News developments Archives - Page 16 of 223

Qatar: Shura Council Approves Draft Law on Lost and Abandoned Property

20/06/202520/06/2025
by Hannah Gutang

Qatar Tribune, 17 June 2025: The Shura Council approved a draft law addressing the management of lost and abandoned property, advancing the legal framework for property handling in the state.

This proposed law, aimed at regulating the processes surrounding such property, has been crafted in its amended form alongside other legislative measures and forwarded to the esteemed government for further action.

The impacted parties include individuals and entities involved in property management, as well as government bodies responsible for implementation and enforcement. This legislation seeks to streamline legal procedures related to identifying, managing, and either returning or disposing of lost assets.

There will be new obligations for the respective governmental bodies to adopt mechanisms ensuring compliance with the new regulations, once it is enacted.

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Oman: Ministry of Transport Enforces Compliance Under New Maritime Law

19/06/202519/06/2025
by Hannah Gutang

The Arabian Stories, 16 June 2025: Oman’s Ministry of Transport, Communications, and Information Technology mandated compliance with Oman Sultani Decree No. 19/2023 for maritime shipping companies.

This law relates to companies involved in cargo agency, maritime shipping, and unloading brokerage, covering all facets of maritime transport services. This decision requires maritime shipping companies to adhere strictly to the provisions of this law, promoting transparency and maintaining service quality. The Ministry’s directive also emphasises that individuals seeking maritime shipping services should engage only with licensed companies, as detailed in an official directory available through the Ministry.

The directive prescribes obligations for the companies to ensure licensing and operational compliance.

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Kuwait: Central Bank Enhances Oversight on E-Payment Providers

19/06/202519/06/2025
by Hannah Gutang

Arab Times, 16 June 2025: The Central Bank of Kuwait (CBK) issued a comprehensive directive, tightening rules for electronic payment service providers to strengthen oversight and governance within the digital payments sector.

The regulatory circular, referring specifically to the existing framework supported by Article 85 of Kuwait Law No. 32/1968, aimed to increase operational oversight and enhance risk management for electronic payment service providers, electronic money institutions, and payment system operators in Kuwait.

The impacted parties include all entities involved in the provision of electronic payment services in Kuwait. Providers must ensure the accuracy and validity of documentation processed via the Electronic Payment Services Gateway System, with violations potentially incurring penalties under the law. Legal representatives or officially authorised personnel must manage submissions, with the CBK pre-emptively informed of any changes or authorisations.

Key legal requirements of the CBK’s Electronic Payment Business Regulations include adopting strict governance policies and enhanced oversight mechanisms. Providers must comply with Anti-Money Laundering and Counter-Terrorist Financing measures. Firms must inform the CBK of authorised user resignations and conduct annual reviews to ensure board members meet solvency and competence standards.

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Dubai: New Rule for Power of Attorney in Overseas Property Sales

19/06/202519/06/2025
by Hannah Gutang

Gulf News, 17 June 2025: Dubai authorities have issued new legal guidelines requiring overseas property investors to transact payments in their name, according to the title deed, when selling units in Dubai.

While earlier practices allowed power of attorney recipients to process payments, the new rule stipulates that cheques must be payable directly to the property owner as identified in the title deed.

This regulatory change impacts foreign property owners in Dubai who previously could designate relatives or third parties to receive sales proceeds. Under the new requirement, all monetary transactions for property sales must be directed to the bank account of the named title deed holder, eradicating the use of proxies for the financial aspect of sales. Furthermore, sellers are required to possess bank accounts within the UAE to process these transactions.

The obligation for property transactions emphasises the authentic identity of the seller, reducing chances of misrepresentation or fraud within the Dubai property market. This rule aligns with broader legal efforts to ensure clarity and straightforwardness in real estate dealings, demanding all PoA authorisations to be verified through Dubai’s local courts, which can now be conducted remotely, enhancing accessibility.

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Bahrain: Shura Panel Reviews Proposal to Cap Work Permits

19/06/202519/06/2025
by Hannah Gutang

The Daily Tribune, 16 June 2025: A draft amendment to Bahrain’s labour legislation has proposed instituting a fixed cap on work permits issuance, currently under review.

Bahrain is contemplating a significant modification to its labour law aimed at standardising the issue of work permits. The proposal, originally submitted by MPs from the elected chamber, calls for the establishment of a cap on the number of work permits that can be issued by the Labour Market Regulatory Authority (LMRA), subject to specification in the national plan. This marks a transition from discretionary authority to a mandated limit by the Labour Ministry, which would be applicable to all sectors and types of work.

