Newsletter Archives - Page 19 of 243 - LexisNexis Middle East

Saudi Arabia: Amends GCC Customs Tariff Schedule to Revise Duties on Select Products

21/05/202521/05/2025
by Tanya Jain

Saudi Gazette, 17 May 2025: The Saudi Ministry of Finance approved several amendments to the Integrated Customs Tariff Schedule for the Gulf Cooperation Council (GCC) states.

These amendments are set to take effect on 6 October 2025 and involve the imposition of revised duties on certain product categories, impacting importers and businesses dealing with products such as natural honey and chemical compounds. The revised tariff schedule includes a 5 percent customs duty on natural honey, including Manuka honey and other types, whether filtered or containing wax pieces. Additionally, a 2 percent duty was imposed on various chemicals, including acetophenone and benzophenone, while a 52 percent duty was applied to compounds like methyl naphthyl ketone.

The amendments also addressed the description and labeling of goods, correcting formal errors in the tariff schedules. Notably, a 5 percent duty was introduced for fresh fatty livers, and several types of frozen fish were renamed with a unified duty rate of 5 percent. Furthermore, Indian betel leaf was included in the customs tariff, while the import of khat was explicitly prohibited under the “other plants” section.

These legal changes align the tariff schedule with the decisions of the GCC countries, ensuring consistency and compliance across member states.

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UAE: Federal Tax Authority Clarifies Corporate Tax Rules for REIT Investors

15/05/202515/05/2025
by Hannah Gutang

The Finance World, 7 May 2025: The UAE Federal Tax Authority (FTA) issued a clarification CTP005 on the Taxation of investors in a Real Estate Investment Trust (REIT) that is exempt from Corporate Tax as a Qualifying Investment Fund

The clarification covers the income that will be taxed in the hands of juridical persons that are investors in a REIT and the relevant Tax Period in which the income will be taxed for such investors. It also provides information on the compliance obligations of the REIT and the investors.

A REIT that meets the conditions of Article 10(1) of Federal Decree-Law No. 47/20221 and Article 4(1) of Cabinet Decision No. 34/20252 can make an application to the Federal Tax Authority to be exempt from Corporate Tax as a Qualifying Investment Fund. Where a REIT is exempt from Corporate Tax, the Taxable Income of a juridical person that is an investor in the REIT is adjusted to include 80% of the prorated Immovable Property Income of the REIT. However, if the REIT makes a distribution within nine months from the end of its Financial Year and the investor has not received the dividend distribution due to the disposal of its entire Ownership Interest in the REIT, the investor will not be subject to Corporate Tax on the Immovable Property Income of the REIT.

A REIT must provide specific information in respect of the period to which the distribution relates, or the relevant Financial Year of the REIT, as the case may be. This includes the amount of Immovable Property Income of the REIT; whether the REIT is a distributing fund for such Financial Year; and the amount of tax depreciation deduction for each investment property.; any disposals of investment property for which a tax depreciation deduction was previously claimed. A REIT is not required to provide investors with information that is not relevant to the investor’s Corporate Tax obligations or which the investor has an obligation to keep in their own records, such as the investor’s own acquisition cost or disposal proceeds of an Ownership Interest in the REIT.

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Saudi Arabia: New Labour Regulations Banning Personal Freedom Questions in Job Interviews

15/05/202515/05/2025
by Hannah Gutang

Gulf News, 9 May 2025: The Saudi Ministry of Human Resources has issued new labour regulations prohibiting questions related to personal freedoms during job interviews.

This is part of Saudi Arabia’s ongoing efforts to regulate its labour market and ensure fair employment practices, particularly for its large expatriate community.

The decision impacts employers and job applicants across Saudi Arabia, mandating that job interviews and announcements to be free from discrimination based on gender, disability, age, and marital status. Interviewers are also prohibited from asking about an applicant’s previous workplace confidentialities, ensuring privacy and respect for personal boundaries.

Employers are obligated to inform job applicants of interview details at least three working days in advance, whether the interview is in-person or remote. The interview venue must comply with health and safety regulations, providing adequate seating, visible entrances and exits, and gender-specific restrooms. Security measures, such as electronic systems or security guards, must also be in place.

Additionally, job vacancy announcements must align with the Saudi Unified Occupational Classification and be posted on official digital platforms or licensed employment fairs. These announcements must include comprehensive details such as the company name, activity, office location, job description, required qualifications, work hours, benefits, and application procedures.

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Qatar: Cabinet Approves Draft Traffic Law Legislation

15/05/202515/05/2025
by Hannah Gutang

Qatar Tribune, 8 May 2025: The Qatari Cabinet approved draft legislation for a new traffic law.

This legal decision is part of the Ministry of Interior’s strategy to regulate and develop traffic movement, improve traffic security, and adapt to advancements in infrastructure and automotive technology.

The draft legislation introduces updated mechanisms for detecting traffic violations, thereby serving the public interest. The law aims to align traffic regulations with the nation’s infrastructural developments and technological advancements, ensuring a safer and more efficient traffic system.

The draft law has been referred to the Shura Council for further deliberation.

