Pat Cosgrave aboard Naaeebb races to victory at Meydan Racecourse in Dubai on Thursday night. Christopher Pike / The National
Pat Cosgrave aboard Naaeebb races to victory at Meydan Racecourse in Dubai on Thursday night. Christopher Pike / The National
Pat Cosgrave aboard Naaeebb races to victory at Meydan Racecourse in Dubai on Thursday night. Christopher Pike / The National
Pat Cosgrave aboard Naaeebb races to victory at Meydan Racecourse in Dubai on Thursday night. Christopher Pike / The National

Pat Cosgrave guides Godolphin's Naaeebb to victory in Meydan's opener


Amith Passela
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Godolphin trainer Saeed bin Suroor got one on the board when Naaeebb emerged an impressive winner on the opening meeting at Meydan Racecourse on Thursday night.

Drawn wide at Gate 13 in a race comprising 14 horses, the Darley Stud-bred, liver-coloured chestnut by Lonhro, began by running on the outside of the early pace setters before clinching the race by a length-and-a-quarter and beating Conquerant under Adrie de Vries.

Jockey Pat Cosgrave, who completed a double having steered the Helal Al Alawi-trained Rothenburg in the previous race, declared the Godolphin runner a horse for the future.

“I was impressed riding him [for the] first time,” he said. “He’s only a three-year-old and he’ll be a good horse next year.

“He’s got a bit to learn but he did his job nicely at the end.”

Cosgrave had a similar ride aboard Rothenburg in the preceding third race of the seven-race card.

He steamed out of the widest gate – No 14 – to take the other Maiden prize on the card by prevailing over Street Of Dreams by one-and-a-quarter lengths.

The fifth race of the seven-race card was tight keenly contested, with Tadhg O'Shea prevailing atop Trinity Force. Christopher Pike / The National
The fifth race of the seven-race card was tight keenly contested, with Tadhg O'Shea prevailing atop Trinity Force. Christopher Pike / The National

Jockey Tadhg O’Shea guided the Ali Rashid Al Rayhi-trained Trinity Force to a narrow victory over Mizbah to claim the Dh195,000 Handicap, the most valuable prize on offer.

Pat Dobbs, another star jockey in action on Thursday, moved Misbah out of the gates quickly and ran him along the rails. He held on to the lead for almost the entire race, over 2,000 metres, until he was pipped near the post by O’Shea.

UAE champion trainer Doug Watson saddled two winners after Almanaara and Galvanize finished first in the last two races on the card.

Circle Dream under Antonio Fresu clinched the opener, a Maiden run over 1,200m, to give trainer Satish Seemar his first winner of the season.

However, most impressive in the race was Daffg, who came from a long way from the back to take third place under Fernando Jara.

Fresu, who had taken the reins of the Oasis Dream colt in a trial run at Meydan two weeks ago, said he rode a similar race except there was clear improvement from that day.

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Read more

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Bin Suroor looking to chalk up Godolphin's first win of UAE racing season at Meydan

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“He was quick to get out of the gates in the trails but got tired towards the end,” Fresu said. “On this occasion he got out similarly to and set the pace, but stayed well this time until the end.”

Xavier Ziani produced a strong late run on Pit Stop to collar stable companion Pirate’s Cove, the mount of Royston Ffrench, in the last few strides to take the second race.

“I saw him win a race in similar style and rode him the same way,” Ziani said. “However, a furlong from home, I wasn’t sure he would catch Pirate’s Cove.

“Then I saw him slowing down and my horse was full of running towards the end. He likes to be held up and has a good turn of foot.”

How to get there

Emirates (www.emirates.com) flies directly to Hanoi, Vietnam, with fares starting from around Dh2,725 return, while Etihad (www.etihad.com) fares cost about Dh2,213 return with a stop. Chuong is 25 kilometres south of Hanoi.
 

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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