Benjamin Filaferro, Author at LexisNexis Middle East

Saudi Arabia: Consultation on Proposed Amendments to Implementing Regulations to VAT Law Launched

29/09/202129/09/2021
by Benjamin Filaferro

Al Madina, 27 September 2021: Saudi Arabia’s General Authority of Zakat and Tax has announced it has launched a consultation on proposed amendments to the Implementing Regulations to the VAT Law.

If approved, taxpayers will be able to assign a third party to issue tax bills on their behalf.

Taxpayers should also issue a tax bill for goods supplies and services they provide to another person or to a legal one.

In addition, the tax bill should be issued according to the date of supply.

For full story, click here.

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News developments

Dubai: Region’s First Smart Court to be Launched

28/09/202128/09/2021
by Benjamin Filaferro

Alroeya, 26 September 2021: The Jebel Ali Free Zone and Dubai Courts have announced they have launched the region’s first smart court.

It will consider the cases related to labour disputes for companies registered in the Free Zone.

The parties to a dispute will be able to attend a virtual court which will be connected with the Dubai Courts.

The smart court will create an environment similar to the classical courts with more integrated services. Almost 8,500 companies from 140 countries will benefit from the court’s services.

The aim of launching the smart court is to create a flexible judicial environment which will protect employee’s rights in the free zone and help improve judicial proceedings.

For full story, click here.

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News developments

Turkey: Paris Climate Agreement to be Submitted to Parliament Next Month

26/09/202126/09/2021
by Benjamin Filaferro

Hurriyet Daily News, 22 September 2021: Turkey’s President has announced the Government will submit the Paris Climate Agreement to Parliament next month.

The Government want to ratify the Agreement before the UN Climate Change Conference in Glasgow in November.

Turkey signed the Agreement in April 2016. However, they have been lobbying to be classed as a developing rather than developed country.

This would mean they wouldn’t have to cut their emissions as dramatically.

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News developments

Ummal Quwain: Foreign Freehold Real Estate Ownership Decision Issued

26/09/202126/09/2021
by Benjamin Filaferro

Ummal Quwain’s Ruler has issued Ummal Quwain Decision No. 4/2021 on foreign freehold real estate ownership in the Emirate.

Under the Decision, foreigners, limited liability companies partially owned by foreigners, free zone companies and offshore companies will be able to own freehold real estate ownership.

Any legislation which contradicts or contravenes it will be repealed.

It also states specific freehold ownership zones will be determined under a Decision from the Ruler and taking real estate development, freehold real estate ownership for foreigners or any other relevant considerations into account.

It will be published in the Official Gazette and come into force on its issued date.

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News developments

Egypt: Opening Hours Amended for Cafes and Restaurants

26/09/202126/09/2021
by Benjamin Filaferro

Egypt Independent, 19 September 2021: Egypt’s Local Development Ministry has announced opening hours for shops, cafes and restaurants have been amended.

They were amended following a Decision from the Supreme Committee for Shop Licensing Public Shops.

The amended opening hours will come into force on 30 September 2021.

All, shops, cafes and restaurants which aren’t specified in Article 3 of the Decision will be allowed to open at 7am and will have to close at 10pm.

On Thursdays, Fridays and holidays during winter they will be able to close at 11pm.

Restaurants, cafés and bazaars, including those in malls, will be allowed to open from 5am and will have to close at 12am.

Takeaway and delivery service for restaurants and cafés will be able to operate at 24 hours a day.

Workshops and craft shops in residential blocks will be open at 8am and close at 6pm. Workshops on roads and gas stations as well as workshops associated with urgent services for citizens will not be included.

A separate decision will be issued by the Chairman of the Supreme Committee for Licensing Public Shops for these entities.

Shops in coastal and tourist governorates may be modified by a decision of the Chairman of the Supreme Committee for Licensing Public Shops following a proposal from the relevant governor or the head of the New Urban Communities Authority after it is presented to the Higher Committee for Licensing Public Shops together with the Tourism and Antiquities Minister.

