Saudi Arabia Archives - Page 20 of 33 - LexisNexis Middle East

Saudi Arabia: Foreign Trucks Must Provide Electronic Shipping Documents

06/04/202306/04/2023
by Benjamin Filaferro

Aleqtisadiya, 2 April 2023: The Public Transport Authority has announced the start of applying the electronic “Naql” document to all foreign trucks destined for the Kingdom.

The aim is to support the national carriers, ensuring fair competition, creating an environment to attract investments, and contributing to raising the level of safety and security for goods transport services.

The authority has added that the transportation document, is issued through the electronic portal through the “cargo documentation” service, and includes data of the sender and consignee, shipment information, the schedule of movables, as well as flight details, tracks and carrier data which are considered basic requirements for non-Saudi trucks to enter the Kingdom.

In addition, the Public Transport Authority has announced the conditions for using double-trailer trucks in the Kingdom, which are shipping trucks that pull a trailer or half a trailer to transport goods on lands and specific paths.

The requirements include that the establishment must have a valid license from the Public Transport Authority to carry out transporting goods on the roads, the truck must have a valid operating licence, and the driver needs a professional driver’s identity and a category one driver’s license of the appropriate category.

For the 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/.

News developments

New Release: March/April 2023 Edition of Lexis® Middle East Law Alert

30/03/202330/03/2023
by Benjamin Filaferro

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:

In Good Company? The New Saudi Company Law Regime

A new company law regime was implemented in Saudi Arabia on January 18th, 2023. Companies have a grace period of two years, but they must still consider this new regime and upcoming regulations set to take effect in 2024 to determine necessary actions and timelines, according to Alan Sfeir and Shahd Makhafad from Clyde & Co.

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)

Get the latest news and insights on regional tax and finance developments with our latest round-up, supported by Aurifer Middle East Tax! Stay up-to-date on the key developments from the region and never miss out on the latest happenings.

But Who Benefits? Omani Changes on Ultimate Beneficial Owner Reporting

New requirements to identify Ultimate Beneficial Owners of companies in Oman are now in force to support the anti-money laundering and counter terrorist financing regime. Abdullah Hassan Khan and Ali Naveed Arshad from Mohammed Al Ruquaishi Law Firm provide insight into the impact on companies in Oman.

In-House Profile: Property

Haytham Alieh, Vice President of Litigation at Damac Group works for a business with property and construction at its heart, but it is technological law changes he is most eager to see being adopted following the UAE’s pioneering work in this area.

Practitioner Perspective: Virtual Asset and Related Activities Regulations

In a bid to support technological advancements, UAE legislators have been introducing pioneering laws and regulations. Ayesha Karim sheds light on how the Virtual Asset and Related Activities Regulations, which were recently issued, are promoting the implementation of Dubai Law No. 4/2022 and supporting the growth of this emerging sector.

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

Waleed Hamad, Head of Litigation at Al Aidarous, shares his insights on past cases and provides valuable advice to those considering initiating a dispute. We thank Al Aidarous for their support and for keeping us informed of the latest developments in dispute resolution.

Dispute Resolution Focus: Court Changes

Hashem AlAidarous from Al Aidarous highlights two significant recent developments in the UAE court system, which include the introduction of bilingual courts and the establishment of expert chambers in Abu Dhabi courts.

Contract Watch: Cloud Services

Nick O’Connell, Saudi Head of Digital & Data at Al Tamimi & Company, explains Saudi Arabia’s mandatory contractual requirements for cloud computing service agreements, which apply to subscribers in the country.

Thanks to Aurifer Middle East Tax for their valuable insights into regional tax developments. We also thank Jameson Legal for supporting individuals and businesses, and Al Aidarous for keeping us updated on dispute resolution cases.

Want to receive more content? Subscribe to our newsletter here!

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

Lexis Middle East Law Alert March-April 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 January-February 2023

Lexis Middle East Law Alert October-November 2022

Lexis Middle East Law Alert_July-August 2022

News developments

Saudi Arabia: Arabic Language Must be Used by Government Departments

30/03/202330/03/2023
by Benjamin Filaferro

Okaz, 22 March 2023: Saudi Arabia’s Shura Council has given its approval for the Saudi Arabia Enhancing Arabic Language Use Law, which seeks to bolster the use of the Arabic language by urging both governmental and non-governmental entities to use it.

While there will be provisions to permit the use of other languages when necessary, the focus will be on using Arabic to reinforce Arab identity.

Additionally, the law is intended to address the legal void created by the absence of legislation which promotes the use of the Arabic language.

For the 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/.

News developments

Saudi Arabia: Commercial Registry Translation Service Transferred

23/03/202323/03/2023
by Benjamin Filaferro

Almadina, 15 March 2023: The Saudi Trade Ministry has announced the commercial registry translation service has been transferred to the Saudi Centre for Business and has been renamed the “Printing Record in English Language.”

The service is now instant and free of charge, with the Ministry no longer charging the previous 100 riyals fee.

The Business Platform and physical branches of the Centre offer services from various authorities concerned with business, including the Trade Ministry, Investment Ministry, Human Resources and Social Development, Municipal, Rural and Housing Affairs Ministry, Zakat, Tax, and Customs Authority, the General Organization for Social Insurance, and the Saudi Chambers Federation.

For the 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/.

News developments

Saudi Arabia: Initiatives to Support Private Sector Launched

16/03/202316/03/2023
by Benjamin Filaferro

Alarabiya, 14 March 2023: The Public Investment Fund of Saudi Arabia has launched three initiatives to support local private sector companies, including a program called “Musahama” aimed at increasing local content participation to 60 per cent by the end of 2025.

The fund is also working with its affiliated companies to improve procurement practices to increase local content.

