Newsletter Archives - Page 33 of 243 - LexisNexis Middle East

Saudi Arabia: Announces New Benefits for Importers and Exporters

16/01/202516/01/2025
by Hannah Gutang

Gulf Insider, 12 January 2025: Saudi Arabia has introduced a series of incentives aimed at enhancing trade within the Kingdom, focusing on import and export businesses.

The Zakat, Tax and Customs Authority (ZATCA) has partnered with 14 government entities to fortify the Saudi Authorised Economic Operator Program.

This collaboration is set to offer new benefits and incentives to importers and exporters, fostering improved cooperation between government bodies and the commercial sector.

The initiative is designed to enhance the security of the global supply chain while providing significant advantages to participating businesses.

ZATCA, in conjunction with its government partners, offers a variety of administrative, procedural, and financial benefits tailored for importers and exporters.

Additionally, a specific category of benefits is available for logistics service providers, such as customs brokers and freight forwarders.

The revamped Saudi Authorised Economic Operator Program is pivotal in advancing the Kingdom’s logistics sector by streamlining trade processes and enhancing competitiveness through inter-agency collaboration.

This effort aims to facilitate trade, improve supply chain efficiency, and expedite procedures, ensuring seamless and flexible trade operations.

It also seeks to enhance access to global markets, complying with the highest international standards and best practices.

This initiative aligns with international trade security and facilitation standards set by the World Customs Organisation, with mutual recognition agreements playing a key role in fostering international cooperation and trade benefits.

Interested parties can find more information about the program’s advantages and conditions on ZATCA’s website.

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Qatar: New Legislation Enhances Procedures for Certified Document Handling

16/01/202516/01/2025
by Hannah Gutang

This legislation, Qatar Ministerial Decision No. 157/2024, aims to ensure the integrity and compliance of certified documents when dealing with foreign authorities and within the judicial system.

The legislation outlines specific guidelines for the acceptance and deposit of certified documents before foreign authorities.

It mandates that documents must be authenticated by competent authorities in the issuing foreign country and the Foreign Affairs Minister in Qatar.

In a significant move to streamline the handling of certified documents, the Justice Ministry in Qatar has issued new legislation detailing comprehensive procedures and regulations.

Additionally, documents must comply to local laws and public morals, with certified Arabic translations required for non-Arabic documents.

Furthermore, the legislation provides a framework for issuing additional executable copies of previously executed documents.

It specifies the conditions under which such copies can be requested, ensuring that applicants have a legitimate interest and that the original document was issued by the administration.

The transfer of original documents to courts or prosecution is also addressed, with strict conditions to prevent unauthorised modifications.

The legislation requires that originals be returned after their intended use, maintaining the integrity of the documents.

Appointed experts reviewing certified documents must meet specific criteria, including registration with the Justice Ministry and presenting judicial appointment orders.

The review process is to be conducted under the supervision of responsible administration employees.

In cases where translators from outside the Ministry of Justice’s experts’ list are needed, the legislation sets conditions to ensure accountability and accuracy.

This includes the absence of registered translators in the required language and written undertakings from concerned parties to bear responsibility for the translation.

This legislation, effective from its issuance date, marks a significant step in enhancing the management and legal compliance of certified documents in Qatar.

It highlights the Ministry of Justice’s commitment to maintaining high standards in document handling and ensuring the smooth operation of legal and administrative processes.

It aims to ensure the integrity and compliance of certified documents when dealing with foreign authorities and within the judicial system.

The legislation outlines specific guidelines for the acceptance and deposit of certified documents before foreign authorities.

It mandates that documents must be authenticated by competent authorities in the issuing foreign country and the Ministry of Foreign Affairs in Qatar.

Additionally, documents must adhere to local laws and public morals, with certified Arabic translations required for non-Arabic documents.

Furthermore, the legislation provides a framework for issuing additional executable copies of previously executed documents.

It specifies the conditions under which such copies can be requested, ensuring that applicants have a legitimate interest and that the original document was issued by the administration.

The transfer of original documents to courts or prosecution is also addressed, with strict conditions to prevent unauthorized modifications.

The legislation requires that originals be returned after their intended use, maintaining the integrity of the documents.

