Oman’s Shoura Council is considering a new social media law. The head of the Council’s Media and Culture Committee said the law will not limit freedom of speech. They added the aim is to protect individuals, institutions or the country from rumours about them on social media. As part of this, where rumours are posted, the affected entity will be able to lodge complaints directly against them.
The Chairperson of Egypt’s Micro, Small, and Medium Enterprises Development Agency has announced the Cabinet is finalising the draft SME law. Once they have approved the draft law, it will be submitted to the House of Representatives to consider. It is expected to be submitted within ten days and amongst other things will allow these entities to obtain financing which is not allowed under the existing Egypt Law No. 141/2004.
Oman Official Gazette, issue 1281 has included Oman Sultani Decree No. 18/2019 and at the same time some of the company law changes have become clearer. According to legal experts, Oman Sultani Decree No. 18/2019 has amended the company ownership rules for small firms. It also replaces individual institutions with sole proprietorships who will be regulated differently. Previously companies in the Sultanate could only be established with two proprietors.
Other changes include facilitating the process for companies to turn into SAOGs without the need to have a capital of 2,000,000 Riyals. In addition, these companies will now be regulated by the Capital Market Authority. It will also be easier for companies to merge and there are measures to help struggling companies, so they don’t have to declare bankruptcy. There are various guarantees including a public mandate for insurance to ensure bankrupt companies are insured. Voluntary liquidation must also be completed within three years now and judges can oversee liquidations.
Elsewhere the Government is considering a new Foreign Investment Law. If it is approved, it will allow foreign companies or individuals to increase their ownership in local companies to up to 100%. Currently foreign companies must have a local partner to do business in the Sultanate. The local partner must own 33% of the company. Additional restrictions on foreign entities having property assets or minimum capital requirements could also be introduced. Disputes will also be able to be settled by international arbitration.
Jordan’s Lower House has rejected the amended cybercrimes law. The law was redrafted by the Government in December 2018 to try and address criticism of it, particularly in relation to the definition of hate speech. The definition was amended to ‘every writing and every speech or action intended to provoke sectarian or racial sedition, advocate violence or foster conflict between followers of different religions and various components of the nation’.
Egypt’s President has issued Egypt Law No. 175/2018 on cybercrimes which will recognise electronic evidence in trials. It has been published in the Official Gazette. The law criminalises the improper use of data, information and information systems and attacks on emails, accounts, websites, networks, state information systems. It applies to import, export or circulation of any designed, developed or modified equipment, tools, software, codes or similar data without the authorisation of the National Telecom Regulatory Authority. Relevant crimes include creating websites, special and email accounts, falsifying private or legal persons and abuses of privacy, whether by sending spam or transferring personal data without consent, whether true or falsified, or publishing pictures or the like.
The UAE’s Federal National Council has approved a draft federal law regulating the practicing of medical professions. It will apply to all those who practice or request to practice the profession in the country and the free zones.
Abu Dhabi’s Global Market has launched a public consultation on proposed revisions to the Market’s regime for tackling money laundering, terrorist financing and proliferation and the financing of unlawful organisations. The consultation ends on 12 March 2019.
Oman Official Gazette, issue 1280 has included Executive Regulations clarifying provisions in the Income Tax Law. The new Regulations are found in Oman Ministerial Decision No. 14/2019 and the amendments include changes on withholding tax, deductibility of expenses, tax exemptions, administrative procedures and the tax ability of enterprises. They also detail new forms for providing or updating taxpayer information and procedures for obtaining a tax card, electronic filing and onsite inspection. The changes generally apply from 11 February 2019, although some have retroactive application to tax years beginning on or after 1 January 2018. Taxpayers should check these amendments for implications they may have on their tax returns.
Oman’s tax authorities are also expected to begin issuing Tax Cards for all corporate entities, including LLCs, SAOCs, SAOGs, branches of foreign companies and permanent establishments operating in the Sultanate shortly. The Cards are mandatory for companies following amendments to the Income Tax Law which were issued last year. The cards will be either chip-based or take the form of an electronic document with a Unique Identification Number. Card applications will have to be submitted on the Tax Department portal once the forms are available online.
Abu Dhabi’s Ruler has issued two new Laws, including Abu Dhabi Law No. 1/2019 establishing an Investment Office in the Emirate. The Office will be responsible for executing a comprehensive strategy for increasing Foreign Direct Investment to the Emirate. In addition, they will be able to set up a PPP Centre of Excellence. He also issued Abu Dhabi Law No. 2/2019 regulating partnerships between the public and private sectors.
This week the spotlight is on employment developments in Kuwait. With effect from June 2019, companies in the private sector who don’t comply with their prescribed Kuwaitisation ratios will be subject to an annual 300 Dinar fee for each work permit issued to a foreign national. The move was announced by the General Authority for Manpower and follows the issuing of a Ministerial Decision in late 2018 which determined the Kuwaitisation levels for companies in various business sectors and the general trend in Kuwait for encouraging the hiring of local employees in the private sector. Further details of the law are expected to be announced in the coming months.
Elsewhere, according to local newspaper reports, the Government has issued a Decree which from 1 April 2019 will reduce the number of expatriates in all Government departments. Following a Ministerial Decision there will be no exceptions to this Decree. Both legislative moves come as the Government looks to raise Kuwaitisation in Government jobs to 90% by the end of the next fiscal year.