The crux of the debate focused on whether instituting a fixed limit would promote market regulation or introduce unwarranted constraints. Committee members have been considering hypothetical scenarios on the operational impact of these limits and their potential effects on existing permit management processes.

The move would require parties involved—including the Labour Ministry and LMRA—to adhere to the prescribed cap upon approval, with immediate effect once incorporated into the legal framework.

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Abu Dhabi: Real Estate Regulations Update

19/06/202519/06/2025
by Hannah Gutang

The Department of Municipalities and Transport (DMT) of Abu Dhabi recently announced updates to the regulatory framework governing the emirate’s real estate sector.

A key component of this update is the enhancement of regulatory mechanisms and the empowerment of the Abu Dhabi Real Estate Centre to supervise the sector. This involves establishing clear legal and contractual frameworks that balance relationships among various stakeholders and safeguard their rights.

The comprehensive legal framework has been designed to ensure the long-term sustainability of jointly owned properties and common areas within development projects. It regulates professions related to the real estate sector to guarantee effective market governance and protect investor interests. There is a new definition of real estate activities, encompassing development, sale, purchase, registration, evaluation, management, and operation, thereby standardising and enhancing transparency across the sector.

Significant changes include provisions allowing developers to terminate off-plan sale and purchase agreements unilaterally if buyers fail to meet obligations, provided procedural compliance is met to secure ADREC approval. This adjustment aims to mitigate disputes, improve market dynamism, and reduce investment risks by streamlining resolution processes outside of court or arbitration.

Furthermore, the concept of Owners’ Committees has replaced Owners’ Associations, with their governance subject to decisions from the DMT Chairman, focusing on advisory roles. Management companies are tasked with operational responsibilities, ensuring the sustainability and effective management of shared facilities and common areas.

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Lexis Middle East Gulf Tax – Summer 2025 Edition

16/06/202519/06/2025
by Tanya Jain

Brought to You by Tolley+ Middle East

The Summer 2025 Edition of Lexis Middle East Gulf Tax brings readers a sharp and timely exploration of evolving tax regulations and practices across the GCC region. This issue is rich with expert insights, legislative updates, and practical guidance for tax professionals navigating an increasingly complex landscape.

FEATURE: WITHHOLDING TAX: YOU NEED TO KNOW

Shiraz Khan and Richard Ferrand from Al Tamimi & Co. delve into Saudi Arabia’s evolving position on Withholding Tax (WHT). The article explains the latest ZATCA (Zakat, Tax and Customs Authority) clarifications surrounding WHT benefits and how entities can apply for these incentives. It is an essential read for taxpayers and advisors managing cross-border payments and seeking certainty in compliance.

FEATURE: ADVANCES IN TRANSFER PRICING

Zain Satardien and Aakriti Sharma of Hourani and Partners provide an authoritative overview of recent ZATCA developments regarding Advance Pricing Agreements (APAs). Their analysis highlights how Saudi tax authorities are refining their transfer pricing approach to offer greater predictability for multinational enterprises operating in the Kingdom.

TAX NEWS ROUND-UP

A comprehensive digest of reent tax treaty updates and regulatory shifts across the Gulf. This section is a must-read for professionals seeking to stay abreast of strategic tax changes and how they may affect operations across multiple jurisdictions.

PRACTICAL FOCUS: FOCUS ON NATURAL RESOURCES

This piece by Baqar Palavandishvili of Galadari Advocates & Legal Consultants examines the implications of Sharjah Law No. 3/2025, a landmark reform introducing a corporate tax regime for extractive and non-extractive natural resource companies. The article breaks down the scope, compliance expectations, and what it means for businesses involved in energy and resource sectors.

TAX PROFESSIONAL PROFILE: TAKING A MORE FLEXIBLE APPROACH

In a candid interview, Illyana Panova, Global Tax Director for a Family Office, reflects on her experience as the first UAE-based tax expert to join the fractional executive community. She shares insights on adopting a flexible work model, lessons learned from leading global tax strategies, and how the regional tax landscape is evolving to accommodate non-traditional executive roles.

ANY QUESTIONS? WHAT’S DUBAI EXECUTIVE COUNCIL DECISION NO. 11/2025’S TAX IMPACT?

Andre Anthony and Adelina Frunza of CMS explore the tax implications of this new Dubai freezone regulation. Their article dissects the operational and strategic impact of Decision No. 11/2025 on freezone entities, offering clarity on potential challenges and planning opportunities for affected businesses.

