The Formula Rossa should be working again next week, with the two other rides to follow soon after.
The Formula Rossa should be working again next week, with the two other rides to follow soon after.
The Formula Rossa should be working again next week, with the two other rides to follow soon after.
The Formula Rossa should be working again next week, with the two other rides to follow soon after.

Ferrari World closes three major attractions for maintenance


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ABU DHABI // Ferrari World has closed three of its premier attractions for "routine maintenance and upgrades".

The Formula Rossa, the world's fastest roller coaster, the G-Force, which catapults riders 62 metres into the air, and the Speed of Magic, a family fantasy ride, were shut down last week.

Claus Frimand, the indoor theme park's general manager, said ticket sales were not affected by the maintenance period.

The Formula Rossa should be working again next week, with the two other rides to follow soon after.

To keep the public informed about the closures, Ferrari World is providing daily updates on its website and informing guests about the unavailability of certain rides when they arrive at the ticket office.

"Guests who are coming to the park appreciate the fact that they are fully informed before purchasing a ticket," Mr Frimand said.

"We strive to deliver an outstanding experience and we are providing numerous added benefits during this short maintenance period."

While the rides are offline, the park is upgrading the 3D screens at the Speed of Magic and fine-tuning technical elements on the Formula Rossa, a move that should reduce waiting times for visitors.

"The rides will return to full operation once the work has been completed," Mr Frimand said. He added that the temporary downtime would "improve the value of the show".

Hundreds of thousands of tourists have visited the park since it opened last November.

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

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10. Substance and CbC reporting focus

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Contributed by Thomas Vanhee and Hend Rashwan, Aurifer