Russell Knox of Scotland hoists the trophy after his two-stroke victory at the WGC-HSBC Champions in Shanghai on Sunday. Scott Halleran / Getty Images / November 8, 2015
Russell Knox of Scotland hoists the trophy after his two-stroke victory at the WGC-HSBC Champions in Shanghai on Sunday. Scott Halleran / Getty Images / November 8, 2015
Russell Knox of Scotland hoists the trophy after his two-stroke victory at the WGC-HSBC Champions in Shanghai on Sunday. Scott Halleran / Getty Images / November 8, 2015
Russell Knox of Scotland hoists the trophy after his two-stroke victory at the WGC-HSBC Champions in Shanghai on Sunday. Scott Halleran / Getty Images / November 8, 2015

Scotland’s Russell Knox lands first WGC title and sets eyes on Ryder Cup


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An emotional Russell Knox said he was “speechless” Sunday after becoming the first player in history to win on his World Golf Championships debut.

“Winning any professional tournament is a massive accomplishment,” Knox told a news conference after his two-stroke victory against a world-class field in the $8.5 million (Dh31.2m) WGC-HSBC Champions in Shanghai, also his maiden victory in a US PGA Tour event.

“You’re never quite sure if you’re ever going to, because there’s so many incredible players. To come and be on top this week is a dream come true, and I still can’t quite believe I’m here.”

His final 4-under 68 gave him a total of 268, 20 under par. Kevin Kisner of the US was second on 270, while English pair Danny Willett and Ross Fisher tied for third a further stroke behind.

It was a week of firsts as Knox became the first Scotsman ever to win one the four big-money WGC events, which rank second only to the majors in prestige.

The victory also came on the America-based 30-year-old’s first trip to Asia following his appearance in the PGA Tour’s CIMB Classic in Malaysia last week, where he tied for 21st place.

“As a kid I don’t know if I ever would have guessed I would have been on the PGA Tour winning a huge tournament like this,” he said.

“I’m speechless. This is going to take a long time to sink in.”

Ten years ago, Knox moved from his native Inverness to college at Jacksonville University, Florida, to pursue his golfing dreams. He paid an emotional tribute to his coach and mentor there Mike Flemming, who died two years ago.

“I thought about him throughout the day to be honest. I thought about him on the 18th when I had to tap in to win, and my eyes started tearing up. I probably will now,” said Knox, his voice cracking.

“I owe him everything. He was my coach for eight years, and he passed away a couple years ago. He’s been my inspiration and he taught me everything I know. It finally paid off.”

With superstars such as Jordan Spieth and Dustin Johnson breathing down his neck Sunday at Sheshan International Golf Club, Knox remained remarkably composed to card six birdies and just two bogeys en route to the $1.4 million winner’s cheque – the biggest pay day of his career by some distance.

“I was quite calm, actually, way more than normal to be honest,” Knox said. “But at the same time, it was the most nerve-racking thing I’ve ever done.

“I tried not to watch Dustin play, especially the front nine, just because we are in two different worlds. He’s hitting it 50, 60 yards past me off the tee.”

The victory propelled Knox to third in the US PGA FedEx Cup standings and almost certainly would have caught the eye of European Ryder Cup captain Darren Clarke.

Knox is not a member of the European Tour and so would be ineligible for next year’s showdown at Hazeltine unless he joins the tour.

“Obviously it’s going to be a goal of mine to make the European Ryder Cup team,” said Knox. “But I have no idea where I stand or what I need to do to make the team. But I look forward to finding out and giving it a run.”

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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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