Some call Old Trafford in Manchester, England, the Theatre Of Dreams, but it is under the wings of Meydan Racecourse during the Dubai World Cup Carnival, which starts on Thursday, that fledgling hopes can become reality.
Only millionaires take part in Premier League football, but racing is a sport in which anybody can secure a slice of the US$37 million (Dh135.8m) in prize money on offer over the 11 fixtures that culminate in the Dubai World Cup meeting on March 29.
When Carl O’Callaghan, a former destitute and homeless man, danced a jig having trained Kinsale King to win the $2 million Dubai Golden Shaheen on the first World Cup night at Meydan in 2010, the racecourse’s status as a forge that fashioned hope into triumph was assured.
Sheikh Mohammed bin Rashid, Vice President of the UAE and Ruler of Dubai, may dominate proceedings through Godolphin, his international stable that won almost half the races run at the UAE’s flagship course last season.
It is his racecourse, after all, but even with Mike De Kock, the leading international trainer, set to field his largest string ever at 45 runners, there are still opportunities to hoover up the generous and lucrative crumbs much as O’Callaghan did.
From afar, it may not seem the case. My Propeller, a horse owned by Joey Barton, the Queens Park Rangers footballer, is engaged at Meydan on Thursday, while fellow former England international Michael Owen has entered Brown Panther to race in Dubai this season.
These are not your everyday owners. Scratch the surface, however, and there are people on a smaller budget fantasising about being competitive this winter.
Women may not feature heavily among the roster of trainers successful in the UAE, but in France’s Pia Brandt and Irish pair Tracy Collins and Sarah Dawson, there is a trio who aspire to make a big impression over the next few weeks.
Dawson has not had a runner outside of Britain or her Northern Irish base, but she intends to launch her first international raid in the next few weeks with Abstraction, a 1,000-metre turf sprinter bought for €6,000 (Dh30,070) at a sale in Ireland by an Italian student.
Dawson has had a trainer’s licence for three seasons, and it is plain to see that the odds are considerably stacked against her. It is a challenge she welcomes and, in this more enlightened age, Dawson resists any offers to highlight the marginalised role of women in sport.
“Training is a labour of love for me and I’m not here to make any statement at all,” Dawson said. “We’re in Dubai to have a crack at anything and everything. Ultimately, we hope Abstraction qualifies for World Cup night and makes an impression along the way.”
The international flat season starts in Dubai, and with the L’Ormarins Queen’s Plate set to kick off the Breeders’ Cup Challenge Series at Kenilworth in Cape Town on Saturday, it is time to welcome the return of top-level action.
So, UAE fans can revel during the next 10 weeks at the feats of some of the best jockeys in the world, riding some of the best horses in the world at Meydan, and remember that everybody above and below the turf are equal.
sports@thenational.ae
The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
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
SPECS
Engine: Two-litre four-cylinder turbo
Power: 235hp
Torque: 350Nm
Transmission: Nine-speed automatic
Price: From Dh167,500 ($45,000)
On sale: Now
