Newsletter Archives - Page 33 of 247 - LexisNexis Middle East

Ajman: Enforces Stricter Penalties for Veterinary Violations

21/02/202521/02/2025
by Tanya Jain

Khaleej Times, 14 February 2025: Ajman Municipality has implemented a comprehensive plan to ensure veterinary facilities comply with federal regulations through regular inspection campaigns.

Veterinary establishments are required to dispose of expired products safely via accredited companies within three months of expiration.

In collaboration with the Ministry of Climate Change and Environment, the municipality has emphasised regulatory compliance and environmental safety.

Violators face fines from Dh10,000 to Dh500,000 under Federal Law No. 9/2017.

The municipality also mandates proper documentation, including valid licenses and contracts for pest control and safe disposal.

Key directives include restricted pesticide use and sourcing medicines from approved suppliers.

Non-compliance may lead to fines, product confiscation, or facility closure.

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Abu Dhabi: Eases Business Expansion Rules for Non-Local Firms

21/02/202521/02/2025
by Tanya Jain

Dubai Eye, 13 February 2025: Abu Dhabi’s Department of Economic Development has introduced new measures to facilitate business growth and expansion within the emirate.

The updated regulations allow companies registered in other emirates and their free zones to establish branches in Abu Dhabi without the requirement of a physical office for the first year.

A total of 1,200 economic activities across various sectors are exempt from the need for physical premises for one year from the date of their licence issuance.

Business owners from other emirates can apply for a new branch licence through the TAMM digital platform, which simplifies the process with online document submissions, approvals, and payments.

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Saudi Arabia: Health Ministry Enforces Compliance with Health Regulations

18/02/202518/02/2025
by Tanya Jain

Ajel, 12 February 2025: The Health Ministry has emphasised the necessity of full compliance with the approved regulations and laws regarding the practice of health professions, private health institutions, and pharmaceutical establishments and products.

The ministry has added that the Health Professions Practice System stipulates that a health practitioner must not engage in diagnostic and treatment methods that are not scientifically recognised or prohibited in the Kingdom.

It is also prohibited, except in cases specified by the executive regulations, for the practitioner to advertise themselves or promote themselves directly or through intermediaries.

The Private Health Institutions System also stipulates the prohibition of advertising health institutions except in accordance with the executive regulations and professional ethics, and it prevents the health practitioner from advertising themselves or using unapproved titles.

The Pharmaceutical Establishments and Products System states the prohibition of trading pharmaceutical and herbal products before registering them with the General Authority for Food and Drug, and that pharmaceutical product advertisements must comply with the regulations specified in the executive regulations.

Anyone who sells, dispenses, or possesses unregistered pharmaceutical products with the intent to trade is considered in violation of this system.

The Health Ministry has stated that penalties in these cases include: a financial fine of up to 10 million riyals, imprisonment for up to ten years, closure of the establishment, and revocation of the licence (for the establishment and the practitioner).

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UAE: Announces Cabinet Decision on Introduction of Top-Up tax for Multinational Enterprises

13/02/202513/02/2025
by Hannah Gutang

The Finance Ministry has introduced Cabinet Decision No. 142/2024, detailing the new Top-up Tax for Multinational Enterprises, specifically the UAE Domestic Minimum Top-up Tax (UAE DMTT).

This follows a previous announcement made on 9 December 2024.

The UAE DMTT aligns with the GloBE Model Rules from the Organisation for Economic Co-operation and Development (OECD).

It targets entities within Multinational Enterprises (MNEs) operating in the UAE, with annual global revenues of €750 million or more, as reflected in the Consolidated Financial Statements of the Ultimate Parent Entity for at least two of the four financial years preceding the applicable financial year.

The tax offers relief through a Substance-based Income Exclusion, which reduces the net Pillar Two income subject to the UAE DMTT.

This is calculated based on payroll and the carrying value of tangible assets to determine Excess Profit for tax computation.

In line with the GloBE Model Rules, the UAE DMTT includes a de minimis exclusion, allowing an entity’s UAE DMTT to be zero if specific criteria are met.

To enhance the UAE’s appeal as an investment hub, Investment Entities, as defined by these rules, are excluded from the UAE DMTT.

As a transitional measure to foster economic growth, the UAE DMTT will not be applied during the initial phase of an MNE Group’s international activity, provided no ownership interests in UAE entities are held by a parent entity subject to a Qualified Income Inclusion Rule in another jurisdiction.

The UAE DMTT should be interpreted according to the OECD’s Commentary and Administrative Guidance.

Cabinet Decision No. 142/2024 can be accessed on the UAE Legislation’s website: www.uaelegislation.gov.ae/en.

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Saudi Arabia: Government Entities Exempted From Fines on Violations

13/02/202513/02/2025
by Hannah Gutang

Agraam, 8 February 2025: A royal decree has been issued in Saudi Arabia, exempting government entities from penalties and fines associated with violations of municipal licensing regulations.

These entities are required to address and rectify the violations within one year from the date of the decree.

The decree also authorises the Municipalities and Housing Minister to extend the exemption period for an additional year.

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Qatar: Central Bank Introduces Real Estate Development Escrow Account Guidelines

13/02/202513/02/2025
by Hannah Gutang

The Peninsula, 10 February 2025: Qatar Central Bank (QCB), in collaboration with the Real Estate Regulatory Authority – Aqarat, has announced new guidelines for the creation and management of real estate development escrow accounts.