Appointed experts reviewing certified documents must meet specific criteria, including registration with the Ministry of Justice and presenting judicial appointment orders.

The review process is to be conducted under the supervision of responsible administration employees.

In cases where translators from outside the Ministry of Justice’s experts’ list are needed, the legislation sets conditions to ensure accountability and accuracy.

This includes the absence of registered translators in the required language and written undertakings from concerned parties to bear responsibility for the translation.

This legislation, effective from its issuance date, marks a significant step in enhancing the management and legal compliance of certified documents in Qatar.

It highlights the Ministry of Justice’s commitment to maintaining high standards in document handling and ensuring the smooth operation of legal and administrative processes.

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Oman: Early Pension Disbursement Announced Following Directives

16/01/202516/01/2025
by Hannah Gutang

The Arabian Stories, 14 January 2025: The Social Protection Fund has announced that an additional pension will be distributed ahead of the usual disbursement date, following the directives of the royal leadership.

This gesture reflects the ongoing commitment to the welfare of the Omani people.

The beneficiaries of this initiative include individuals receiving death pensions, retirement pensions, non-occupational disability pensions, and total occupational disability pensions.

The Social Protection Fund expressed its gratitude for the generosity and dedication to enhancing the quality of life for citizens across the nation.

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Kuwait: Implements New Regulations to Enhance Employee Management and Data Accuracy

16/01/202516/01/2025
by Hannah Gutang

Arab Times, 13 January 2025: The Health Ministry has announced the implementation of updated regulations aimed at improving the management of employees working under the “wage-for-work” system.

This initiative is part of a broader effort to enhance organisational efficiency and update the ministry’s employee database.

The new regulations require all sectors to submit detailed information about authorised personnel who can approve worker lists.

This data, which includes the employee’s name, civil ID number, job title, and official email address, is crucial for ensuring accurate data entry through the electronic form.

Additionally, the regulations mandate the submission of a complete employee data sheet after data entry.

This sheet must be signed and sealed by the employee’s direct manager and department head before being sent via the Injaz program to the office of the Assistant Undersecretary for Administrative Affairs.

The updated rules also stipulate that any internal or external employee transfers will only be allowed following an official decision from the Assistant Undersecretary for Administrative Affairs, contingent upon obtaining the necessary legal and administrative approvals.

Furthermore, all transfer decisions made in 2024, including those already approved, must be reviewed.

This review process will enable the ministry to address deficits and surpluses effectively.

These measures are designed to enhance work systems, ensure a fair distribution of employees based on actual needs, and increase transparency and data accuracy.

The Health Ministry has called on all relevant departments to fully cooperate to ensure the success of these updated procedures and achieve the desired outcomes.

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Dubai: Enacts New Fines for Foreign Banks

16/01/202516/01/2025
by Hannah Gutang

In a significant move to regulate foreign banking operations within the Emirate, the Executive Council has issued Dubai Executive Council Decision No. 101/2024.

This decision, effective immediately upon its publication in the Official Gazette, outlines a comprehensive framework for administrative violations and fines applicable to foreign banks operating in Dubai.

The decision, rooted in the provisions of Dubai Law No. 1/2024 on the taxation of foreign banks, aims to ensure compliance with financial regulations and enhance transparency within the sector.

It stipulates a range of fines for various administrative violations, with penalties escalating for repeated offences.

Key provisions include fines for delays in submitting tax returns and supporting documents, with penalties set at AED 1,000 for each day of delay.

More severe violations, such as submitting falsified documents, incur fines of AED 20,000 per incident.

Additionally, banks failing to report changes in contact information or the suspension of operations face fines of AED 20,000.

The decision also mandates that all fines collected will be directed to the Public Treasury of the Dubai Government, reinforcing the commitment to fiscal responsibility and governance.

This regulatory update underscores Dubai’s dedication to maintaining a robust and compliant financial environment, aligning with international standards and fostering a transparent banking sector.

The decision is part of a broader strategy to enhance the Emirate’s financial regulatory framework, ensuring that foreign banks comply with local laws and contribute positively to Dubai’s economic landscape.

