According to local newspaper reports, Oman’s Shoura Council has issued a Decision halving the minimum wage requirement for expatriate workers who are looking to bring their family to the Sultanate with them. The wage requirement has been cut from 600 to 300 Rials. The change comes as the country looks to diversify its economy through its Tanfeedh programme.
Qatar’s Civil Aviation Authority (QCAA) and the European Aviation Safety Agency (EASA) have signed an agreement to cooperate on regulatory and aviation safety issues. The agreement aims to enhance collaboration to improve safety and harmonise global aviation including information, knowledge and expertise sharing and regulatory cooperation. It was signed for the EASA by its Executive Director, Patrick Ky and for the QCAA by its Chairman, HE Abdulla Nasser Turki Al Subaey.
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Written Dr Marjan Atashi Golestan is a Visiting Professor of Law at University of Allameh Tabatabaei and Industrial Management Institute of Iran (IMI) who has carried out a specific and detailed study of the law impacting overseas companies and investors who wish to set up and operate in Iran.
The legislative position in Iran in this area is not always clear and some of the legislation can be confusing when looked at in isolation. As a result Dr Golestan has carried out extensive research including reviews of associated parliamentary debates and provides information on the practice on the ground to clarify the position.
A key point for those investing in Iran is whether they want protection from potential nationalization and expropriation, so the benefits and requirements for registration under this regime is discussed extensively, along with differences between onshore and freezone operations, intellectual property concerns, visa requirements for expatriate staff and business owners, taxation and dispute resolution options.
The UAE’s President, HH Sheikh Khalifa bin Zayed Al Nahyan has issued Federal Law No 10/2017 on domestic workers. The Law aims to provide protection to these workers and regulate their contractual arrangements. The Ministry is finalising the Law’s Implementing Regulations and the labour contract models ahead of the law being implemented. It will protect workers in 19 occupations including sailors, guards, parking valet workers, farmers, gardeners, domestic workers, cooks and nannies.
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.
This week the spotlight is on tax developments in Saudi Arabia, where the Kingdom’s General Authority of Zakat and Tax has approved the Implementing Regulations to the VAT Law. It comes as the Kingdom prepares to launch VAT on the 1 January 2018. The Regulations set out the scope of taxation for certain goods and services, explain registration rules and eligibility of businesses for VAT, zero-rated and exempted supplies, the treatment of imports and exports, amongst other things. Decision of the Board of Directors of the General Authority of Zakat and Tax No. 3839/1438 was Gazetted in Saudi Arabia Official Gazette, issue 4689.
In a related development, the Authority also announced it has extended the VAT registration deadline for small businesses by an additional year. Businesses whose annual taxable supplies of goods and services do not exceed one million Saudi riyals will be exempt from the requirement to register by 20 December 2017. They will have until 20 December 2018 to register now. All businesses whose annual taxable supplies exceeded 375,000 Riyals had been told they were required to register for VAT. However, companies who have an annual taxable supply of goods and services over 187,500 Riyals can choose to register or not for input tax deduction.
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This week the spotlight is on developments in the DIFC, where the Dubai International Financial Centre Courts have announced they have launched a specialist division for the region’s technology and construction companies to resolve their most complex commercial disputes. The Technology and Construction Division (TCD) draws on specialist judges and industry-specific rules to fast-track dispute resolution in technically complex cases like complicated engineering disputes or claims arising out of fires. Parties anywhere in the world will be able to opt-in to the Courts’ jurisdiction, if both parties agree in writing. Requests to have claims heard by the Division are made as part of the initial filing, with the Courts’ decision based on the written evidence provided. It will be headed by Justice Sir Richard Field.
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.
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.