Grocery stores, supermarkets and bakeries will be exempt from these requirements. The night activities of some shops selling fruit and vegetables, poultry, wholesale markets and pharmacies will have to be taken into account.

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News developments

Saudi Arabia: Foreign Investment Law Amendment Approved

22/09/202122/09/2021
by Benjamin Filaferro

Okaz, 19 September 2021: The Saudi Arabian authorities have approved amendments to the Kingdom’s Foreign Investment Law.

Under the amendments, specific standards to protect pioneering Saudi companies will be introduced.

They will also be developed and the rules and procedures for disposing of their shares reviewed.

For full story see https://www.okaz.com.sa/news/local/2082454.

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News developments

Dubai International Financial Centre Issues Employment Law Amendments

21/09/202121/09/2021
by Benjamin Filaferro

Dubai’s International Financial Centre has enacted the Employment Law Amendment Law, DIFC Law No. 4/2021.

It brings the Qualifying Scheme regime under the Employment Law in line with the DFSA’s Employee Money Purchase Scheme, so that only a single layer of regulation is applied to these schemes.

The amendments also clarify the application of limitation periods to claims made under the Employment Law, the accrual of vacation leave, the duration of the probationary period for short term fixed-term contracts and certain definitions in the Law.

In addition, it modifies the basic workplace health and safety requirements under the Employment Law, to take working from home arrangements into account.

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News developments

Dubai: Emirates Maritime Arbitration Centre to be Dissolved

21/09/202121/09/2021
by Benjamin Filaferro

Dubai’s Ruler has issued Dubai Decree No. 34/2021 dissolving the Emirates Maritime Arbitration Centre.

The Dubai International Financial Centre Arbitration Institute will also be dissolved.

Their operations and assets will be emerged into a Dubai International Arbitration Centre. It will be an independent non-profit institution and will provide regional and international business communities with world-class arbitration services.

Ownership of real estate, assets, funds, staff, financial allocations and membership base will also be transferred to the new Centre.

The Decree specifies the Centre’s objectives, functions and organisational structure. It will have a Board of Directors as well as an arbitration court which will be established in line with the new structure and an administrative unit.

The court will have 13 members, including a President and Vice President. Its members will have locally and internationally accredited arbitration expertise and will be appointed by decisions of the Centre’s Board of Directors for a non-renewable term of four years.

Dubai Decree No. 10/2004 will be repealed.

The Dubai Courts and DIFC Courts will continue to hear claims, applications and appeals related to arbitration proceedings conducted in tribunals of the dissolved arbitration centres.

Anything which contradicts or contravenes the Decree will be repealed.

The Centre will have to comply with the Decree within six months.

The aim is to boost the efficiency of the Emirate’s alternative dispute resolution sector and reinforce its status as a global arbitration hub. Also reported in Alroeya on 18 September 2021. For full story, click here.

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News developments

Bahrain: Execution Law in Civil and Commercial Matters Law Issued

19/09/202119/09/2021
by Benjamin Filaferro

Bahrain’s King has issued Bahrain Decree-Law No. 22/2021 approving the issuing of the Execution Law in Civil and Commercial Matters.

The Prime Minister and relevant Ministers will be responsible for implementing it.

It will be published in the Official Gazette and come into force six months after it is published.

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News developments

Abu Dhabi: Creative Media Authority to be Established

19/09/202119/09/2021
by Benjamin Filaferro

Alroeya, 15 September 2021: Abu Dhabi’s Ruler has issued a law establishing a Creative Media Authority.

It will report to the Culture and Tourism Department.

It will be responsible for promoting the growth of the creative sector in the Emirate and providing the necessary infrastructure for the prosperity of creative institutions.

This will be done by regulating and supervising the activities of creative media production for private sector companies and developing initiatives to attract, motivate and develop talents in the creative field as well as SMEs. For full story, click here.

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