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Bahrain: Recommends Extending Environmental Protection Appeals Period

16/01/202516/01/2025
by Hannah Gutang

The Daily Tribune, 10 January 2025: The House of Representatives’ Public Utilities and Environment Committee has endorsed a legislative proposal aimed at extending the appeal period for administrative decisions under the environmental protection and wildlife conservation law from 30 to 60 days.

The proposal highlights that the current 30-day timeframe may not be adequate for stakeholders to effectively challenge decisions.

Extending the appeal period would allow for a more comprehensive review before initiating legal action.

The proposal also points out that many Bahraini laws already permit a 60-day appeal period for administrative decisions.

For example, Bahrain Law No. 27/2022 concerning biological and toxin weapons allows for a 60-day appeal period following the rejection of an appeal.

While the Ministry of Oil and Environment and the Supreme Council for the Environment have refrained from expressing a governmental stance, the Supreme Judicial Council has stated that it is not within their jurisdiction to provide an opinion at this stage.

The proposed law is set for discussion and voting in the House of Representatives.

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Kuwait: Considers Introducing VAT

15/01/202515/01/2025
by Hannah Gutang

Gulf News, 12 January 2025: Kuwait is weighing the introduction of VAT as GCC nations continue to reform their tax frameworks to diversify revenue sources and align with global standards.

The VAT adoption follows similar measures by other GCC countries, including Saudi Arabia and Bahrain, which have increased their VAT rates to 15% and 10%, respectively.

Qatar and Kuwait are expected to introduce VAT soon, further diversifying income beyond oil revenues.

VAT was introduced across the UAE since 2018 at a standard rate of 5%.

The introduction of VAT represents a pivotal step in the region’s economic transformation, providing governments with additional revenue to reinvest in infrastructure, public services, and sustainable development.

These efforts align with broader global trends as GCC nations modernise their economies and reduce dependence on hydrocarbons.

In addition to VAT, GCC countries are implementing the OECD-endorsed global minimum corporate tax rate of 15%, targeting multinational corporations with revenues exceeding €750 million.

This measure is designed to curb tax avoidance and ensure fair contributions from companies operating in historically low-tax jurisdictions, such as Dubai and Manama.

The UAE has already introduced a 9% corporate tax for businesses with profits above AED 375,000, while maintaining exemptions for small and medium enterprises and tax-free zones to retain its competitive edge.

Kuwait, along with other GCC nations, has implemented the 15% profit tax rate, and Bahrain is set to align with global tax regulations by 2025.

Saudi Arabia and Oman have joined the OECD framework, signaling a unified approach to corporate taxation.

Qatar, maintaining a 10% corporate tax, has indicated plans for future reforms.

Despite these changes, the GCC remains attractive for businesses, owing to its no-income-tax policy.

While Oman has considered a personal income tax for high earners, most GCC nations remain committed to a tax-free income environment.

To enhance compliance and efficiency, the region is embracing digital tax initiatives.

Saudi Arabia and the UAE have introduced e-invoicing systems to reduce fraud and streamline operations for businesses, showcasing their commitment to modernising tax systems.

These reforms aim to strengthen economic resilience, attract investment, and support job creation, positioning the GCC as a hub for sustainable growth and innovation.

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Sharjah: Approves UAE’s First Bill on Natural Resources Corporate Tax

14/01/202514/01/2025
by Hannah Gutang

Khaleej Times, 12 January 2025: Sharjah’s Consultative Council has approved a groundbreaking bill on corporate tax for extractive and non-extractive natural resources, marking a first in the UAE.

This draft law is designed to regulate the taxation of companies involved in the extraction and use of natural resources, covering both mineral extraction and associated activities.

The initiative is part of a broader strategy to enhance Sharjah’s tax system, ensuring effective governance and adherence to regulatory standards.

The legislation aims to create a comprehensive framework for economic activities related to natural resources, thereby boosting public revenues to fund development projects within the emirate.

The decision was made during the council’s seventh meeting at its headquarters in Sharjah, as part of its agenda for the second regular session of the eleventh legislative term.