The second initiative is a supplier development program which supports the skills of local suppliers to meet the increasing demands of the fund and its companies.

For the 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/.

News developments

Get Ready to Level Up Your Tax Game with the Exciting New Spring 2023 Edition of Lexis® Middle East Gulf Tax!

15/03/202315/03/2023
by Benjamin Filaferro

We’re thrilled to announce the latest edition of Lexis® Middle East Gulf Tax, the very first of its kind in the GCC! Our complimentary magazine offers insightful updates on the latest tax and financial developments across the GCC region.

In this edition:

Points of Law: What do we know now about how the new UAE Corporate Income Tax regime will operate?

Nearly one year after the UAE first announced its intention to introduce corporate income tax, the Federal Decree-Law No. 47/2022 On the Taxation of Corporations and Businesses has been published. Thomas Vanhee from Aurifer Middle East Tax provides an explanation of what we can expect from the new tax system.

The more the merrier? What are the advantages and disadvantages of creating a tax group in the UAE Corporate Income Tax context?

The UAE’s Federal Decree-Law No. 47/2022 On the Taxation of Corporations and Businesses permits UAE companies to establish tax groups. Laurent Bertin, Regional Head of Tax at Airbus Africa and Middle East, clarifies that this can simplify tax management, but it’s crucial to have a thorough understanding of tax groups as they are complex mechanisms.

Tax News Round-Up

Stay informed about the latest updates in tax treaties and regulations throughout the region. This includes a regulatory round-up of recent changes and information on tax treaties.

Practical Focus on Tax residency in the UAE

Zain Satardien of Hourani & Partners in Dubai discusses the importance of Cabinet Decision No. 85/2022 on Tax Domicile in the UAE, which clarifies the criteria for tax residency for individuals and legal entities in the country. Zain’s Practice Note covers rules for determining tax residency, corporate taxability, and the FTA’s authority to request information.

Tax Professional Profile: Working Where Tax Is New

Laurent Bertin, Regional Head of Tax at Airbus Africa and Middle East, elaborates on the difficulties of operating in jurisdictions where the tax landscape is still developing.

Practitioner Perspective on Significant UAE VAT Law Changes

Tyne Hugo and John Peacock of BSA Ahmad Bin Hezeem & Associates summarise recent changes to the UAE VAT Law, including new definitions, a provision for more flexibility, clarification on tax invoices, and changes to tax audits. They also mention a temporary amendment to the definition of “Goods” and administrative changes impacting UAE VAT payers, such as the new Emara-Tax system.

Do They Have Income Tax in Oman?

Shiraz Khan of Al Tamimi & Company provides insight into the current status of Oman’s proposed implementation of Personal Income Tax (PIT).

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_Spring 2023

Have you read the Lexis® Middle East Gulf Tax – 2022 editions? Click the links below to access and read these editions.

Lexis Middle East Gulf Tax | Winter 2022

Lexis-Middle-East-Gulf-Tax_| Autumn 2022

Lexis® Middle East Gulf Tax | Summer 2022

News developments

Saudi Arabia: Health and Justice Ministries Sign Memorandum of Understanding

09/03/202309/03/2023
by Benjamin Filaferro

5 March 2023: According to the Saudi Press Agency, Saudi Arabia’s Health Ministry and Justice Ministry have signed a memorandum of understanding to implement reconciliation in cases related to medical errors and associated complaints, before they are referred to the judiciary.

This decision comes after the jurisdiction for considering medical mistake claims was transferred from the Health Ministry to the Justice Ministry.

The goal of the transfer is to improve patient safety and protect their rights.

This initiative also aligns with the establishment of the Patient Safety Centre and the expansion of insurance coverage for medical errors.

For the 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/.

News developments

Saudi Arabia: White Land Fees System to be Amended

02/03/202302/03/2023
by Benjamin Filaferro

Okaz, 26 February 2023: Saudi Arabia’s Municipality, Rural, and Housing Affairs Ministry will amend the Saudi Arabia White Land Fees System and its executive charter to encompass residential and commercial uses.

The amendments will also introduce a fee of 2.5% of the land’s value.

The committee established based on Article 14 of the Saudi Arabia White Land Fees System it may levy fees of up to 10% of the estimated land value within certain limits and according to criteria to be established by the ministry, including the land’s location, intended use, building system, utilities, and population density.

Landlords of land subject to the fees must provide the ministry with the documents and information related to their properties within a timeframe set by the ministry, not exceeding three months from the date of the announcement.

For the 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/.

News developments

Saudi Arabia: Building Code Implementation System Executive Regulations Approved

23/02/202323/02/2023
by Benjamin Filaferro

Alarabiya, 18 February 2023: Saudi Arabia’s Trade Minister has approved amendments to the executive regulations of the Building Code’s implementation system.

The amendments aim to establish minimal requirements and conditions which ensure the public’s health and safety by guaranteeing the stability of buildings.

They also aim to ration water and energy and protect lives and properties against fire, earthquakes, and other dangers.

The conditions include procedures and controls for obtaining building licences.

Engineering plans for buildings and establishments and criteria used will also be an integral part of the requirements.

For the 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/.

News developments

Saudi Arabia: VAT Regulations Amendment

16/02/202316/02/2023
by Benjamin Filaferro

Almadina, 13 February 2023: Saudi Arabia’s Zakat, Tax and Customs Authority has stated it is currently amending Saudi Arabia Cabinet Decision No. 654/1438 On the Approval of the Value Added Tax Law.

The changes will include late tax return submission fines.

According to the amendments, the Authority will be given the power to confiscate money from individuals who refuse to pay the final tax due.

Those who do not submit the tax return by the specified deadline will be fined two per cent of the outstanding tax amount for each month of delay.

For the 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/.