Simpson colt back on his home turf


Amith Passela
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ABU DHABI // Rod Simpson, the UAE's leading trainer for Purebred Arabians, has strong claims in the featured Sheikh Mansour bin Zayed Festival Zayed the First Arabian Cup with Jazeerat Alsadyaat in tonight's opening meeting in the capital. The Darike colt did not live up to his handler's expectations on his trip to England during the summer, unplaced at both Newbury and Ascot in Group 2 and Group 1 races. "He didn't acclimatise to those conditions and will be better at home in the sunshine," said Simpson.

"We'll try him with visors in this race. He has beaten most of the entries in this field and I don't see why he can't to do it again." Simpson is double handed with Jazeerat Alsadyaat, who will be ridden by the apprentice Charles Eddery, a nephew of the former British champion jockey Pat Eddery, and Le Gusta Baila, a winner of two races, ridden by the American Paul Devlin. The Gillian Duffield-trained Royal Class in the silks of Sheikh Hamdan bin Rashid, is returning to a distance he has won over on this course, and will pose the greatest threat. However, the Kesberoy colt finished behind Jazeerat Alsadyaat in two starts over the 2,200 metres distance.

The opening two races will see first-time runners, and Simpson fancies Jowharat Al Asayl in the 5pm opener. He is also going for Mujtahid in the third race, a 0-60 handicap. "She [Jowharat Al Asayl] is a nice filly and should go well," he said. "Mujtahid is an interesting horse. He is top weight because he's the best in the field. He has improved over the summer and should run a good first race."

Rafed carries the hopes of the trainer Eric Lemartinel. The six-year-old by Tahar De Candelon, a winner over the course and distance, poses the main challenge to Mujtahid, along with Musabah al Muhairi's AF Qa'ed. "Rafed has run in stronger company and he is in good shape for his first race of the season," said Lemartinel. The Frenchman expects the newcomers Sharkasi and Naseem Al Reef to run well in the second race and Shaymaa to break her duck an hour later.

Mutanaseb looks the pick in the final race for the thoroughbreds. The return to the turf will suit the six-year-old gelded son of Mr Greeley, with Ibn Batutta and Simpson's Desert Streak the threats. @Email:apassela@thenational.ae

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

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Position: Senior lab superintendent at Emirates Global Aluminium

Education: Bachelor of science in chemical engineering, post graduate degree in light metal reduction technology

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