Newsletter Archives - Page 96 of 242 - LexisNexis Middle East

Qatar: Simplified Tax Return Controls Explained

01/06/202301/06/2023
by Tanya Jain

Alsharq, 29 May 2023: The General Tax Authority has announced individuals who are taxpayers and own tax-exempt companies under the ownership of Qatari nationals or nationals of Gulf Cooperation Council member states can personally submit a simplified tax return.

The authority has clarified the taxpayer must be present in Qatar, and the company’s capital should be below 1 million riyals.

Additionally, the company’s revenues must be less than five million riyals.

For the full story, click here.

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Oman: Finalises launch of National Qualifications Framework on May 31

01/06/202301/06/2023
by Tanya Jain

Muscat Daily, 24 May 2023: The Oman Authority for Academic Accreditation and Quality Assurance (OAAAQA) has announced the official launch of the National Qualifications Framework in Oman. The event, scheduled for 31 May, will be held under the patronage of the Secretary General of Oman’s Ministry of Finance.

The framework, mandated by Oman Royal Decree No 9/2021, is aimed at classifying and aligning national qualifications with international standards. It has been developed in consultation with relevant authorities and supports Oman’s economic and educational needs.

The event will also mark the introduction of electronic services related to the framework, including the National Qualifications Register, which aligns with the government’s efforts to digitise services.

For the full story, click here.

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Kuwait: Expat Workers To be Allowed Residency Transfers from Closed Companies

01/06/202301/06/2023
by Tanya Jain

Arab Times, 28 May 2023: Kuwait’s Public Authority for Manpower is developing a plan to allow expatriate workers registered in companies whose files have been closed to transfer their residency to other companies. These files were closed due to a lack of an established procedure.

However, in light of humanitarian circumstances, workers will be permitted to transfer if their files are cleared by July. The transfer process will follow specific regulations, allowing workers to move to valid files with other companies.

Those employed by small and medium enterprises will require a minimum of three years since the issuance of their work permit to be eligible for transfer. The final decision on transfers will be made accordingly.

These measures aim to support expatriate workers affected by company suspensions, prioritising their welfare and individual circumstances.

For the full story, click here.

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Dubai: New System for Licensing and Regulating Buildings Launched

01/06/202301/06/2023
by Tanya Jain

Emaratalyoum, 26 May 2023: Dubai Municipality has introduced a novel electronic system for the licensing and supervision of buildings. This system has been specifically developed to cater to customer needs by reducing the time required for completing procedures and meeting the requirements of the new building code.

The Director-General of Dubai Municipality has highlighted the system incorporates several advantages and advanced digital functionalities aimed at enhancing the customer experience while reducing both time and costs.

Furthermore, the system will offer the utilisation of Building Information Modelling, enabling users to generate 3D templates and digital representations depicting the physical and functional attributes of the buildings.
For the full story, click here.

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Abu Dhabi: Authority for Managing Endowment and Funds of Minors Established

01/06/202301/06/2023
by Tanya Jain

Albayan, 27 May 2023: The Ruler of Abu Dhabi has enacted legislation to establish the Authority for Managing Endowment and Funds of Minors in Abu Dhabi.

The Ruler of Abu Dhabi has enacted legislation to establish the Authority for Managing Endowment and Funds of Minors in Abu Dhabi. The Crown Prince of Abu Dhabi has issued a decree appointing Abdulhamid Mohamed Said as the chairman of this authority.

In collaboration with the General Authority for Islamic Affairs and Endowments, as well as relevant agencies, the newly formed authority will undertake the required measures to assume responsibility for managing endowment affairs. This includes tasks such as counting, overseeing, organising, and regulating endowments, as well as issuing necessary permits for endowment institutions within the Emirate.

For the full story, click here.

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May/June 2023 edition of Lexis Middle East Law Alert Now Out!

26/05/202330/05/2023
by Tanya Jain

Introducing the latest edition of our complimentary law magazine, the Lexis® Middle East – Law Alert! Stay up-to-date on the latest legal, financial, and fiscal developments and hot topics in the MENA region.

In this edition, we examine why amendments to Saudi Arabia’s personal data regime were needed and what might be their impact, recent legal and tax developments, virtual asset regulations, and more.

Feature: What’s Different with Data? Amendments to the Saudi Personal Data Protection Law

Nick O’Connell, Partner, Digital & Data, Al Tamimi & Co explains why amendments to Saudi Arabia’s personal data regime were needed and what might be their impact.

Legal Round-Up: Covering Recent Key Legal Developments (Region-Wide)

Stay up-to-date with the latest legal developments in the region! Our legal round-up includes all the essential news so that you can stay well-informed.