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Kuwait: Health Ministry Sets Prices for Sets Medicines

15/05/202515/05/2025
by Hannah Gutang

Kuwait Times, 12 May 2025: Kuwait Ministerial Decision No 93/2025, has been issued approving new pricing for 69 medicines and pharmaceutical products in private pharmacies.

The decision follows recommendations made by the Drug Pricing Committee. These approved prices are for a wide range of therapeutic categories. These include medications for cancer, including leukemia, as well as treatments for diabetes, hypertension, high cholesterol, and cardiovascular diseases. It also covers anticoagulants, antidepressants, antiepileptics, antibiotics, antifungals, antivirals, asthma treatments, osteoporosis drugs, thyroid medications, dermatological preparations, Alzheimer’s and dementia treatments, obesity medications, and migraine relief drugs.

The new decision complements Kuwait Ministerial Decision No. 74/2023.

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Dubai: Smart Building Policy

15/05/202515/05/2025
by Hannah Gutang

Gulf News, 9 May 2025: Sheikh Hamdan has approved a smart building policy design to reduce consumption of water and energy.

Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Chairman of the Executive Council, has approved the new policy measures in alignment with the objectives of the Dubai Social Agenda 33 and the Dubai Economic Agenda D33. The policy is being led by the Dubai Municipality. It outlines standards for smart buildings that use renewable energy, intelligent water networks, smart parking, automated climate control, and real-time monitoring systems.

It aims to reduce power consumption in buildings by 25%, water use by 15%, and operational costs by 20%,

At present, adoption of the policy is purely voluntary in new buildings, but it will be backed up by initiatives to encourage adoption by investors and developers in due course.

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Bahrain: Implements New Halal Regulations

15/05/202515/05/2025
by Hannah Gutang

The Daily Tribune, 8 May 2025: Bahrain’s Ministry of Municipalities Affairs and Agriculture has issued Bahrain Decision No. 61/2024 to regulate halal production and certification processes.

This legal framework aims to ensure that halal goods meet Islamic rules throughout all stages of preparation and sale, aligning with Bahraini product standards and GCC agreements.

The decision impacts producers and certifying bodies, requiring them to obtain halal certification from the Ministry or recognised entities. Companies must conduct regular internal checks and comply with site visits, sample testing, and production audits by Ministry inspectors to verify adherence to halal standards.

The Ministry oversees requests for halal checks and approves certifying bodies, ensuring their capability to issue certificates. Article 6 of Bahrain Decision No. 61/2024 outlines the responsibilities of these bodies, including collaboration with the Ministry and ensuring compliance by endorsed entities.

Halal audit teams are tasked with inspecting and testing food and services to ensure compliance, with penalties for non-compliance detailed in Article 13 of Bahrain Decision No. 76/2024. The initiative includes developing the Bahrain Halal Platform, an online system for verifying product certification.

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UAE: Securities Authority Imposes Disciplinary Actions for Market Violations

08/05/202508/05/2025
by Tanya Jain

Mubasher, 6 May 2025: The UAE Securities and Commodities Authority (SCA) has issued a financial penalty of AED 100,000 to an investor for engaging in pre-emptive trading activities.

The relevant regulation governs trading, clearing, settlement, transfer of ownership, and custody of securities.

In a separate disciplinary action, the SCA revoked a preliminary approval of an employee holding the position of “Promotion Manager” at a licensed company. The revocation followed the employee’s proven misconduct during an examination on the UAE’s financial systems and regulations.

For full story, click here.

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Saudi Arabia: Directory for Occupational Safety and Health Standards

08/05/202508/05/2025
by Tanya Jain

Saudi Gazette, 4 May 2025: The Saudi General Organisation for Social Insurance (GOSI) has launched a comprehensive directory for occupational safety and health standards.

This initiative, unveiled at the Global Occupational Safety and Health Conference 2025 in Riyadh, impacts specialists, establishments, and relevant entities across the Kingdom, providing a unified reference to enhance workplace safety and health standards.

The directory, developed based on international best practices, will provide guidance for employers, workers, and inspectors, offering clear preventive standards to mitigate workplace injuries and occupational hazards. It covers over 4,500 standards across six main sectors: public industries, construction, agriculture, maritime activities, transport, and mining. Additionally, there is a detailed classification of more than 70 sectors aligned with the national directory of economic activities.

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Sharjah: Law to Regulate Judicial Authority

08/05/202508/05/2025
by Tanya Jain

Mubasher, 6 May 2025: The Ruler of Sharjah has approved a draft law on the organization of the judicial authority in the emirate.

The law outlines the formation of the Judicial Council, which includes key judicial figures such as the President of the Judicial Department, the Head of the Legal Department of the Sharjah Government, and the Attorney General, among others. The council is tasked with ensuring the independence, integrity, and neutrality of the judiciary, aligning with the emirate’s vision for a developed judicial system.

Key responsibilities of the council include setting general policies, proposing and reviewing legislation related to the judiciary, overseeing judicial operations, and organising restorative justice. The council will also handle appointments, promotions, and retirements of judicial members, ensuring adherence to legal standards.

The law mandates the creation of a judicial code of conduct and allows for the outsourcing and privatization of judicial services, with specific regulations and fees. It also requires the preparation of an annual report on judicial achievements and challenges, submitted to the Ruler.

For full story, click here.

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