Qatar’s Cabinet has approved a draft law allowing some expatriates to obtain permanent residency. It is the first move of its kind in the GCC. Children of Qatari women married to non-Qataris, as well as expatriates who provide outstanding services to the country will be allowed to obtain permanent residency. If approved, the Interior Minister will be able to grant a permanent residency ID to a non-Qatari if they meet the conditions in the law.
Bahrain’s King Hamad bin Isa Al Khalifa has ratified Bahrain Law No 27/2017 to regulate the Kingdom’s real estate sector. The Real Estate Sector Regulatory Law annuls Bahrain Decree-Law No. 21/1976 which regulates the vocation of property dealership. The provisions which regulate the ownership of apartments and tiers under Articles 814-843 of the Civil Law (Bahrain Decree-Law No. 19/2001). Finally Bahrain Law No. 28/2014 regarding property development has been annulled. The law supersedes any provisions which contradict the provisions of the associated law. The Prime Minister and each of the respective ministers will implement the law which comes into effect on the first day after six months from its publication date in the Official Gazette. The provisions of the first chapter of the law come into effect one month after its publication.
This week the spotlight is on the issuing of the new Tax Procedures Law in the UAE. Under Federal Law No. 7/2017 (which has not yet been Gazetted), the foundations for the tax system are laid out whilst the administration and collection of taxes processes are stipulated and the role of the Federal Tax Authority is defined. It also defines a clear set of common procedures and rules to be applied to all tax laws in the UAE, particularly VAT and excise tax laws. The law covers tax procedures, audits, objections, refunds, collection and obligations, including tax registration, tax-return preparation, submissions, payment and voluntary disclosure rules as well as tax evasion. It also lays out the penalties for non-compliance as well as clear appeal processes in line with international best practices. When it comes into force businesses will have to keep records for five years.
An unofficial translation of the Law can be accessed here: https://www.mof.gov.ae/en/lawsAndPolitics/govLaws/Pages/TAX.aspx. We are monitoring the legislative progress of this important development with our publishing Partners, SADER Legal Publishing and will provide updates as and when appropriate.