The Dubai World Cup meeting is not only the climax of the UAE’s racing season but will draw a global audience when its 28th edition gets under way at Meydan on March 30.
There is a total prize fund of $30.5 million for the nine-race card, the highlight of which is the $12 million Dubai World Cup itself, a Group 1 race run over the 2,000-metre distance on dirt.
Here is everything you need to know about the 2024 event.
When is it?
The 2024 Dubai World Cup will take place on Saturday, March 30.
Where is it?
The races are held at Meydan Racecourse in Dubai.
What time does it start?
The first race is scheduled to begin at 3.30pm.
Are tickets still available?
General Admission tickets offer rail-side views at just Dh20, while Apron Views tickets provide access to the heart of the social scene for Dh295. For more information and booking, visit the official website.
What races make up the Dubai World Cup?
There are nine races in total at the Dubai World Cup:
Group 1 Dubai Kahayla Classic for the Purebred Arabians ($1 million)
Group 2 Godolphin Mile ($1 million)
Group 2 Dubai Gold Cup ($1 million)
Group 1 Al Quoz Sprint ($1.5 million)
Group 2 UAE Derby ($1 million)
Group 1 Dubai Golden Shaheen ($2 million)
Group 1 Dubai Turf ($5 million)
Dubai Sheema Classic ($6 million)
Dubai World Cup ($12 million)
Which horses are racing at the Dubai World Cup?
The Dubai World Cup has drawn a quality field that includes last year’s winner Ushba Tesoro, the $20 million Saudi Cup winner Senor Buscado, Newgate (winner of the Grade 1 Santa Anita Handicap), Derma Sotogake (the Grade 1 Breeders’ Cup Classic runner-up at Santa Anita), and the locally-trained Kabirkhan and Laurel River, both impressive winners in their last starts at Meydan.
What happened last year?
Ushba Tesoro under Yuga Kawada bagged the Dubai World Cup, only the second horse to achieve that feat for Japan after Victoire Pisa, ridden by Mirco Demuro, won the coveted prize in 2011.
Ushba Tesoro is back to defend his crown and will be bidding to become the second horse to win the Dubai World Cup twice in a row after Godolphin trainer Saeed bin Suroor’s Thunder Snow became the first to achieve that feat in 2018 and 2019.
List of past winners
1996: Cigar, 1997: Singspiel, 1998: Silver Charm, 1999: Almutawakel, 2000: Dubai Millennium, 2001: Captain Steve, 2002: Street Cry, 2003: Moon Ballad, 2004: Pleasantly Perfect, 2005: Roses In May, 2006: Electrocutionist, 2007: Invasor, 2008: Curlin, 2009: Well Armed, 2010: Gloria de Campeao, 2011: Victoire Pisa, 2012: Monterosso, 2013: Animal Kingdom, 2014: African Story, 2015: Prince Bishop, 2016: California Chrome, 2017: Arrogate, 2018: Thunder Snow, 2019: Thunder Snow, 2020: Cancelled – Covid, 2021: Mystic Guide, 2022: Country Grammer, 2023: Ushba Tesoro
Style Stakes
Aside from the action on the track, there is more than Dh200,000 to be won in the Dubai World Cup Style Stakes, which includes prizes for the Best Dressed Lady, Best Dressed Man, Best Dressed Couple, Best Hat and Best Traditional Outfit competitions.
if you go
The flights
Etihad, Emirates and Singapore Airlines fly direct from the UAE to Singapore from Dh2,265 return including taxes. The flight takes about 7 hours.
The hotel
Rooms at the M Social Singapore cost from SG $179 (Dh488) per night including taxes.
The tour
Makan Makan Walking group tours costs from SG $90 (Dh245) per person for about three hours. Tailor-made tours can be arranged. For details go to www.woknstroll.com.sg
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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Martin Sabbagh profile
Job: CEO JCDecaux Middle East
In the role: Since January 2015
Lives: In the UAE
Background: M&A, investment banking
Studied: Corporate finance
THREE
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- Third Test: The Oval, London, July 27-31, 2pm
- Fourth Test: Old Trafford, Manchester, August 4-8
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