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The Lexis® Middle East Gulf Tax – Autumn 2022 edition is out now! News developments

The Lexis® Middle East Gulf Tax – Autumn 2022 edition is out now!

  • 12/09/202213/09/2022
  • by Benjamin Filaferro

We are pleased to share the latest edition of our tax magazine, Lexis® Middle East Gulf Tax, the first of its kind in the GCC! It is a complimentary magazine that provides updates on the GCC’s recent key tax and financial developments. In this edition:

Crypto Tax

The UAE has taken significant steps to develop a regulatory framework for cryptocurrency and virtual assets. Milos Krstic of Rain and Thomas Vanhee of Aurifer Middle East Tax look at how the UAE tax regime in this area may operate.

No Escape?

Mohamed ElBaghdady of Habib Al Mulla & Partners – a member firm of Baker & McKenzie International, Anas Salhieh of MMJS Consulting and George Campbell of Keypoint explain the different approaches tax authorities are taking in Saudi Arabia, the UAE and Bahrain to tackle tax evasion.

Practical Focus on Customs Duty and e-Commerce in the UAE and Saudi Arabia

Practical points in an article based on a Practice Note by Dr Atia Hussain of the University of Sharjah.

Tax-i, please

Halil Erdem of Careem talks about the need for GCC harmonisation in various areas of tax, one being e-invoicing. Sanjeev Fernandez of EY MENA talks about e-invoicing developments in Saudi Arabia and the region.

What do I do if VAT rates change?

As Saudi Arabia and Bahrain have increased VAT rates, and further changes could be coming in Saudi, what steps should taxpayers take to mitigate the impact of such changes? Gaurav Kapoor and Kanval Ashar of PwC Oman answer these questions and more!

Special thanks to Alchemy Search for supporting tax professionals by connecting businesses with talent across the GCC and beyond!

Want to receive future editions? Subscribe here!

Want to learn more about Lexis® Middle East? Visit, https://www.lexis.ae/lexis-middle-east-law/.

Lexis® Middle East Gulf Tax | Autumn 2022

Have you read the Lexis® Middle East Gulf Tax – Summer 2022 edition? Click the link below to access and read this edition.

Lexis® Middle East Gulf Tax | Summer 2022

Kuwait News developments

Kuwait: New Residency Law Expected After Election

  • 05/09/202205/09/2022
  • by Benjamin Filaferro

Kuwait Times, 5 September 2022: A new residency law will be submitted by the government to the National Assembly after the elections to address the demographic structure, reduce expatriate numbers, localise jobs, increase Kuwaitisation in the private sector and reform the economy.

The laws that the government submitted to the previous National Assembly will be raised again to the new Assembly with a few changes requested by earlier parliament members and some of the candidates who have been running in the elections.

The proposed new law bans sponsors from bringing in expatriate workers without permission from the Public Authority of Manpower. It has also been saying the minister should issue a decision on the procedures, documents and fees required from the sponsor. Anyone who illegally employs workers or runaways will be subject to heavy fines ranging from 5,000 Dinars to a maximum of 50,000 Dinars and paying all costs related to deporting the workers. In repeated offences, the violations will be referred to the public prosecution.

The proposed law also prohibits sponsors contracted for government projects from submitting to competent authorities a request to recruit workers from outside the country or recruit more workers than required, which should help stop the trade in iqamas.

To reduce expatriate workers who are not required, all sponsors must pay a deposit of 500 Dinars for every worker they sponsor to ensure they are employed. Salaries are paid until the end of their service, following procedures on health insurance and the costs of sending the workers back to their countries.

To view more news items and other content we have available, visit lexis.ae/demo to book a demo and start your free trial of Lexis® Middle East.

Want to learn more about Lexis® Middle East? Visit, https://www.lexis.ae/lexis-middle-east-law/.

Kuwait News developments

Kuwait: New Food Delivery Driver Regulations Approved

  • 22/08/202222/08/2022
  • by Benjamin Filaferro

Kuwait Times, 18 August 2022: The Kuwaiti authorities have approved new food delivery driver regulations.