This initiative is part of QCB’s ongoing efforts to regulate banks’ interactions with escrow accounts specifically for real estate development, ensuring a structured and supervised approach.

The guidelines aim to streamline the operation of escrow accounts, facilitate necessary approvals, and manage off-plan sales effectively.

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Oman: Shura Council Approves Draft Telecommunications and IT Regulatory Law

13/02/202513/02/2025
by Hannah Gutang

Oman Observer, 10 February 2025: The Majlis Ash’shura has given its approval to the draft telecommunications and information technology regulatory law, which was submitted by the government.

This draft law, comprising 10 chapters and 56 articles, is designed to regulate the telecommunications sector and its related services.

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Kuwait: Tightens Money Transfer Regulations to Combat Financial Crimes

13/02/202513/02/2025
by Hannah Gutang

Arab Times, 10 February 2025: Kuwait has recently implemented stricter regulations on money transfers, raising concerns for individuals and companies involved in regular financial transactions.

Those who frequently assist friends with money transfers or act as intermediaries for businesses with employees abroad may find their transactions under increased scrutiny.

The Central Bank of Kuwait is enforcing more rigorous measures to verify the actual beneficiaries of financial transfers, even for amounts under 50 dinars.

This scrutiny applies to recurring transactions, requiring individuals to justify the reasons for their transfers, regardless of their relationship with the exchange company.

These regulatory changes aim to strengthen efforts against money laundering and terrorist financing, aligning with the Financial Action Task Force (FATF) guidelines.

The new rules enhance the Central Bank’s oversight, ensuring that financial transfers comply with FATF standards.

Exchange companies must verify customer information and beneficiary data throughout the transaction process, keeping this information updated and confirming its validity.

Due diligence measures include assessing the effectiveness of automated systems that monitor and prevent illicit activities.

Customer and transaction records must be retained for at least five years after a transaction, with data accuracy verified for transactions exceeding 3,000 dinars in one day.

Exchange companies are also required to report suspicious transactions potentially linked to crime or terrorism financing.

The Central Bank emphasises the importance of effective procedures for reporting suspicious activities.

In cases of suspected illicit transactions, thorough investigations and documentation are required, identifying all parties involved and exploring any potential connections to money laundering or terrorism financing.

To ensure compliance, exchange companies must implement customer due diligence measures based on assessed risk levels.

This includes reviewing customer files and transactions, with additional scrutiny for high-risk customers.

Furthermore, exchange companies must engage an audit office, preferably linked to an international entity, to evaluate compliance with Kuwait Law No. 106/2013.

This audit focuses on unusual transactions lacking clear economic justification, with reports required semi-annually.

Ongoing due diligence requires exchange companies to implement an automated system to verify names against lists of individuals and entities subject to freezing orders, ensuring compliance with international sanctions related to terrorism and weapons proliferation.

Under the new framework, exchange companies are prohibited from providing financial services to individuals or entities listed in freezing decisions, reinforcing Kuwait’s commitment to global security efforts.

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Fujairah, UAE: 20% Salary Hike Announced for Government Employees

13/02/202513/02/2025
by Hannah Gutang

Khaleej Times, 6 February 2025: Fujairah has announced a 20% salary increase for government employees from 1 February 2025.

Furthermore, 72% of UAE nationals expect a salary increase in 2025.

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Dubai: Issues Law On Emblem

13/02/202513/02/2025
by Hannah Gutang

The Prime Minister of the UAE has enacted Dubai Law No. 1/2025, which governs the use of emblems associated with the Emirate and Government of Dubai.

This legislation establishes that Dubai will have a unique emblem symbolising its identity, heritage, values, principles, and vision.

The Law declares the Dubai Emblem as the property of the Emirate, while the Government Emblem belongs to the Government of Dubai.

Both are protected under this new Law and existing legislation.

The emblem described in Dubai Law No. 17/2023 is also protected, and unauthorised use is prohibited.

The Dubai emblem is restricted to specific locations, events, documents, and seals of entities authorised by the Chairman of Dubai’s Ruler’s Court.

Only Dubai Government departments, public agencies, corporations, government councils, authorities, and affiliated entities may use the emblem.

Any other use requires special permission from the Chairman or an authorised representative, complying with specified guidelines.

The emblems must be used according to a manual developed by the General Secretariat of The Executive Council and approved by the Chairman of The Executive Council of Dubai.

Unauthorised use of the emblem by individuals or entities, or for commercial purposes, advertising, or in a manner that distorts its value, is strictly prohibited.

Use in activities or events that contradict Dubai’s values or public order is also forbidden.

The Law mandates reporting of any violations to competent authorities, including the Department of Economy and Tourism in Dubai, authorities overseeing Special Development Zones and Free Zones, and relevant judicial bodies.

These entities are tasked with taking legal action against violators.

Penalties for prohibited acts include prison for up to five years, fines ranging from AED100,000 to AED500,000, or both, without affecting stricter penalties under other laws.

These penalties also apply to violations related to the emblem as per Dubai Law No. 17/2023.

Unauthorised users of the emblem must cease use and remove it within 30 days unless they obtain the necessary permission under the new Law.

Dubai Law No. 1/2025 supersedes Dubai Law No. 17/2023 and repeals conflicting provisions in other legislation.

It will be published in the Official Gazette and take effect upon publication.

The Chairman of The Executive Council of Dubai will issue resolutions for its implementation.

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