Cameron Smith survived a wild week and a rollercoaster final round to claim a one-shot victory over Anirban Lahiri at the Players Championship on Monday and collect the PGA Tour's biggest payout, pocketing the winner's cheque of $3.6 million.
Two shots back of front-running Lahiri going into the weather-delayed final round, the 28-year-old Australian held his nerve when needed, carding a six-under 66 for a winning total of 13-under 275 to capture his second title of the season and fifth of his career.
Lahiri closed with a 69, his disappointment eased by the $2.1 million second-place purse while Briton Paul Casey returned a final round 69 as well to finish two shots back alone in third.
"I felt as though one of these big ones was the next step for me," said Smith. "I've knocked on the door a few times and I just felt like it was my time. I hit a lot of quality golf shots and didn't really back down and just kept trying to make birdies."
He made 10 of them in the final round, most with his putter one-putting 13 holes. Smith mounted an early charge rolling in a 38-foot putt for birdie at the first and continued to ring them up, registering five on his opening six holes.
But his round went off the rails with three straight bogeys from the seventh to wobble into the turn. Smith's Jekyll and Hyde round took another sudden twist with four consecutive birdies to start the back nine constructing what looked to be a comfortable three-shot cushion heading onto the 18th.
Lahiri, bidding to become just the second golfer from India to win on the PGA Tour, birdied the famous par-three 17th island green to trim the lead to two while ahead of him, Smith had found the water.
Smith took bogey at 18, leaving Lahiri needing a birdie at the last to force a playoff, coming up just short when his chip from 40 feet came to rest inches from the cup.
With torrential rains and raging winds hammering the TPC Sawgrass through the opening rounds, the PGA Tour's flagship event became a test of endurance with a Monday finish and Smith proved he could go the distance claiming golf's unofficial fifth major and the PGA Tour's richest stop with a total prize purse of $20 million.
Dustin Johnson had the round of the day, matching the course record with a nine-under 63 to climb up into a tie for ninth while world No 1 Jon Rahm closed out a tough week with a five-over 77 to finish well back, tied for 55th.
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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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