Humaid Al Masaood can look forward to the next round of the American Le Mans Series (ALMS) with his confidence sky high after becoming the first Emirati to take part in top-flight sports car racing and earning a podium finish.
Al Masaood and Stephen Kane, his British teammate, finished third in Saturday’s race at the American Le Mans Northeast Grand Prix at Lime Rock Park, Connecticut in their Mazda Lola Coupe, which is run by ALMS teams points leader, Dyson Racing, in conjunction with the Oryx Racing team that Al Masaood owns.
The Emirati now hopes that competing in the top echelon of motorsport will help encourage others to follow in his path along with the increasing track options in the UAE, led by Yas Marina Circuit, the home of the Formula One Etihad Airways Abu Dhabi Grand Prix.
“I hope that what I am doing can show other people in the UAE and in the region that we can compete at this level,” Al Masaood said yesterday.
“The UAE is improving in the facilities that people have in which to try racing. Yas Island is a fantastic facility and we are lucky to have it on our doorstep. In the United States people sometimes have to go three, four or five hours to get to their nearest track.”
Al Masaood and Kane are using the rest of the ALMS season as a learning curve for competing in a full championship schedule in the future, and the Abu Dhabi-based racer said he was thrilled to get a podium finish in their first start.
“It was fantastic and a really unbelievable feeling,” he said of climbing on the podium. “We had hoped to just bring the car home and to not only do that but get third place is fantastic.”
The result was impressive as an electrical problem had forced them to start from last place in the pit lane, after they had qualified in second place on the grid.
But Al Masaood overtook a number of cars during his stint in the race, which lasted two hours 45 minutes, moving up to seventh spot before he handed over to Kane, who brought the car home in third.
Al Masaood is hopeful more is to come from his partnership with Kane. “This was our first time setting up the car ourselves and to be very close to the pace, if not matching it, in our first race is very encouraging,” he said.
“I’d hope in the coming races we can build on this and score more podiums, challenge for pole positions and also get a couple of race wins.”
Every track in the North American series is new for Al Masaood, but a race he is looking forward to is the street race in Baltimore in September.
“I have never done a street race before and the race in Baltimore is on a street track, so that will be an experience,” he said.
“This is the first time this event will have been held so it will be a new experience for everyone and that should make it interesting.” The fourth round of the series is at the Mosport International Raceway in Ontario, Canada, on July 24.
* Compiled with agencies
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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
The biog
Age: 32
Qualifications: Diploma in engineering from TSI Technical Institute, bachelor’s degree in accounting from Dubai’s Al Ghurair University, master’s degree in human resources from Abu Dhabi University, currently third years PHD in strategy of human resources.
Favourite mountain range: The Himalayas
Favourite experience: Two months trekking in Alaska
Women & Power: A Manifesto
Mary Beard
Profile Books and London Review of Books
The biog
Name: Greg Heinricks
From: Alberta, western Canada
Record fish: 56kg sailfish
Member of: International Game Fish Association
Company: Arabian Divers and Sportfishing Charters
The specs: 2018 Nissan 370Z Nismo
The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
Fuel consumption, combined: 10.5L / 100km
