It’s difficult to put into words just how much Monza – Sunday’s home of the Italian Grand Prix – means to Ferrari and their passionate following.
A sprawling royal park is a curious stage but there is palpable sense of the immense motorsport history in a lingering concoction of burnt oil and scorched brakes, the new buildings and old fences.
Once the scene of kings and princes on a sedate Sunday canter, the sprawling 700 hectare site has been transformed by a national obsession into a cathedral of worship for the fastest F1 race on earth.
And the speeds are such around what is effectively four straights joined by three Mickey-Mouse chicanes that accidents, even now, are inevitably serious. Topping 350kph will do that.
Over the decades 40 fans and 50 drivers have died, including Ronnie Peterson and Jochen Rindt, the sport’s only posthumous champion, killed at the 1970 staging. A fire marshal was killed by a flying wheel in 2000.
So along with the majesty and passion goes a tangible melancholy.
But still they come to worship, the Ferrari fans who have their own name – the tifosi – which quite literally means ‘those infected by a fever’.
To see a hoard of Maranello’s finest coming in and out of the circuit is to witness the modern equivalent of a feudal army, predominantly red, on the march. Giant flags fluttering, klaxons playing, flares spark and smoke bomb erupt to create a drifting red fog.
The tifosi cheer Ferrari drivers to the rafters and celebrate when rivals, even Italian ones, crash out. The race may be in progress but if their blood-red icons retire they head home en masse.
The park’s size is a both a blessing and a curse. Rabid fans flood over the walls in their thousands and disappear into the expansive woods making it impossible to patrol adequately.
I have jogged and driven the circuit at dusk and seen fans camped on the inner recesses, gathered around bonfires, built halfway up disused concrete grandstands, without fear of being removed.
In the 1990s I helicoptered back from an event at Lake Como and descended from the clouds to witness what could only be described as a small city of trucks, vans, motorhomes, caravans and seething humanity.
Outside the paddock gates the melee is the same every year. Barely controlled chaos.
Inside, what is supposed to be the calm, business epicentre of a global sporting enterprise, is transformed for one weekend into an anything-goes fashion show sprinkled with Italian madness.
My first experience of the track in 1987 as Ayrton Senna’s public relations man I was standing outside the pit lane garage after the race ended when a mechanic suddenly shouted “inside, inside”.
I dived in as the garage doors clanged shut the length of the pitlane. It became apparent why. Tens of thousands of passionate fans had found a gap and surged through the fencing to hammer enthusiastically on the steel doors. It was like being inside a drum.
My daily drive to the track took me past the gates of Villa San Martino in Arcore, owned by the nation’s most famous political figure of recent times, Silvio Berlusconi. The armed carabinieri lounging by the main gates are the most relaxed security detail in the world.
But the dichotomy that is Italy was never clearer than when I learnt from court papers that Berlusconi’s head of security there in the 1970s had been Vittorio Mangano, who died in prison in 2000, jailed for mafia activities including racketeering, kidnap and extortion. Berlusconi denied any knowledge of Mangano’s activities but later hailed the man “a hero”.
As far as the racing goes Ferrari will be praying this year’s event slides into oblivion as quick as the last round, which was their worst result in a decade.
Team boss Mattia Binotto, the figure most culpable, is right in at least one respect, they are at the centre of a raging storm. Passion cuts both ways.
Their fall from grace is such that last year’s winners at Monza are doubtful of a top 10 finish for their home race even at a circuit specifically designed to appeal to their greatest strength – power. Sadly it will only demonstrate the scale of its absence in 2020.
Perhaps it’s just as well the fans are banned by the pandemic. But I can promise you, however well the camera angles hide them, and however bad the omens are for their beloved Ferrari the tifosi will be close at hand on Sunday.
Closer, probably, than Charles Leclerc or Sebastian Vettel will be to Lewis Hamilton or Valtteri Bottas, that’s for sure.
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
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
THE BIO
Favourite car: Koenigsegg Agera RS or Renault Trezor concept car.
Favourite book: I Am Pilgrim by Terry Hayes or Red Notice by Bill Browder.
Biggest inspiration: My husband Nik. He really got me through a lot with his positivity.
Favourite holiday destination: Being at home in Australia, as I travel all over the world for work. It’s great to just hang out with my husband and family.
Disability on screen
Empire — neuromuscular disease myasthenia gravis; bipolar disorder; post-traumatic stress disorder (PTSD)
Rosewood and Transparent — heart issues
24: Legacy — PTSD;
Superstore and NCIS: New Orleans — wheelchair-bound
Taken and This Is Us — cancer
Trial & Error — cognitive disorder prosopagnosia (facial blindness and dyslexia)
Grey’s Anatomy — prosthetic leg
Scorpion — obsessive compulsive disorder and anxiety
Switched at Birth — deafness
One Mississippi, Wentworth and Transparent — double mastectomy
Dragons — double amputee
Company%20profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Fasset%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2019%0D%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Mohammad%20Raafi%20Hossain%2C%20Daniel%20Ahmed%0D%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%0D%3Cbr%3E%3Cstrong%3EInitial%20investment%3A%3C%2Fstrong%3E%20%242.45%20million%0D%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%3C%2Fstrong%3E%2086%0D%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%3C%2Fstrong%3E%20Pre-series%20B%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Investcorp%2C%20Liberty%20City%20Ventures%2C%20Fatima%20Gobi%20Ventures%2C%20Primal%20Capital%2C%20Wealthwell%20Ventures%2C%20FHS%20Capital%2C%20VN2%20Capital%2C%20local%20family%20offices%3C%2Fp%3E%0A
