Australian golf fans will get a chance to see Open champion Cameron Smith when LIV Golf Series comes to Adelaide in 2023. AFP
Australian golf fans will get a chance to see Open champion Cameron Smith when LIV Golf Series comes to Adelaide in 2023. AFP
Australian golf fans will get a chance to see Open champion Cameron Smith when LIV Golf Series comes to Adelaide in 2023. AFP
Australian golf fans will get a chance to see Open champion Cameron Smith when LIV Golf Series comes to Adelaide in 2023. AFP

Australia to host LIV Golf event next April in Adelaide


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LIV Golf announced on Sunday a multi-year commitment to bring league events to Australia starting next April at The Grange Golf Club in Adelaide.

The April 21-23 tournament at The Grange will be one of 14 events on LIV Golf League's 2023 schedule and will give fans a chance to see reigning Open champion Cameron Smith and fellow Australians Marc Leishman and Matt Jones in action.

"This is an opportunity to grow the game with generations of Australians while connecting them with star players like Cameron Smith," LIV Golf CEO Greg Norman said in a news release.

"There is massive potential for Australia to play a bigger role in this great sport, and I couldn't be more excited to showcase Adelaide for our league's debut year."

The Grange was the site of former world No 1 Norman's first professional victory in 1976 and, among other events, hosted the Women's Australian Open in 2019 and 2016.

Consistent with the 2022 LIV Golf Invitational Series, which launched in June, LIV Golf League will feature simultaneous team and individual play, with golfers competing for an unprecedented $405 million in prize purses.

The full 2023 league schedule, to be released in coming weeks, will run from February to September and will not compete with golf's four majors, international team events or heritage events.

The Saudi Arabia-backed LIV Golf series has lured players with the promise of guaranteed, big-money paydays and a reduced schedule, while the US-based PGA Tour has suspended members who opted to join the rival circuit.

Among the more high-profile players to join LIV are World Golf Hall of Fame member Phil Mickelson, twice major champion Dustin Johnson and 2020 US Open winner Bryson DeChambeau.

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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Marathon results

Men:

 1. Titus Ekiru(KEN) 2:06:13 

2. Alphonce Simbu(TAN) 2:07:50 

3. Reuben Kipyego(KEN) 2:08:25 

4. Abel Kirui(KEN) 2:08:46 

5. Felix Kemutai(KEN) 2:10:48  

Women:

1. Judith Korir(KEN) 2:22:30 

2. Eunice Chumba(BHR) 2:26:01 

3. Immaculate Chemutai(UGA) 2:28:30 

4. Abebech Bekele(ETH) 2:29:43 

5. Aleksandra Morozova(RUS) 2:33:01  

While you're here
Squid Game season two

Director: Hwang Dong-hyuk 

Stars:  Lee Jung-jae, Wi Ha-joon and Lee Byung-hun

Rating: 4.5/5

Updated: June 09, 2023, 11:04 AM