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Saudi Arabia News developments

Saudi Arabia: Non-Terrestrial Network Regulations Issued

  • 21/09/202221/09/2022
  • by Benjamin Filaferro

Al Madina, 20 September 2022: Saudi Arabia’s Communications and Information Technology Commission has issued three regulatory documents for non-terrestrial networks (NTN).

The documents are regulations for the provision of non-terrestrial networks or NTN services, regulations for the provision of telecommunication services over non-terrestrial networks or NTN and regulations for the registration of telecommunications space stations.

They are aimed at enabling non-terrestrial networks and creating a regulatory environment which boosts investment and facilitate the adoption of the latest wireless technologies.

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/.

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

Saudi Arabia News developments

Saudi Arabia: Financial Firms Ordered to Maintain High Customer Satisfaction Levels

  • 08/09/202208/09/2022
  • by Benjamin Filaferro

Arab News, 7 September 2022: Saudi Arabia’s Central Bank has ordered financial firms in the Kingdom to maintain high customer satisfaction levels. They have issued a Circular to this effect. It applies to all banks, finance, insurance and payments companies operating in the Kingdom.

Customer satisfaction levels must not fall below 80%. Complaints that have already been escalated and closed for the customer’s benefit after processing should not exceed 5%.

The Circular will come into force in the first quarter of 2023.

The Bank added they would review the performance of financial institutions in line with the relevant indicators every quarter and take legal action against violators.

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/.

Saudi Arabia News developments

Saudi Arabia: Procedures for Implementing Regulations for Dealing With Non-Disclosure of Information for Tax Purposes Issued

  • 31/08/202231/08/2022
  • by Benjamin Filaferro

Almadina, 27 August 2022: The Zakat, Tax and Customs Authority has issued procedures for implementing the provisions of the regulations for dealing with non-disclosure of information for tax purposes.

A fine of 500 riyals will be imposed for each day of delay after the end of the period specified for submitting a tax report, provided that the amount of the fine does not exceed 15,000 riyals, according to the common reporting standard before 31 May of the year following the calendar year to which the tax report relates.

The provisions of these procedures will apply to all persons subject to the regulation for the treatment of non-disclosure of information for tax purposes by the provisions of agreements to which Saudi Arabia is a party.

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/.

Saudi Arabia News developments

Saudi Arabia: Holders of the Hayya Qatari World Cup Card can go to Saudi

  • 26/08/202226/08/2022
  • by Benjamin Filaferro

Gulf Times, 24 August 2022: The Saudi Arabian Ministry of Foreign Affairs has announced that holders of Qatar’s Hayya World Cup card will be able to enter Saudi 10 days before the start of the competition.

Further details of how the process will work in practice will be announced later. However, it has been confirmed that holders of the Hayya card will obtain a multiple entry visa valid for 60 days. It will not be necessary for them to enter Qatar before going to Saudi Arabia, but the visitors must have good medical insurance before entering Saudi Arabia.

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/.

Saudi Arabia News developments

Saudi Arabia: Requirements for Electric Vehicle Charging Stations Announced

  • 24/08/202224/08/2022
  • by Benjamin Filaferro

Almadina, 22 August 2022: Saudi Arabia’s Ministry of Municipal and Rural Affairs and Housing has announced the technical requirements for electric vehicle charging stations.

The aim is to regulate the spatial and technical requirements of the sites.

Charging stations must be where people leave their cars for long periods, such as the parking lots of theatres, hotels and commercial complexes.

They can also be in train stations, parking lots of residential buildings and transportation stations.

There is a requirement to apply the technical standards and conditions issued by the Electricity and Cogeneration Regulatory Authority, in particular, the requirements of the Saudi Distribution Code, the regulatory framework for charging electric vehicles and the provisions of the Saudi Building Code.

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/.

Saudi Arabia News developments

Saudi Arabia: New Regulations for Undergraduate and Postgraduate Studies Issued

  • 07/08/202207/08/2022
  • by Benjamin Filaferro

Saudi Gazette, 4 August 2022: Saudi Arabia’s Council of Universities Affairs has issued two new regulations for undergraduate and postgraduate study and examinations.

The regulatory changes will be implemented from 2022 to the 2023 academic year.

They will regulate procedures and have been issued to keep up with developments in undergraduate and postgraduate studies.

They aim to increase the operational efficiency of Saudi Arabian universities and improve the quality of education output in line with labour market demands.

This will boost the recruitment of talented and innovative students and foster distinction and competition between universities.

Universities will have broad powers regarding academic procedures based on governance and a flexible institutional framework.

Under the new regulation for study and examinations, universities can change the semester, level or year schedule at the undergraduate level. They outline a different assessment system will be imposed. The system is compatible with the regulations followed by world-leading universities.

In terms of the regulatory changes affecting undergraduate studies, universities can promote a flexible education system for students, allowing them to earn degrees other than a bachelor’s degree.

For example, those who did not meet the requirements for a bachelor’s degree can be awarded a diploma in the specialism they are pursuing.

The same flexibility will be given to postgraduate students.

Universities will allow students to earn a lower academic degree than the programme they enrolled in.

Joint programmes for postgraduate studies will be able to be established between universities in or outside the Kingdom.

Students enrolled at a non-Saudi university will have the opportunity to enrol in courses at a Saudi university. They may earn a degree or certificate approved by two educational institutions with a joint programme. Students can enrol in two programmes simultaneously or from a previous stage. In addition, students can calculate equivalent courses within their cumulative average.

Various entities helped draft the regulations. They included the Education and Training Evaluation Commission, multiple universities and specialists and Government agency officials who are members of the Council of Universities Affairs.

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/.

Saudi Arabia News developments

Saudi Arabia: Central Bank Launches Public Consultation on Amendments to Implementing Regulations to Insurance Companies Control Law

  • 07/08/202207/08/2022
  • by Benjamin Filaferro

Saudi Arabia’s Central Bank has launched a public consultation on amendments to the Implementing Regulations to the Insurance Companies Control Law. The consultation lasts for 15 days.

The amendments have been proposed following amendments to the Insurance Companies Control Law.

The aim is to provide a comprehensive and flexible legal framework.

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/.

Saudi Arabia News developments

Saudi Arabia: Investment Marketing Authority Established

  • 07/08/202207/08/2022
  • by Benjamin Filaferro

Okaz, 2 August 2022: Saudi Arabia’s Cabinet has decided to establish a Saudi Investment Marketing Authority.

The Authority will be responsible for upgrading all business and services related to investment marketing and achieving cooperation between the authorities.

It will also be responsible for marketing and attracting investments to Saudi Arabia.

In addition, it will be responsible for preparing plans and programmes related to marketing locally and internationally to make investing in Saudi Arabia more attractive.

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/.

Saudi Arabia News developments

Saudi Arabia: Final Phase of Building Code Implementation Begins

  • 01/08/202201/08/2022
  • by Benjamin Filaferro

Al Madina, 28 July 2022: Saudi Arabia’s National Committee of the Saudi Building Code has announced the implementation of the fifth and final phase of the Saudi Building Code has started.

The implementation timeframe is stated in the Saudi Building Code Application Law.

The Committee explained the application of the Code in this stage includes all types of buildings classified in it as well as the entities covered in earlier phases.

This will include all types of warehouses, open and closed car park lots and auto repair workshops.

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/.

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