Tax and Finance Round-Up: Covering Recent Key Tax and Finance Developments (Region-Wide)

Stay up-to-date on the key developments from the region and never miss out on the latest happenings.

Feature: Nothing to Hide – The Qatari Anti-concealment Law

Omar Qouteshat of Sultan Al Abdulla & Partners explains results the impact the Qatar Anti-Concealment Law can have when non-Qataris are engaged in commercial activities there.

In-House Profile: Talent and Energy

Elizabeth Dunne Chandler Legal and Commercial Director – Middle East, UK and Europe NES Fircroft explains how the switch to renewable energy is impacting her work and making cross-border employment legislation more important.

Practitioner Perspective:

Thomas Wigley of Trowers and Hamlin looks at the practicalities of bringing foreigner experts into Oman. And sheds light on the implementation of Oman Sultani Decree No. 35/2003 On the Promulgation of the Labour Law provides the framework for private sector employment in Oman.

Movers & Shakers: A Round-Up of the Top Appointments and Promotions

Check out our latest round-up of the top movers and shakers from the world of legal appointments and promotions, brought to you by Jameson Legal. Who’s been promoted, who’s been appointed and who’s moving on? Find out now!

Dispute Resolution Focus: Cases and Updates

Hashem AlAidarous, Partner at Al Aidarous, qualified in three jurisdictions, explains
the differences between dispute resolution in the UAE, the US and Australia.

Contract Watch: Is It Asymmetric?

Aleefa Ahmed, from Associate Afridi & Angell, explains asymmetric jurisdiction clauses (or unilateral option clauses) for parties bringing their proceedings in front of a jurisdiction and what options are available for them.

Thanks to Jameson Legal for supporting individuals and businesses, and Al Aidarous for keeping us updated on dispute resolution cases.

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Lexis Middle East Law Alert May-June 2023

Lexis Middle East Law Alert January-February 2023

Explore the past editions of the Lexis® Middle East Law Alert and stay up-to-date with the latest news! Click the links below for instant access to older editions.

Lexis Middle East Law Alert October-November 2022

Lexis Middle East Law Alert_July-August 2022

UAE: Finance Ministry Issues Regulatory Decisions

26/05/202326/05/2023
by Tanya Jain

Emaratalyoum, 23 May 2023: The Ministry of Finance in the UAE has released three regulatory decisions in line with Federal Decree-Law No. 47/2022 On the Taxation of Corporations and Businesses.

These decisions include Ministerial Decision No. 114/2023 on Accounting Standards and Methods, Ministerial Decision No. 115/2023 on the Fund for Pensions and Social Insurance, and Decision No. 116/2023 on exemptions from participation.

The Undersecretary of the Finance Ministry has stated the purpose of these three decisions is to enhance the flexibility of the Companies Tax system in the country and create a supportive environment for businesses.

Regarding the Pensions and Social Insurance Fund, specific conditions need to be fulfilled by the funds in order to qualify for exemption from this tax.

For the full story, click here.

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Saudi Arabia: Health Professional Classification and Registration Draft Regulation Published for Consultation

26/05/202326/05/2023
by Tanya Jain

Alwatan, 23 May 2023: The Saudi Commission for Health Specialties has released a draft update for the Health Professional Classification and Registration on the National Centre for Competition platform.

The Commission’s objective is to engage both the private and public sectors by seeking their input to enhance the experience and expertise of its members.

The draft aims to revise the existing list and its accompanying rules, which were initially published in 1438 Hijri. It also seeks to clarify the criteria and prerequisites for professional classification and registration in alignment with the authority’s strategy to enhance standards.

For the full story, click here.

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Qatar: Central Bank Reduces Certain Commissions

26/05/202326/05/2023
by Tanya Jain

Mubasher, 21 May 2023: The Qatar Central Bank has announced it is reducing and unifying commissions paid by merchants to collecting banks to encourage businesses to use electronic payments using cards.

The commission for micro businesses and petrol stations through the local direct deduction card will be 0.5% with a maximum of 50 riyals for each service. Other businesses will have to pay 1.1% with a maximum of 110 riyals.

The use of the Himyan National Card by micro businesses and petrol stations will result in a 0.5% commission while other businesses will have to pay 0.85% for using this card.

For the full story, click here.

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Oman: Biometrics Law Under Discussion

26/05/202326/05/2023
by Tanya Jain

Alwatan, 21 May 2023: The State Council and Shura Joint Committee has held a meeting to discuss the articles in the Biometrics Law which has been referred to the Council of Ministers which are currently causing a dispute between the two councils.

Currently there is agreement on some of the articles in the law but some others are still being disputed.

Dr Rashed Bin Salem Albadi, the chairman of the Legal Committee at the State Council, stated that the joint committee has discussed 12 articles and 5 new articles which were added by the State Council.

For the full story, click here.

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