Among other things, they specify the driver must have a health certificate from the Ministry of Health, and a sticker representing the company must be placed on the delivery vehicle.

In addition, the deliveryman’s iqama must be for the same company he works for, and a unified uniform must be assigned to all drivers.

All relevant companies will have to comply with the regulations by 1 October.

To view more news items and other content we have available, visit lexis.ae/demo to book a demo and start your free trial of Lexis® Middle East.

Want to learn more about Lexis® Middle East? Visit, https://www.lexis.ae/lexis-middle-east-law/.

Kuwait News developments

Kuwait: Private Pharmacies Regulations Amended

  • 19/08/202222/08/2022
  • by Benjamin Filaferro

Alanba, 17 August 2022: Kuwait’s Minister of Health has issued two Decisions to control and correct the work of private pharmacies.

Under the first decision, Article 18 of Kuwait Ministerial Decision No. 395/1997 issuing the Implementing Regulations to Kuwait Law No. 28/1996 has been amended.

Under the amendment, the pharmacy management will be limited to Kuwaiti pharmacists who are licensed to practice the profession and are granted a licence to open a pharmacy.

Pharmacies will be given three months to comply.

Under the second Decision, consideration of applications for granting licences to new pharmacies in the private sector and the request to grant a licence to practice the profession of pharmacy to non-Kuwaitis will be suspended until the completion of a relevant study.

For full story, click here.

To view more news items and other content we have available, visit lexis.ae/demo to book a demo and start your free trial of Lexis® Middle East.

Want to learn more about Lexis® Middle East? Visit, https://www.lexis.ae/lexis-middle-east-law/.

Kuwait: Law on Appointments in Oil Sector Amended News developments

Kuwait: Law on Appointments in Oil Sector Amended

  • 07/07/202207/07/2022
  • by Benjamin Filaferro

Alanba, 4 July 2022: Kuwait’s Human Resources Development Committee has approved a proposal from a Kuwaiti MP to amend the law of appointment of graduates in the Oil Sector by dividing the employment process into two parts.

The first part will be an accumulative process where candidates are accepted by adding up the highest mark from the personal interview, the language exam, the university average and the intelligence test.

The second part will involve a two month training session with weekly tests and the candidate must pass the exam with at least 70%.

The aim of the proposal is to achieve fairness, equal opportunities and save time in qualifying competent engineers.

For full story, click here.

To view more news items and other content we have available, visit lexis.ae/demo to book a demo and start your free trial of Lexis® Middle East.

Want to learn more about Lexis® Middle East? Visit, https://www.lexis.ae/lexis-middle-east-law/.

Out Now! MENA Business Law Review No. 02/2022 News developments

Out Now! MENA Business Law Review No. 02/2022

  • 04/07/202205/07/2022
  • by Benjamin Filaferro

The MENA Business Law Review No. 02/2022 is brought to you by LexisNexis Middle East and features articles in Arabic, English, and French. In this issue of the MENA Business Law Review:

  • FIFA World Cup Qatar 2022: Legislative Developments, by Khadeja Al-Zarraa of Al-Ansari & Associates
  • The UAE’s New Corporate Tax Regime, by Mourad Chatar of Value Square and Ilias Paraskevopoulos
  • [Arabic] Highlights of Buy-Back Contracts (Repo Agreement): A Comparative Study, by Dr. Zain Al Abdin Sharar of QICDRC
  • A New Era: English Language Litigation in the Kingdom of Bahrain, by Jodie Martyndale-Howard of Charles Russell Speechlys
  • Fully Booked: A Return to Form for the Middle East Hospitality Sector, by Llowri Lwydd and Oliver Stevens of Addleshaw Goddard
  • [French] Affaire Bank Melli Iran versus Telekom Deutschland GmbH, by Maryam Sodayreh
  • Legislative Insight: Oman’s Crowdfunding Regulations, by Maria Mariam Rabeaa Petrou and Alaa Al Hinai of SASLO
  • Case Comment by David Russell QC of Outer Temple Chambers: The Industrial Group Ltd v. Abdelazim El Shikh El Fadil Hamid

Get your copy here!
Kuwait: Expatriates to be Banned from Health Clinics News developments

Kuwait: Expatriates to be Banned from Health Clinics

  • 28/06/202228/06/2022
  • by Benjamin Filaferro

Kuwait Times, 26 June 2022: Kuwait’s Health Minister has announced they are implementing a plan to ban expatriates from public hospitals, polyclinics and health centres.

