Frankie Dettori riding Palace Pier at Sandown Park Racecourse on August 11, 2021. PA
Frankie Dettori riding Palace Pier at Sandown Park Racecourse on August 11, 2021. PA
Frankie Dettori riding Palace Pier at Sandown Park Racecourse on August 11, 2021. PA
Frankie Dettori riding Palace Pier at Sandown Park Racecourse on August 11, 2021. PA

Sheikh Hamdan's Palace Pier clinches victory at Prix Jacques le Marois


Amith Passela
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Palace Pier carried the colours of Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, to victory at the Group 1 Prix Jacques le Marois and joined a select group of equine stars to clinch the prize two years in a row.

The four-year-old son of Kingman, under Frankie Dettori, edged out the 2000 Guineas and St James’s Palace Stakes winner Poetic Flare by a neck at the Deauville racecourse on Sunday.

The Breeders' Cup mile winner Order Of Australia and Godolphin’s Midtown finished third and fourth respectively.

Palace Pier joined Spinning World and Miesque in winning the prestigious mile contest for a second time in a row.

Palace Pier, jointly trained by John and his son Thady Gosden, kicked off his 2021 campaign by taking a Group 2 prize at Sandown followed by the Group 1s, the Lockinge at Newbury and Queen Anne Stakes at Ascot.

“I've made no secret of the fact I lost a lot of time with him and that he had a blood disorder,” Gosden said.

“I'll be absolutely frank with you, we've come here on the bare minimum of work, but his class got him through.

“He's blowing hard, but if you don't come for the Jacques le Marois it's a rather pointless year, we always wanted to come back here.

“I ran him on 80 per cent fitness; he's got the class and the jockey. It's full marks for him, he was definitely tiring in the last few strides, that's because he was ill and missed a lot of time. It was a superb race full of fabulous horses; the second horse is made of iron."

Dettori celebrated a sixth success in the Jacques le Marois, and the veteran jockey paid tribute to the winning horse.

“He's the best miler I've rode, he's beautiful and got everything. I love him so much, he's a joy to ride and be around,” he said.

Some of Darwish's last words

"They see their tomorrows slipping out of their reach. And though it seems to them that everything outside this reality is heaven, yet they do not want to go to that heaven. They stay, because they are afflicted with hope." - Mahmoud Darwish, to attendees of the Palestine Festival of Literature, 2008

His life in brief: Born in a village near Galilee, he lived in exile for most of his life and started writing poetry after high school. He was arrested several times by Israel for what were deemed to be inciteful poems. Most of his work focused on the love and yearning for his homeland, and he was regarded the Palestinian poet of resistance. Over the course of his life, he published more than 30 poetry collections and books of prose, with his work translated into more than 20 languages. Many of his poems were set to music by Arab composers, most significantly Marcel Khalife. Darwish died on August 9, 2008 after undergoing heart surgery in the United States. He was later buried in Ramallah where a shrine was erected in his honour.

Dhadak 2

Director: Shazia Iqbal

Starring: Siddhant Chaturvedi, Triptii Dimri 

Rating: 1/5

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Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

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

Updated: August 15, 2021, 4:40 PM