News developments Archives - Page 219 of 226

Dubai: New regulations have been issued to regulate sick leave for public sector employees

29/09/201711/12/2019
by Benjamin Filaferro

The Chairman of the General Medical Committee of Dubai, Atef Saleh has confirmed new regulations have been issued to regulate sick leave for public sector employees including maternity leave. Under the regulations, employees who need more than one day of sick leave should submit supporting documents. Saleh confirmed the Committee is using guidelines complied by a number of experts which specifies the necessary sick leave for different medical situations.

Our newsletters have changed! The weekly newsletter is now more interactive…

29/09/201711/12/2019
by Benjamin Filaferro

The weekly newsletter is now more interactive. From now on, you won’t have to wait one full week to read our latest news. All our news will be published daily on https://www.lexis.ae and on our twitter account https://twitter.com/LexisNexis_ME and you will receive every week an email wrapping up the latest news.

The monthly newsletter is changing too: a new look, the complete list of newly published laws, gazettes, and cases, and a free article from our MENA Business Law Review. Stay tuned!

Saudi Arabia’s General Authority for Zakat and Tax would allow VAT to be paid in instalments over 12 months

25/09/201711/12/2019
by Benjamin Filaferro

According to local newspaper reports, Saudi Arabia’s General Authority for Zakat and Tax is going to allow VAT to be paid in instalments over 12 months. This will be allowed if a person or entity being taxed presents evidence they are unable to pay the tax when due, or are suffering hardship from paying the charges in one payment. The taxable person must send a request to the Authority giving the reasons for inability to pay the tax by the due date. The Authority will confirm whether the request is approved or rejected within 20 days. The arrangement can be revoked at any time if the Authority considers it necessary to protect the public revenues or if the person fails to pay two instalments totalling 50% of the total owed.

UAE’s Standardisation and Metrology Authority has announced it is considering new rules for gold

25/09/201711/12/2019
by Benjamin Filaferro

The UAE’s Standardisation and Metrology Authority has announced it is considering new rules for gold. The rules are expected to be in force by the end of the year. The rules will cover the trade in and stamping of precious stones and metals. The draft rules are being considered following consultation with the relevant parties.

UAE’s Federal Tax Authority has announced it will open online excise tax registration

25/09/201711/12/2019
by Benjamin Filaferro

The UAE’s Federal Tax Authority has announced it will open online excise tax registration for businesses on 17 September. Businesses will be able to register 24 hours a day, 7 days a week. They will have to register via the Authority’s website.

Kuwaiti bourse is set to change the limits for trading shares in one transaction

25/09/201711/12/2019
by Benjamin Filaferro

Sources have suggested the Kuwaiti bourse is set to change the limits for trading shares in one transaction whether it is buying or selling by removing the maximum limit of five million shares in one transaction. The aim is to improve the environment for investment companies. Under the amendments, there will not be a limit on the number of shares which can be bought or sold in one transaction as long as the number of traded shares does not exceed 5% of the company’s capital in the Bourse. The amount of shares bought by an investor must also not trigger the need to request an obligatory request offer for purchase under Kuwait Law No. 7/2010 as amended.