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Abu Dhabi: New Labour Laws Allow Companies to Hire Remote Workers

10/01/202510/01/2025
by Hannah Gutang

Khaleej Times, 9 January 2025: Abu Dhabi has introduced new employment regulations that empower companies to hire remote workers and offer more flexible working arrangements.

The Registration Authority (RA) of the Abu Dhabi Global Market (ADGM), the international financial centre of Abu Dhabi, has published these new laws to provide greater clarity to employers and employees regarding their rights and obligations.

A significant change in the regulations is the amendment of the definition of an “employee” to include remote and part-time work.

This change reflects the evolving nature of the workforce and aims to accommodate diverse working styles.

The new regulations will come into effect on 1 April 2025, allowing employers ample time to adjust their internal policies, employment contracts, and other employment-related matters to comply with the new requirements.

As per the new law, employers are responsible for providing and maintaining the technical equipment necessary for employees to perform remote work.

This ensures that remote workers have the tools they need to be productive and efficient.

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UAE: Government Issues Federal Decree-Law to Reorganise Civil Defence Authority

10/01/202510/01/2025
by Hannah Gutang

The UAE Government has issued a Federal Decree-Law to reorganise the Civil Defence Authority, aiming to enhance the country’s readiness to respond to emergencies and disasters while ensuring the highest standards of public safety and protection.

This Decree marks a significant step in modernising the national civil protection framework.

The reorganisation focuses on improving coordination between local and federal entities working in civil defence, developing advanced alert and evacuation systems, providing care for affected individuals, and forming specialised teams for relief efforts.

The Decree establishes a new entity named the “Civil Defence Authority”, part of the National Emergency, Crisis, and Disasters Management Authority.

This new body replaces the Civil Defence Department previously operating under the Ministry of Interior.

The Civil Defence Authority is tasked with strategic responsibilities to enhance civil protection and ensure comprehensive readiness to address risks and disasters.

These responsibilities include developing policies, strategies, and regulations related to civil defence in coordination with relevant entities, studying potential risks and incidents, and preparing plans to manage them efficiently.

The Authority is also responsible for creating hazards prevention programmes and establishing safety standards, securing buildings and facilities against fire hazards, and deploying rapid response teams to incident sites to extinguish fires effectively.

The Authority’s duties extend to establishing and equipping specialised risk management centres and public alert systems to warn residents of potential hazards.

It also prepares evacuation plans for residents when necessary and ensures residential and institutional buildings are adequately equipped.

Medical and social care is provided for affected individuals in collaboration with relevant entities.

To further bolster national preparedness, the Authority is tasked with procuring and maintaining equipment essential for civil defence operations.

It also coordinates essential services—medical, social, engineering, administrative, and educational—to ensure continuity during times of disasters.

Additionally, the Authority organises efforts and collaborates with entities that have internal security systems, such as oil companies and airports, to provide support as required.

The Civil Defence Authority is committed to forming specialised teams to carry out response and relief operations in affected areas.

It organises joint training programs for civil defence personnel and volunteers and implements awareness campaigns to educate residents on the necessary actions during emergencies.

The Authority’s responsibilities also include monitoring radiological, chemical, and biological hazards and taking the necessary measures to address them in coordination with relevant authorities.

Furthermore, it enhances cooperation among UAE emirates to establish support centres that improve civil defence services at national and international levels.

The Civil Defence Authority prioritises coordination with entities that maintain internal security and safety systems, such as oil companies and airports, to ensure effective support and assistance when required.

This includes organising methods for providing aid and fostering efficient collaboration during emergencies.

The Civil Defence Authority is tasked with forming specialised teams for response and relief operations in disaster-affected areas.

It organises training programmes and joint simulation exercises for civil defence personnel and volunteers to enhance their readiness for various emergency scenarios.

Additionally, the Authority oversees awareness campaigns to educate residents about necessary precautions and procedures during emergencies.

The Authority requires entities to refrain from issuing any licences for properties or facilities unless they first obtain a certificate verifying compliance with safety and prevention standards.

The Decree establishes a dedicated committee to review compensation claims related to damages caused by civil defence operations, with a grievance mechanism in place.

It also enforces strict penalties, including imprisonment of up to six months or fines of up to AED250,000 for violations of the law or disruptions to civil defence activities.

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