The Big Ticket offers a Dh1 million top prize each week, in addition to a monthly Dh20m jackpot. Photo: Big Ticket
The Big Ticket offers a Dh1 million top prize each week, in addition to a monthly Dh20m jackpot. Photo: Big Ticket
The Big Ticket offers a Dh1 million top prize each week, in addition to a monthly Dh20m jackpot. Photo: Big Ticket
The Big Ticket offers a Dh1 million top prize each week, in addition to a monthly Dh20m jackpot. Photo: Big Ticket

Big Ticket winner: Ras Al Khaimah resident and 18 friends share Dh1 million lotto jackpot


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A delighted Bangladeshi resident who scooped a Dh1 million UAE lotto jackpot along with 18 friends is planning to buy a new family home with his share of the end-of-year windfall.

Mohammed Meah, who lives in Ras Al Khaimah and works as a personal driver, and his fellow winners struck it lucky after playing the Big Ticket draw for one year.

The group bought four tickets for Monday's weekly draw, with Mohammed, 56, picking out the winning numbers.

The 19-strong syndicate will collect about Dh52,600 each.

"We are a group of 19 people, we have been buying the Big Ticket every month for one year now," Mr Meah said.

Mohammed Meah will support his family with his share of the Dh1 million Big Ticket jackpot. Photo: Big Ticket
Mohammed Meah will support his family with his share of the Dh1 million Big Ticket jackpot. Photo: Big Ticket

"This is the third time for me to buy a ticket under my name. We bought four tickets with the special buy two, get two free offer.

"I selected two tickets, and my friends selected the other two. The winning ticket was chosen by me. I am very happy for our win.

"I will share my prize with my friends, and with my cash portion, I might buy a new house in Bangladesh for my children."

The Big Ticket draw offers contestants the opportunity to win Dh1 million each week, in addition to the monthly jackpot prize of up to Dh20 million.

The next weekly draw will be held on December 25, offering the prospect of a memorable Christmas Day gift.

The next monthly raffle will take place on December 31.

The Big Ticket was established in 1992 and has made numerous new millionaires over the years.

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THE BIO

Ms Davison came to Dubai from Kerala after her marriage in 1996 when she was 21-years-old

Since 2001, Ms Davison has worked at many affordable schools such as Our Own English High School in Sharjah, and The Apple International School and Amled School in Dubai

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Favourite cuisine: Italian food

Favourite Movie : Scent of a Woman

 

 

The specs

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Power: 712hp at 6,100rpm

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Should late investors consider cryptocurrencies?

Wealth managers recommend late investors to have a balanced portfolio that typically includes traditional assets such as cash, government and corporate bonds, equities, commodities and commercial property.

They do not usually recommend investing in Bitcoin or other cryptocurrencies due to the risk and volatility associated with them.

“It has produced eye-watering returns for some, whereas others have lost substantially as this has all depended purely on timing and when the buy-in was. If someone still has about 20 to 25 years until retirement, there isn’t any need to take such risks,” Rupert Connor of Abacus Financial Consultant says.

He adds that if a person is interested in owning a business or growing a property portfolio to increase their retirement income, this can be encouraged provided they keep in mind the overall risk profile of these assets.

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Countdown to Zero: Defeating Disease, an international multimedia exhibition created by the American Museum of National History in collaboration with The Carter Center, will open in Abu Dhabi a  month before Reaching the Last Mile.

Opening on October 15 and running until November 15, the free exhibition opens at The Galleria mall on Al Maryah Island, and has already been seen at the Jimmy Carter Presidential Library and Museum in Atlanta, the American Museum of Natural History in New York, and the London School of Hygiene and Tropical Medicine.

 

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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Updated: December 20, 2023, 3:18 PM