LexisNexis Middle East

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.

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News developments

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.

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News developments

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.

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News developments

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.

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News developments

UAE: Pension Insurance Continues with Change of Employer

04/05/202304/05/2023
by Benjamin Filaferro

Emaratalyoum, 2 May 2023: The General Pension and Social Security Authority has launched the “Shorek” project, which aims to provide continuous service to insured individuals in case of changing employers without additional costs.

It is the first transformative project of the Authority and will allow individuals entitled to end-of-service rewards to consider their service continuous and connected with subsequent service without incurring additional costs.

The project applies to citizens working in both public and private sectors and will be effective from 1 July 2023.

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News developments

Saudi Arabia: Rules for Practicing Customs Clearance Profession Adopted

04/05/202304/05/2023
by Benjamin Filaferro

Okaz, 2 May 2023: The Governor of Saudi Arabia’s Zakat, Tax and Customs Authority has approved new rules for practicing the profession of customs clearance for the year 1444Hijri, replacing the previous guide issued on 20/6/1439Hijri.

The rules aim to document procedures and requirements related to the profession, define customs business stages for goods passing through ports, and classify activities with necessary conditions to carry out each activity.

The rules also specify license issuance and renewal for a duration of three years.

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News developments

Kuwait: MoE Pays out 15million Dinars as vacation allowance for its 3,715 Employees

04/05/202304/05/2023
by Benjamin Filaferro

Arab Times, 2 May 2023: The Kuwaiti Ministry of Education has paid approximately 15 million dinars in vacation allowances to its employees, including 3,715 Kuwaiti and non-Kuwaiti workers.

According to sources, the Ministry of Education has allocated 25 million dinars for cash payments for transactions which were issued from 1 April 2022 until the end of March of 2023.

In addition, the Minister of Education has issued a decision to stop the enrollment of Kuwaiti students in all undergraduate and postgraduate programs at Purdue University – Calumet and Purdue University – North Central in the United States of America.

The decision does not apply to those already enrolled before the issuance of the decision, as well as those admitted for the second semester of academic year 2022/2023.

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News developments

Abu Dhabi: Legal Frameworks Discussed to Protect Environment, Combat Climate Change

04/05/202304/05/2023
by Benjamin Filaferro

2 May 2023: According to the UAE’s press agency, the Abu Dhabi Judicial Department organised a series of seminars and workshops aimed at discussing national and international legal frameworks for human rights in protecting and sustaining the environment and addressing the risks of climate change.

The event aligns with the UAE’s strategic directions in the Year of Sustainability 2023 and is in preparation for hosting the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP28).

The participants discussed the state’s efforts to promote human rights in climate action, the role of individuals, the state, and judicial institutions in confronting climate change and its effects.

They also discussed the legal, judicial, and administrative framework for environmental auditing of institutions to monitor phenomena and assess the impact of protecting, developing, and sustaining the ecosystem of projects and preserving biodiversity as tools for environmental protection.

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News developments

Qatar: Cabinet Approves Draft Qatar National Youth Policy

04/05/202304/05/2023
by Benjamin Filaferro

The Peninsula, 3 May 2023: Qatar’s Cabinet in Doha has approved a draft Qatar National Youth Policy prepared by the Ministry of Sports and Youth with the participation of government and private agencies, youth committees and centers.

The policy is in line with the leadership’s vision of building the Qatari individual and enhancing youth participation in economic, social and political fields.

The Cabinet has also approved amendments to building control laws, a memorandum of understanding on cooperation between Qatar and Turkmenistan, and an agreement between Qatar and Poland for cooperation in higher education and science.

It has reviewed and made a decision on the Shura Council’s proposal for promoting national values and identity in society.

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News developments

Saudi Arabia: Deadline for Value Added Tax Returns Announced

27/04/202327/04/2023
by Benjamin Filaferro

Almadina, 19 April 2023: The Zakat, Tax and Customs Authority has requested businesses subject to value-added tax, with annual supplies of goods and services exceeding 40 million riyals, submit their tax returns for the month of March and the first quarter of 2023 no later than 30 April 2023.

Taxpayers from the business sector are urged to submit their tax returns promptly through the zatca.gov.sa website or the Authority’s ZATCA smartphone application and make payment accordingly.

Failure to submit a declaration within the given timeframe may result in a minimum fine of 5 per cent and a maximum of 25 per cent of the tax value the taxpayer was required to declare.

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