• Tennis - 6 Kings Slam - Riyadh, Saudi Arabia - October 19, 2024 Serbia's Novak Djokovic and Spain's Rafael Nadal pose after their third place match REUTERS / Hamad I Mohammed
    Tennis - 6 Kings Slam - Riyadh, Saudi Arabia - October 19, 2024 Serbia's Novak Djokovic and Spain's Rafael Nadal pose after their third place match REUTERS / Hamad I Mohammed
  • Rafael Nadal salutes the crowd. EPA
    Rafael Nadal salutes the crowd. EPA
  • Spain's Rafael Nadal hits a return to Serbia's Novak Djokovic. AFP
    Spain's Rafael Nadal hits a return to Serbia's Novak Djokovic. AFP
  • Novak Djokovic in action in Riyadh. EPA
    Novak Djokovic in action in Riyadh. EPA
  • Rafel Nadal reacts after his match against Novak Djokovic. EPA
    Rafel Nadal reacts after his match against Novak Djokovic. EPA
  • Rafael Nadal in action. EPA
    Rafael Nadal in action. EPA
  • Novak Djokovic of Serbia applauds after beating Nadal. Getty Images
    Novak Djokovic of Serbia applauds after beating Nadal. Getty Images
  • Chairman of the General Entertainment Authority, Turki Alalshikh, right, conducts the presentation. Reuters
    Chairman of the General Entertainment Authority, Turki Alalshikh, right, conducts the presentation. Reuters

Novak Djokovic finishes ‘amazing rivalry’ with Rafael Nadal after win in Riyadh


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Novak Djokovic claimed a final win over Rafael Nadal as the two brought an end to one of sport's great rivalries at the Six Kings Slam exhibition in Riyadh on Saturday night.

The two tennis legends contested a record 60 competitive clashes during their careers, with Djokovic leading 31-29, but there will be no more after Nadal announced last week he will retire following the Davis Cup Finals in Malaga next month.

Whether he will play singles there remains to be seen, so this 6-2, 7-6 defeat may have been a final individual outing for the 38-year-old.

There were some classic Nadal moments, including several crowd-pleasing forehands down the line, and the Spaniard had a big smile on his face at the end.

Speaking on court to Djokovic, he said: “It has been an amazing rivalry. In a personal way I have to say that you helped me to go over my limits during almost 15 years. So thank you for that because without that probably I will not be the player that I am today.

“It has been a dream come true to be able to play for almost 20 years being competitive and having the chance to play in the best places in the world.”

Djokovic said: “I have the utmost respect for you: incredible athlete, incredible person.

“The rivalry has been incredible and has been very intense, so I hope that we’ll have a chance to maybe sit on the beach somewhere and maybe have a little drink and reflect on life, talking about something else.

“I will finish with one big thank you, from not just me, but all of the tennis world for what you have done. You left an incredible legacy and we really appreciate it.

“Don’t leave tennis man, stay a little bit longer, stay with us.”

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

Cricket World Cup League Two

Oman, UAE, Namibia

Al Amerat, Muscat

 

Results

Oman beat UAE by five wickets

UAE beat Namibia by eight runs

 

Fixtures

Wednesday January 8 –Oman v Namibia

Thursday January 9 – Oman v UAE

Saturday January 11 – UAE v Namibia

Sunday January 12 – Oman v Namibia

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The National's picks

4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young

Updated: October 19, 2024, 7:47 PM