Saudi Arabia Archives - Page 21 of 34 - LexisNexis Middle East

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.

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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.

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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!

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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/.

News developments

Hot off the Press: Get the Inside Scoop with the Latest Edition of Lexis® Middle East – HR Alert!

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

Get ready to stay ahead of the game with the newest issue of our top-rated HR magazine – the Lexis® Middle East – HR Alert! This must-read publication offers exclusive updates on the most recent labour and employment law changes and cases, as well as invaluable advice on region-specific HR policies and templates.

From informative interviews with renowned regional HR professionals to expert guidance on the latest industry trends, this complimentary magazine has it all. Don’t miss out on your chance to gain a competitive edge – get your hands on the latest edition of the HR Alert now!

In this edition:

Foolish to Fake It

New Emiratisation regulations are in place as of January 2023, but some employers are trying to bypass them. Learn about the negative consequences from Dr Laura Voda and Maquelin Pereira of Fichte & Co.

Meet Me in the Metaverse

UAE Technology Recruitment specialist Marc Ellis has set up a replica of their office in the Metaverse. Learn about their experiences in this exciting new virtual space.

Immigration Focus: Recent GCC Immigration and Visa Changes

Stay informed on the latest immigration updates in the GCC with Vialto Partners. Keep track of changes and make sure you comply with new regulations.

Immigration Profile: Embracing Change

Anir Chatterji, Partner at Vialto Partners, shares insights on how the Russia-Ukraine war and evolving GCC immigration policies have impacted his work. Stay ahead of the curve with expert analysis.

Law Changes: New and Proposed MENA Laws – Health Insurance

Stay on top of the latest legal changes in the MENA region! Learn how Dubai Administrative Decision No. 78/2022 is impacting health insurance rights for employers from experts Bassem Daher and Yara Hifni of Galadari Advocates & Legal Consultants.

HR Profile: Attract and Retain

Maisa Maarouf, Head of HR & Administration at BSA Ahmad Bin Hezeem & Associates LLP, shares the importance of staff retention initiatives in her work. Learn how to attract and keep top talent.

Practitioner Perspective: Recent Reforms in Saudi Arabia

Stay informed on the latest labour laws in Saudi Arabia! Check out Clyde & Co’s MEA Employment Partner, Sara Khoja’s insights on the fundamental reforms that could make it easier for employers to attract top talent.

Moves and Changes

Stay up-to-date on the latest business happenings with our round-up of moves, changes, appointments, and promotions.

Policy Pointers: Probation Policies

Probation periods in employment contracts give employers time to evaluate new hires and employees a chance to review their work conditions before committing long-term. Typically lasting 3-12 months. Get policy pointers from expert Sulakshana Senanayake of Afridi & Angell for similar policies in the DIFC.

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

LexisNexis Middle East HR Alert_January 2023

Have you read the Lexis® Middle East HR Alert – June and September 2022 editions? Click the links below to access and read these editions.

LexisNexis Middle East HR Alert – November 2022

LexisNexis Middle East HR Alert – June 2022

LexisNexis Middle East HR Alert – September 2022

News developments

Saudi Arabia: Electronic System to Collect Government Revenue Adopted

09/02/202309/02/2023
by Benjamin Filaferro

Almadina, 6 February 2023: Saudi Arabia’s National Centre for Government Enterprise Resources Planning Systems has adopted an electronic system to collect state revenue generated by government authorities.

The system has been launched by the Centre and the Finance Ministry. It will support digital transformation projects in the centre in order to achieve the 2030 Vision objectives.

The centre’s role includes offering solutions and integrated systems to increase the quality of electronic services for government financial transactions.

For the full story, click here.

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News developments

Saudi Arabia: Implementation of Government Rental of Real Estate to Start Soon

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

Almadina, 29 January 2023: The Saudi General Authority for State Real Estate has clarified that the state’s real estate rental law and its implementing regulations will come into force starting from 2 February 2023.

The law was approved, and 180 days have passed since its publication in the Umm Al-Qura newspaper, so it must be implemented.

The new law and its implementing regulations have replaced the “state leasing and eviction of real estate” law and its implementing regulations.

It aims to regulate the state’s real estate leasing through government agencies according to its needs. It also rationalises the financial costs of renting and optimises using real estate properties leased by government agencies.

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/.