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Lexis Middle East Gulf Tax_Summer 2025

Have you read the Lexis® Middle East Gulf Tax – Past editions? Click the links below to access them.

Lexis Middle East Gulf Tax | Spring 2025

Lexis Middle East Gulf Tax | Autumn 2024

Lexis Middle East Gulf Tax | Summer 2024

UAE: Cryptocurrency for Salaries and Payments

12/06/202512/06/2025
by Hannah Gutang

Khaleej Times, 4 June 2025: The UAE is set to integrate cryptocurrency into daily transactions, allowing residents to pay bills, traffic fines, and receive salaries in digital currencies.

Residents and businesses across the UAE, will be able to use cryptocurrencies for utility bills, groceries, and other payments. The legal precedent was set by a Dubai court when it ruled allowing an employee’s dues to be paid in both dirhams and cryptocurrency, as per their contract.

To use crypto currencies, businesses have to adapting their payment systems to accept cryptocurrencies, and residents would have to ensure compliance with the legal framework governing digital transactions.

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Qatar: New Regulations for Acquiring Land for Recycling Factories

12/06/202512/06/2025
by Hannah Gutang

Al Arab, 8 June 2025: The Ministry of Commerce and Industry has released regulations for obtaining land to establish recycling factories in Al-Afja, following the announcement of investment opportunities for private sector waste recycling projects.

Applications will be open until 21 August 2025, covering recycling industries such as wood, paper, plastic, glass, animal waste, textiles, food waste, electronic waste, and waste sorting.

Interested investors are encouraged to review the land allocation requirements for recycling activities. The new requirements included completing a form for licensing in the Al-Afja recycling industries area and submitting necessary documents, such as preliminary approval for an industrial project, a valid commercial registration, and a feasibility study.

The feasibility study must detail technical, environmental, and economic analyses, including factory plans, raw material sources, production capacity, environmental impact assessments, market evaluations, and agreements with suppliers. Previous experience in recycling industries will also be considered.

The Ministry of Commerce and Industry, in collaboration with the Ministry of Municipality, has facilitated applications through the One-Stop-Shop platform, connecting investors with 18 government entities. This digital system allows for electronic submission, modification, signing, and payment of fees globally, streamlining the process of obtaining necessary permits and licenses.

The initiative aims to enhance operational efficiency, reduce time and costs for investors, and support comprehensive company establishment services. Investors can obtain all required licenses to commence business activities, with immediate approval upon completing application procedures. The service includes commercial name reservation, commercial registration issuance, and obtaining various licenses based on selected business activities.

For factory establishment, investors begin with commercial registration, followed by preliminary project approvals, land allocation, environmental permits, and industrial license issuance, enabling factory setup and industrial registration.

For the full story, click here.

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Kuwait: Law to Enforce Payment of Public Service Fees

12/06/202512/06/2025
by Hannah Gutang

Arab Times, 8 June 2025: Kuwait’s government issued Kuwait Decree-Law No. 75/2025, aimed at enforcing the collection of fees for public services such as electricity, water, telecommunications, and transport.

The law introduced mechanisms to ensure timely payment and prevent fee evasion, reinforcing the principle that public utilities must be paid for under regulatory mandates.

Key provisions included automatic service suspension for debtors failing to pay within 30 days of notification, with services restored upon full payment. The law allowed installment-based repayments for those unable to pay in full, subject to creditor approval. Failure to adhere to the installment plan led to its cancellation and immediate debt recovery procedures.

Article 2 of Kuwait Decree-Law No. 75/2025 mandated a grievance process before legal action, requiring debtors to file a written complaint with the concerned authority, which must respond within 30 days. Article 3 of Kuwait Decree-Law No. 75/2025 granted government creditors a statutory lien over all debtor assets, ensuring priority in recovering dues. Article 4 of Kuwait Decree-Law No. 75/2025 elevated official debt documents to “executive instrument” status, allowing direct enforcement without lengthy court proceedings.

The law introduced a 10-year statute of limitations for fee collection, with interruptions possible through official notices from creditors. Judicial fees were exempted from the law’s provisions.

The legislation aimed to address widespread abuse of the existing system, where many beneficiaries delayed or avoided payments, burdening the state financially. It sought to restore financial discipline and ensure efficient management of public utilities, offering structured payment plans to balance enforcement with recognition of genuine financial hardship.

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