• Tiger Woods on the 18th hole after missing the cut during the second round at The Open at St Andrews on Friday, July 15, 2022. EPA
    Tiger Woods on the 18th hole after missing the cut during the second round at The Open at St Andrews on Friday, July 15, 2022. EPA
  • Tiger Woods acknowledges the fans as he walks over the Swilken Bridge. Reuters
    Tiger Woods acknowledges the fans as he walks over the Swilken Bridge. Reuters
  • Tiger Woods plays out of a bunker on the sixth hole during the second round of the The Open. AP
    Tiger Woods plays out of a bunker on the sixth hole during the second round of the The Open. AP
  • Phil Mickelson also failed to make the cut on Friday. Reuters
    Phil Mickelson also failed to make the cut on Friday. Reuters
  • Phil Mickelson at St Andrews, Scotland. Getty
    Phil Mickelson at St Andrews, Scotland. Getty
  • Rory McIlroy during the second round on Friday. EPA
    Rory McIlroy during the second round on Friday. EPA
  • Australian Cameron Smith leads The Open at the halfway stage. EPA
    Australian Cameron Smith leads The Open at the halfway stage. EPA

Tiger Woods turned down $700m-$800m offer to join LIV Golf, reveals Greg Norman


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LIV Golf CEO Greg Norman has revealed that Tiger Woods turned down an offer “somewhere in the neighbourhood” of $700 million to $800m to join the breakaway tour.

During an appearance on Fox News that aired on Monday night, Norman confirmed what he told the Washington Post in a story two months ago, that the offer was “mind-blowingly enormous; we’re talking about high nine digits.”

The 46-year-old Woods, a 15-time major champion, has been opposed to LIV Golf since late last year, and he delivered his strongest comments at the Open Championship last month when he said players who joined the series had “turned their back” on the PGA Tour that made them famous.

“That number was out there before I became CEO. So that number has been out there, yes,” Norman said in the Fox News interview, which took place on Sunday at Trump National in Bedminster, New Jersey, where the third LIV Golf Invitational was held.

“And, look, Tiger is a needle-mover and of course you have to look at the best of the best,” Norman said. “So they had originally approached Tiger before I became CEO. So, yes, that number was somewhere in that neighbourhood.”

Various reports out of the UK have said Phil Mickelson received a $200m signing bonus, while Dustin Johnson received $150m. The 48-man fields, which play 54 holes with no cut, offer $25m in prize money at each event. Norman announced a 14-tournament schedule for next year.

LIV Golf currently has only one player – Johnson at No 18 – ranked in the top 20 in the world.

Asked why his rival tour has caused such an uproar among American golf fans, Norman said: “I don’t know, I really don’t care. I just love the game so much and I want to grow the game of golf and we at LIV see that opportunity not just for the men but for the women.”

The LIV Golf Invitational is off for a month during the FedEx Cup playoffs on the PGA Tour, returning over Labour Day weekend about an hour west of Boston, and then two weeks later plays in the Chicago suburbs.

Henrik Stenson, who was stripped of the Ryder Cup captaincy over his decision to join LIV Golf, won the third event on his debut. That followed Charl Schwartzel's victory at the inaugural event in London and Brendan Grace taking the title at the second tournament in Portland.

The specs

Engine: 2.0-litre 4cyl turbo

Power: 261hp at 5,500rpm

Torque: 405Nm at 1,750-3,500rpm

Transmission: 9-speed auto

Fuel consumption: 6.9L/100km

On sale: Now

Price: From Dh117,059

Jetour T1 specs

Engine: 2-litre turbocharged

Power: 254hp

Torque: 390Nm

Price: From Dh126,000

Available: Now

SPECS
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Adele: The Stories Behind The Songs
Caroline Sullivan
Carlton Books

How to help

Send “thenational” to the following numbers or call the hotline on: 0502955999
2289 – Dh10
2252 – Dh 50
6025 – Dh20
6027 – Dh 100
6026 – Dh 200

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West Asia Premiership

Dubai Hurricanes 58-10 Dubai Knights Eagles

Dubai Tigers 5-39 Bahrain

Jebel Ali Dragons 16-56 Abu Dhabi Harlequins

THE BIO

Age: 30

Favourite book: The Power of Habit

Favourite quote: "The world is full of good people, if you cannot find one, be one"

Favourite exercise: The snatch

Favourite colour: Blue

Paatal Lok season two

Directors: Avinash Arun, Prosit Roy 

Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong

Rating: 4.5/5

Name: Peter Dicce

Title: Assistant dean of students and director of athletics

Favourite sport: soccer

Favourite team: Bayern Munich

Favourite player: Franz Beckenbauer

Favourite activity in Abu Dhabi: scuba diving in the Northern Emirates 

 

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%3Cp%3E%3Cstrong%3ECreator%3A%20%3C%2Fstrong%3ENetflix%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%20%3C%2Fstrong%3EKris%20Fade%2C%20Ebraheem%20Al%20Samadi%2C%20Zeina%20Khoury%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%202%2F5%3C%2Fp%3E%0A
Dengue%20fever%20symptoms
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Company profile

Name: Dukkantek 

Started: January 2021 

Founders: Sanad Yaghi, Ali Al Sayegh and Shadi Joulani 

Based: UAE 

Number of employees: 140 

Sector: B2B Vertical SaaS(software as a service) 

Investment: $5.2 million 

Funding stage: Seed round 

Investors: Global Founders Capital, Colle Capital Partners, Wamda Capital, Plug and Play, Comma Capital, Nowais Capital, Annex Investments and AMK Investment Office  

If you go

The flights
Etihad (etihad.com) flies from Abu Dhabi to Luang Prabang via Bangkok, with a return flight from Chiang Rai via Bangkok for about Dh3,000, including taxes. Emirates and Thai Airways cover the same route, also via Bangkok in both directions, from about Dh2,700.
The cruise
The Gypsy by Mekong Kingdoms has two cruising options: a three-night, four-day trip upstream cruise or a two-night, three-day downstream journey, from US$5,940 (Dh21,814), including meals, selected drinks, excursions and transfers.
The hotels
Accommodation is available in Luang Prabang at the Avani, from $290 (Dh1,065) per night, and at Anantara Golden Triangle Elephant Camp and Resort from $1,080 (Dh3,967) per night, including meals, an activity and transfers.

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The specs
Engine: 2.0-litre 4-cyl turbo

Power: 201hp at 5,200rpm

Torque: 320Nm at 1,750-4,000rpm

Transmission: 6-speed auto

Fuel consumption: 8.7L/100km

Price: Dh133,900

On sale: now 

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

GRAN%20TURISMO
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Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

Washmen Profile

Date Started: May 2015

Founders: Rami Shaar and Jad Halaoui

Based: Dubai, UAE

Sector: Laundry

Employees: 170

Funding: about $8m

Funders: Addventure, B&Y Partners, Clara Ventures, Cedar Mundi Partners, Henkel Ventures

Updated: June 09, 2023, 12:14 PM