The ban will apply to entities in the private sector.

Public hospitals will only be open to citizens.

The ban is being imposed to address a supply and demand issue.

To view more news items and other content we have available, visit lexis.ae/demo to book a demo and start your free trial of Lexis® Middle East.

Want to learn more about Lexis® Middle East? Visit, https://www.lexis.ae/lexis-middle-east-law/.

kuwait-smoking-to-be-banned-in-enclosed-and-semi-enclosed-places News developments

Kuwait: Smoking to Be Banned in Enclosed and Semi-Enclosed Places

  • 27/06/202227/06/2022
  • by Benjamin Filaferro

Alqabas, 22 June 2022: The Legal and Financial Committee of the Municipal Council has recommended approving a ban on smoking in enclosed and semi-enclosed places, but allowing it in places designated for that in accordance with the requirements and controls contained in the Environment and Family Law.

The committee has decided to refer the draft controls and rules for naming cities, suburbs, regions, roads, streets and squares to the executive body and the legal department to express an opinion.

To view more news items and other content we have available, visit lexis.ae/demo to book a demo and start your free trial of Lexis® Middle East.

Want to learn more about Lexis® Middle East? Visit, https://www.lexis.ae/lexis-middle-east-law/.

Kuwait: Foreigners Residency Law Amendments to be voted on News developments

Kuwait: Foreigners Residency Law Amendments to be voted on

  • 30/05/202230/05/2022
  • by Benjamin Filaferro

Arabian Business, 27 May 2022: Kuwait’s Parliament is going to vote on Foreigners Residency Law amendments.

Those who own real estate in Kuwait could be offered 10-year visas, if the proposed changes are approved.

Expatriates and foreign investors in the country could also soon be granted long-term residency visas in the country.

The maximum residency period for expatriates working in the country could be increased to five years. Once the residency period expires, they will either have to leave the country or renew their residency application.

The residency visa for foreign investors is likely to be extended to 15 years.

Children whose mother is a Kuwaiti national and is married to a non-Kuwaiti could also be offered the 10-year visa.

The duration of the family visit visa is likely to be increased from three months to a year also.

Those who overstay residency permits and visit visas will be fined four instead of two Dinars a day.

Sponsors or employers would have to pay the costs of deporting expatriate workers.

Finally, the Interior Ministry will continue to be responsible for deporting expatriate workers for the public good, to maintain national security and for moral reasons.

To view more news items and other content we have available, visit lexis.ae/demo to book a demo and start your free trial of Lexis® Middle East.

Want to learn more about Lexis® Middle East? Visit, https://www.lexis.ae/lexis-middle-east-law/.

Kuwait: Banks Must Disclose Records of Specific Individuals and Institutions News developments

Kuwait: Banks Must Disclose Records of Specific Individuals and Institutions

  • 28/04/202228/04/2022
  • by Benjamin Filaferro

Arab Times, 26 April 2022: Kuwait’s Central Bank has issued a Circular requiring some local banks to disclose records of specific individuals and institutions.

They relate to several accounts belonging to a marine equipment company.

They also relate to financial records of seven citizens going back eight years.

The Central Bank has issued the request following a request from the Public Funds Prosecution and Anti-Money Laundering.

The country’s Public Prosecution must be provided with all of the relevant information about the company accounts and the seven individuals for 1 January 2014 to 1 January 2021.

To view more news items and other content we have available, visit lexis.ae/demo to book a demo and start your free trial of Lexis® Middle East.

Want to learn more about Lexis® Middle East? Visit, https://www.lexis.ae/lexis-middle-east-law/.

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