London // Pat Cosgrave has not ruled out a return to Dubai as he gears up for his first ride in the Derby on Saturday aboard Storm The Stars.
Trainer William Haggas and owner Sheikh Juma bin Dalmook have made the decision to keep Cosgrave’s services after he guided the son of 2009 Derby winner Sea The Stars to victory in the Listed Cocked Hat Stakes at Goodwood last month.
Cosgrave was banned from competing in the UAE for six months for improper riding during the Super Saturday event at Meydan Racecourse in March last year, a ban that has continued due to his refusal to pay the Emirates Racing Authority (ERA) charges of Dh200,000.
Read more:
– Pat Cosgrave’s racing ban reduced to four months
– Pat Cosgrave cleared to ride in UK during his appeal to the BHA
It is a sum that comprised half the appeal hearing, transcription fees plus the fees of the ERA’s appeal panel members.
Cosgrave has ridden 40 winners in Britain this season for a share of £236,119 (Dh1.3m) total prize money, and with the Derby carrying a purse of £1.3m his fine could look like small change should Storm The Stars prevail at Epsom.
“It is a big race and it is worth a lot of money,” Cosgrave said. “I did miss Dubai this year. If I carry on having a good season my financial situation will be much better. I just never thought it was appropriate to have to pay the money to go back to Meydan.
“You should never take anything for granted. Racing is a crazy, mad, but brilliant game. It can lift you, and bring you back down to earth. You’ve got to take racing day by day. You never know what happens between now and the start of the Dubai season.”
Cosgrave has not ridden in a major European Derby since he was working for Aidan O’Brien as a 22-year-old jockey. He partnered Book Of Kings to sixth place behind Grey Swallow in the Irish Derby, having had his first ride the previous year when Handel was down the field.
The ride on Storm The Stars caps what has been a winter of hard work for the Irish jockey, who broke his leg on March 18, a year to the day he received his suspension for the ride on Anaerobio in the Jebel Hatta.
Just under six weeks later he was back in the saddle. He has been riding out at Haggas’s Newmarket yard since February, dropping in occasionally on Mike de Kock’s base in town, and rides out for Meydan regular George Baker once a week.
“How things have changed,” he said. “Sometimes things happen for a reason. I kept riding through the winter on the all-weather and had ridden something like 20 winners before I broke my leg.
“I did not take it very well. I couldn’t believe it. Next year on March 18th, I think I’ll stay in bed!
“This time last year if you had told me I would have broken my leg, ridden 40 winners by June and had been given my first ride in the Derby I would have said you were mad.”
Sheikh Hamdan bin Rashid’s Derby hopeful Zawraq faces a race against time to be fit for the Classic. Trained in Ireland by Dermot Weld, the Shadwell homebred was found to be lame on Tuesday following a piece of work.
He engaged in light exercise yesterday when it was estimated by his work rider, Leigh Roche, that he was at least 80 per cent better and underwent a scan in the afternoon.
“He’ll have a good canter tomorrow morning with Pat Smullen aboard and how he comes out of that will obviously be crucial,” Angus Gold, Sheikh Hamdan’s racing manager, said.
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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
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Results
5pm: Maiden (PA) Dh80,000 (Turf) 2,200m; Winner: Gurm, Antonio Fresu (jockey), Eric Lemartinel (trainer)
5.30pm: Handicap (PA) Dh80,000 (T) 1,600m; Winner: Al Nafece, Al Muatasm Al Balushi, Mohammed Ramadan
6pm: Wathba Stallions Cup Handicap (PA) Dh70,000 (T) 1,200m; Winner: Ashton Tourettes, Adrie de Vries, Ibrahim Aseel
6.30pm: Arabian Triple Crown – Group 3 (PA) Dh300,000 (T) 2,200m; Winner: Ottoman, Adrie de Vries, Abdallah Al Hammadi
7pm: Liwa Oasis – Group 2 (PA) 300,000 (T) 1,400m; Winner: Hakeemat Muscat, Szczepan Mazur, Ibrahim Al Hadhrami
7.30pm: Handicap (TB) Dh80,000 (T) 1,600m; Winner: Ganbaru, Antonio Fresu, Musabah Al Muhairi