loeb at Circuit Paul Ricard on Sunday. Getty
  • Max Verstappen and Red Bull celebrate their win at the French GP on Sunday. Getty
    Max Verstappen and Red Bull celebrate their win at the French GP on Sunday. Getty
  • Fans at Circuit Paul Ricard on Sunday. Getty
    Fans at Circuit Paul Ricard on Sunday. Getty

Niall Horan, Matthew McConaughey and other celebrities at French GP - in pictures


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Red Bull driver Max Verstappen won an enthralling French Grand Prix on Sunday and took a giant step towards a second F1 title after Ferrari's Charles Leclerc crashed out while leading the race.

The Dutchman showed immense control in the searing heat at Circuit Paul Ricard to finish 10.587 seconds ahead of Mercedes' Lewis Hamilton, in his 300th race, with George Russell, in the second Mercedes, third.

It was Verstappen's seventh win this season and the 27th of his career, placing him 63 points ahead of Leclerc in the drivers' standings.

Leclerc accepted the blame after he crashed while leading the race.

The Monegasque driver, who led for 18 laps, lost control of his car at the high-speed Le Beausset corner where he spun and slowed before hitting the tyre barriers.

Leclerc was unhurt but distressed at losing another possible win. "A mistake, my mistake," said Leclerc.

"I think I am performing at the highest level of my career, but if I keep doing these mistakes then it is pointless to perform at a very high level. It's unacceptable. I just need to get on top of those things."

Meanwhile, Hamilton revealed he shed around three kilos after a water bottle malfunction left him sweating in second place.

Hamilton lay on the floor of the cooling-down room before going on the podium.

A number of celebrities were the at French GP on Sunday to enjoy the action. Hollywood star Matthew McConaughey, singer Niall Horan and actor Finn Cole were among the famous names in attendance.

COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3ECompany%3A%3C%2Fstrong%3E%20Eco%20Way%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%20December%202023%3Cbr%3E%3Cstrong%3EFounder%3A%3C%2Fstrong%3E%20Ivan%20Kroshnyi%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%2C%20UAE%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20Electric%20vehicles%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Bootstrapped%20with%20undisclosed%20funding.%20Looking%20to%20raise%20funds%20from%20outside%3Cbr%3E%3C%2Fp%3E%0A
Sri Lanka squad for tri-nation series

Angelo Mathews (c), Upul Tharanga, Danushka Gunathilaka, Kusal Mendis, Dinesh Chandimal, Kusal Janith Perera, Thisara Perera, Asela Gunaratne, Niroshan Dickwella, Suranga Lakmal, Nuwan Pradeep, Dushmantha Chameera, Shehan Madushanka, Akila Dananjaya, Lakshan Sandakan and Wanidu Hasaranga

England squad

Moeen Ali, James Anderson, Jofra Archer, Jonny Bairstow, Dominic Bess, James Bracey, Stuart Broad, Rory Burns, Jos Buttler, Zak Crawley, Sam Curran, Joe Denly, Ben Foakes, Lewis Gregory, Keaton Jennings, Dan Lawrence, Jack Leach, Saqib Mahmood, Craig Overton, Jamie Overton, Matthew Parkinson, Ollie Pope, Ollie Robinson, Joe Root, Dom Sibley, Ben Stokes, Olly Stone, Amar Virdi, Chris Woakes, Mark Wood

Expo details

Expo 2020 Dubai will be the first World Expo to be held in the Middle East, Africa and South Asia

The world fair will run for six months from October 20, 2020 to April 10, 2021.

It is expected to attract 25 million visits

Some 70 per cent visitors are projected to come from outside the UAE, the largest proportion of international visitors in the 167-year history of World Expos.

More than 30,000 volunteers are required for Expo 2020

The site covers a total of 4.38 sqkm, including a 2 sqkm gated area

It is located adjacent to Al Maktoum International Airport in Dubai South

GOLF’S RAHMBO

- 5 wins in 22 months as pro
- Three wins in past 10 starts
- 45 pro starts worldwide: 5 wins, 17 top 5s
- Ranked 551th in world on debut, now No 4 (was No 2 earlier this year)
- 5th player in last 30 years to win 3 European Tour and 2 PGA Tour titles before age 24 (Woods, Garcia, McIlroy, Spieth)

Zakat definitions

Zakat: an Arabic word meaning ‘to cleanse’ or ‘purification’.

Nisab: the minimum amount that a Muslim must have before being obliged to pay zakat. Traditionally, the nisab threshold was 87.48 grams of gold, or 612.36 grams of silver. The monetary value of the nisab therefore varies by current prices and currencies.

Zakat Al Mal: the ‘cleansing’ of wealth, as one of the five pillars of Islam; a spiritual duty for all Muslims meeting the ‘nisab’ wealth criteria in a lunar year, to pay 2.5 per cent of their wealth in alms to the deserving and needy.

Zakat Al Fitr: a donation to charity given during Ramadan, before Eid Al Fitr, in the form of food. Every adult Muslim who possesses food in excess of the needs of themselves and their family must pay two qadahs (an old measure just over 2 kilograms) of flour, wheat, barley or rice from each person in a household, as a minimum.

F1 The Movie

Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem

Director: Joseph Kosinski

Rating: 4/5

Gulf Under 19s final

Dubai College A 50-12 Dubai College B

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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Results

1. Mathieu van der Poel (NED) Alpecin-Fenix - 3:45:47

2. David Dekker (NED) Jumbo-Visma - same time

3. Michael Morkov (DEN) Deceuninck-QuickStep   

4. Emils Liepins (LAT) Trek-Segafredo

5. Elia Viviani (ITA) Cofidis

6. Tadej Pogacar (SLO UAE Team Emirates

7. Anthony Roux (FRA) Groupama-FDJ

8. Chris Harper (AUS) Jumbo-Visma - 0:00:03

9. Joao Almeida (POR) Deceuninck-QuickStep         

10. Fausto Masnada (ITA) Deceuninck-QuickStep

Global state-owned investor ranking by size

1.

United States

2.

China

3.

UAE

4.

Japan

5

Norway

6.

Canada

7.

Singapore

8.

Australia

9.

Saudi Arabia

10.

South Korea

Updated: July 25, 2022, 4:53 AM