KSA Archives - Page 40 of 45 - LexisNexis Middle East

Weekly Spotlight: Saudi Arabia Launches the “Najiz” Online Portal

28/04/201911/12/2019
by Benjamin Filaferro

The Saudi Justice Minister Dr. Walid Al-Samaani has launched the ‘Najiz’ online portal which will cover 177 first instance courts in all regions of the Kingdom.

The portal is part of efforts to unify judicial proceedings, enable digital transformation to the judiciary and speed up the litigation process. It was set after restructuring of procedures were adopted in all Saudi courts and a new judicial procedure system document was issued and digitized.

The portal is being considered a step towards a full digital transformation in all sectors. A service called ‘appeal without transcript’ has been introduced which enables first instance courts to send a case file to the court of appeal electronically in just a few minutes, and automatically receive the court’s reply. Task forces have also been formed to carry out the proceedings of the courts and compare them to legal proceedings, criminal court proceedings and related regulations, and proceedings in other countries.

The portal will be rolled out in four stages, and there will further updates to facilitate services.

News developments

Saudi Arabia: New Investment Bank for SMEs to be Established

08/04/201911/12/2019
by Benjamin Filaferro

Saudi Arabia’s Trade and Investment Minister has announced a new bank for Small and Medium Enterprises will be established. The Minister confirmed permission to open the bank has been issued and relevant bodies will have to cooperate with the International Bank to prepare the necessary study. He added the law for Competition and Procurement are being finalised and will empower SMEs.

Weekly Spotlight

Weekly Spotlight: Saudi Arabia Has Issued New Zakat Regulations

24/03/201911/12/2019
by Benjamin Filaferro

Saudi Arabia’s General Authority for Zakat and Tax has issued the updated Zakat Regulations in Arabic.

The Regulations are subject to certain exceptions, effective for financial years beginning on or after 1 January 2019 and supersede the provisions of all the previous Regulations and any conflicting circulars, instructions and Decisions.

The key changes include, amongst other things, new rules on how finance activities will be treated for Zakat purposes and a change to the Zakat rate applicable to the Zakat base. A permanent establishment of a non-resident Saudi or GCC national will be treated as a Zakat payer subject to a certain condition being met.

News developments

Saudi Arabia: Transfer Pricing Guidelines Published

24/03/201911/12/2019
by Benjamin Filaferro

Saudi Arabia’s General Authority for Zakat and Tax has issued guidelines on transfer pricing in Arabic and English. They cover the basic concept of transfer pricing and arm’s length principle. The Authority provides specific guidance on financial transactions, intangibles and business restructuring. The guidelines also provide guidance on selection of transfer pricing method, transfer pricing documentation, valuation, transfer pricing adjustments and details on audits.

News developments

KSA: Update on Online Registration Process for Employment Contracts

09/03/201911/12/2019
by Benjamin Filaferro

Saudi Arabia’s Labour and Social Development Ministry (MLSD) has issued a draft Decision on the mandatory requirement for private sector employers to upload their entire workforce’s employment contracts to the General Organisation for Social Insurance’s (GOSI) electronic portal. The draft law has been sent for public consultation and is expected to come into effect in the next couple of weeks. Depending on the total number of workers, companies will have to upload contracts for a specific portion of their headcount within deadlines set out in the Ministerial Decision. The uploading process must be completed for the whole workforce by the end of 2019.

News developments

Saudi Arabia: New Anti-Corruption Office Launched

09/02/201911/12/2019
by Benjamin Filaferro

Saudi Arabia has launched a new anti-corruption office to monitor state spending as part of its ongoing anti-corruption fight. The Financial Reporting Office will be part of the state General Auditing Bureau. It follows the end of an anti-corruption drive which raised more than $100 billion and saw tens of people arrested.

News developments

Saudi Arabia: New Anti-terrorist Law Now Effective

02/02/201911/12/2019
by Benjamin Filaferro

According to local newspaper reports, Saudi Arabia has promulgated a new law to tackle terrorism and terrorist funding. The new law which is now in effect aims to protect the Kingdom from terrorist attacks and maintain national security. It also clamps down on the use of charities and non-profit institutions as facades to cover the funding of terrorist activities. Under the Law, prosecutors will be able to request records or documents from suspicious institutions and compel charities to implement provisions of the law.

News developments

Saudi Arabia: National Labour Committee Approved

26/01/201911/12/2019
by Benjamin Filaferro

Saudi Arabia’s Labour and Social Development Minister has issued a Decision approving the establishment of a coordination committee for labour committee. It will be called the national committee for labour committees in Saudi Arabia. The chairmen of labour committees will be members of this committee which will be responsible for representing the Kingdom internationally as well as conducting the necessary studies to activate its role, introduce itself to the private sector and draft the regulatory charter for its elections and meetings systems.

News developments

Saudi Arabia: Labour Courts Issue Rulings in Absentia

21/01/201911/12/2019
by Benjamin Filaferro

Judicial sources in Saudi Arabia have confirmed the labour courts which were established a couple of months ago have issued a number of rulings in absentia against companies who don’t turn up to court hearings. The sources said these companies failed to turn up to hearings even though they have been property notified electronically. Most of the rulings issued in absentia cannot be appealed because they are related to small cases worth less than 20,000 Riyals. The source added these cases would previously have been postponed if the company didn’t attend the hearing. Cases which are subject to this procedure include requests for certificates of services, requests for documents and records related to labourers and held by an employer. They also include objections against decisions issued by residential service committees and complaints against employers and employees against decisions issued by social security institutions.

News developments

Saudi Arabia: Supervisory Health Council to be Established

12/01/201911/12/2019
by Benjamin Filaferro

Saudi Arabia’s Shoura Council has approved an amendment to Article 16(A) of the Health Law following recommendations from the health committee. Under the amendment, a health council will be established and linked to the president of the council of ministers. The Council’s chairman will be of Minister grade and appointed by a Royal Decree. Members of the council will include a representative of the Health Ministry and representatives from health services from other relevant ministries. The aim is to boost the council’s independence and enable it to exercise its supervisory and regulatory roles.