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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.

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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

UAE: Report on Impact of Legislation Regulating Labour Market Activities Approved

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

Albayan, 28 March 2023: A report on the effect of labor market regulations on the economic changes in the UAE was approved by the UAE’s Financial, Economic, and Industrial Affairs Committee in the Federal National Council.

The report was approved during a meeting held in Dubai at the general secretariate’s headquarters.

The committee reviewed the law’s impact on supporting the state’s economic development and balancing the interests of all parties, as well as its effect on the objectives and strategies of the Emirate 2071 Vision.

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

UAE: Federal Tax Authority Launches Business Support Initiative

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

Alittihad, 17 March 2023: The UAE’s Federal Tax Authority has launched an initiative which aims to support small and medium-sized businesses (SMEs) by offering a range of services and incentives tailored to the sector to promote tax compliance.

Muwafaq package is a project that offers a set of privileges to small and medium-sized enterprises (SMEs) in the UAE, along with training programmes and educational material on the basics of tax procedures to enhance compliance with tax laws and regulations in the sector.

Small and medium-sized enterprises (SMEs) are eligible to use this scheme. Those covered by the scheme will have an SME relationship manager appointed. There will be tax agent discounts and will be supplied with tax accounting software at competitive prices. SMEs will also be given priority on the use of certain Federal Tax Authority services. In addition, they will be given educational material onr tax procedures, tailored awareness sessions and workshops. Additional benefits will also be offered to SMEs.

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

Dubai: Online Scheme to Boost Government Customer Service

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

The National, 21 March 2023: Dubai has launched an online initiative named 04 platform, aimed at enhancing customer service in over 40 participating government departments.

The platform will allow people to submit complaints, suggestions and queries directly to the departments via notes or audio messages, with the goal of receiving feedback in less than two minutes.

Officials and stakeholders can directly receive and respond to customers’ opinions, suggestions and ideas.

The platform supports submission via WhatsApp for Business as well.

The initiative aims to bridge the gap between government and its customers and strengthen the connection between the leadership and customers.

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

UAE: Official Guide on Limiting Food Wasting Issued

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

Albayan, 15 March 2023: The UAE’s Minister of Climate Change and Environment has unveiled a guide on reducing food waste in buffets at restaurants.

This is part of the National Initiative for Limiting Food Waste (Nimaa) which aims to reduce food waste by 50 per cent by 2030.

The minister emphasised the importance of establishing partnerships and implementing sustainable solutions to meet the target.

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

UAE: New Freelance Work Permits for ‘All Skill Levels’ to be Introduced

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

The UAE plans to introduce a flexible work permit by the third quarter of 2023, enabling individuals of all skill levels to take up freelance jobs either in the country or from anywhere in the world.

The Minister of Human Resources and Emiratisation confirmed the new permit aims to support all types of remote and flexible work and expects it to create up to 24,000 jobs by 2024.

The permit would allow employees to work for themselves, enhancing productivity in the workforce while allowing businesses to attract a more diverse pool of talent.

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!

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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

UAE: Public Prosecution Warns of Penalties Against Employees Who Leak Details of Investigations

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

Khaleej Times, 3 March 2023: The UAE’s Public Prosecution has warned disclosing information from legal cases is a crime punishable by stiff penalties.

In an advisory, the authority has reminded all details related to investigations and ensuing findings must be kept strictly confidential, and hefty penalties will be imposed on violators.

This applies to all those who may be privy to matters in court, including public prosecution staff, clerks, assistants, and experts.

The authority also stated evidence collection reports must be treated with the same confidentiality stipulated in a subclause of Article 67 of Federal Decree-Law No. 38/2022 On the Issuance of the Criminal Procedure Law.

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

Abu Dhabi: Previous Pension Service Periods Added Automatically

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

Albayan, 5 March 2023: The Abu Dhabi Pension Fund has confirmed it automatically includes the previous service periods of individuals who are registered with the Fund from both the private and public sectors.

This is done at no additional cost to the insured persons.

However, if an insured person has received their end of service payment and later decides to add their previous service period, they must pay a fee which is equivalent to 26 per cent of the salary used as the basis for calculating their subscriptions.

The service periods which can be added include previous work periods with the federal government, previous work periods in the private and public sectors in the Emirate of Abu Dhabi, previous work periods in the private sector outside the Emirate of Abu Dhabi, and previous service in local authorities in the UAE, provided the conditions stipulated by law are met.

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

Meet the Dazzling Winners of the 2023 LexisNexis Women in Law Awards in the GCC!

03/03/202303/03/2023
by Benjamin Filaferro

Get ready to meet the inspiring and trailblazing winners of the 2023 LexisNexis Women in Law Awards in the GCC! The wait is finally over, and we are thrilled to announce the deserving winners of these highly anticipated awards.

With over 195 impressive entries across 17 categories, these women in the GCC legal industry have truly raised the bar. We want to give a huge round of applause to all the participants who have made this event a true success from the start.

The winners were announced at a glamorous gala dinner and awards ceremony held at the iconic Ritz-Carton in JBR, Dubai, UAE, on 2 March 2023.

We couldn’t have made this possible without the support of Yungo Legal Consultants (Drinks Reception Sponsor), DLA Piper (Bronze Sponsor), Sorbonne University Abu Dhabi (Award Sponsor) and Grant Thornton (Audit Partner).

You can check out the winners by clicking here.

We’re already looking forward to the next edition in 2024 and can’t wait to see what’s in store for the future of women in law in the GCC!

MEET THE WINNERS