Dubai Duty Free officials announce the latest winners from the draws.
Dubai Duty Free officials announce the latest winners from the draws.
Dubai Duty Free officials announce the latest winners from the draws.
Dubai Duty Free officials announce the latest winners from the draws.

Three-time lucky lottery winner lands $1m in Dubai Duty Free draw


Kelly Clarke
  • English
  • Arabic

A Dubai resident has scooped $1 million for the second time in three years after entering the Dubai Duty Free Millennium Millionaire draw.

Sree Sreedharan, 55, won his first million in 2019 and couldn’t believe his luck on Wednesday when he received a call saying he had bagged the cash prize for a second time.

The retired engineer, who now trades foreign exchange online, bought ticket number 1938 online last month.

Mr Sreedharan is the eighth person to win the prize twice since it was launched in 1999.

I bought three tickets for this draw which cost Dh3,150 in total, so I would say it was a great return on investment
Sree Sreedharan,
two-time millionaire

“I bought three tickets for this draw, which cost Dh3,150 in total, so I would say it was a great return on investment,” Mr Sreedharan said.

“I was in a meeting when the call came through and of course I was very happy, but I didn't share the news with colleagues.

“I’m a very humble, very simple man. I will use the money to invest in more online trading.”

The father of one, who has lived in the UAE for 30 years, is no stranger to good luck. He also won a Range Rover HSE in the Dubai Duty Free Finest Surprise series in 2020.

Dubai Duty Free rehires workers - in pictures

  • Dubai Duty Free will rehire almost 700 workers who were laid off during the pandemic. Photo: Emirates Airline
    Dubai Duty Free will rehire almost 700 workers who were laid off during the pandemic. Photo: Emirates Airline
  • The move comes after passenger numbers picked up at airports in Dubai. Sarah Dea / The National
    The move comes after passenger numbers picked up at airports in Dubai. Sarah Dea / The National
  • Tang boxes at the Dubai Duty Free warehouse near the airport. Pawan Singh / The National
    Tang boxes at the Dubai Duty Free warehouse near the airport. Pawan Singh / The National
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    Dubai's airport operator forecasts 57 million passengers in 2022, and 28.7 million this year. Photo: Emirates Airline
  • Paul Griffiths, chief executive of Dubai Airports, said the travel hub handled about 20 per cent more passenger traffic in the third quarter of 2021 than in the same period of last year. AP
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  • Dubai International Airport will reopen Concourse A on November 24, bringing it to full capacity after 20 months of reduced operations due to the Covid-19 pandemic.
    Dubai International Airport will reopen Concourse A on November 24, bringing it to full capacity after 20 months of reduced operations due to the Covid-19 pandemic.

Asked if he counts himself as a lucky man, he said: “Maybe people say lucky but I invest a lot.

“I have been buying tickets for the [millionaire] draw for years. Sometimes I even buy 10 tickets at a time, so I put a lot into it. Even now I have won twice I will keep entering the draw.

“I haven’t told my son that I have won again because he will think he doesn’t need to study. I still want him to work hard and I don’t plan on telling him but he may see it in the news.”

Mr Sreedharan, from Kerala in India, is the 188th Indian national to have won $1 million since the start of the Millennium Millionaire promotion. Residents from India make up the largest group of those buying tickets.

Two other lucky winners also walked away with luxury vehicles in the Finest Surprise draw.

Emirati Rashid Al Mutawaa, 41, won a BMW M Sport, and Indian national Purushothaman Pachairaj, 61, won a BMW motorbike.

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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 

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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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Launched: 2018

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Financing stage: Seed round ($12 million)

Investors: B&Y, Phoenician Funds, M1 Group, Shorooq Partners

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LA LIGA: Sporting Gijon, 13 points in 1997-98.

BUNDESLIGA: Tasmania Berlin, 10 points in 1965-66

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Co-founders of the company: Vilhelm Hedberg and Ravi Bhusari

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Fuel consumption: 8.5L/100km

Price: from Dh285,000

On sale: from January 2022 

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Updated: May 11, 2022, 12:56 PM