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News developments

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

  • 08/12/202208/12/2022
  • 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:

Pillar 2 – How might OECD’s Pillar 2 affect GCC businesses?

OECD’s Pillar 2 Module, which ensures large multinational enterprises pay minimum tax levels on income, will impact taxpayers across the globe. Rami Alhadhrami of BDO Kuwait looks at how it might affect GCC businesses.


The first 100 days… as Head of Tax

With the recent tax changes in the Middle East, tax recruitment specialists have seen more businesses wanting to hire their first-ever Middle East In-house Head of Tax. Conor McHugh of Alchemy Search and Siegert Slagman, a Head of Tax, share their experiences recruiting these roles and the crucial first 100 days in the post.


Practical Focus on Double Taxation Agreements

With effect from 1 January 2020, Saudi Arabia and the UAE have implemented a treaty to avoid double taxation. Zain Satardien of Hourani & Partners shares practical points on this Double Taxation Treaty (DTT), how it provides significant advantages for businesses operating in the two contracting states, and how it aims to avoid double taxation and prevent tax evasion.


Managing Challenges and Change with Technology

Nitin Agarwal, Head of Taxation at Majid Al Futtaim Carrefour UAE, talks about how successful major transformation projects have made him more confident and prepared to deal with future tax changes and challenges.


Practitioner Perspective on Excise Tax

Michel Ruitenberg of Crowe looks at how Excise Tax, an important compliance area for retail businesses, has changed in the UAE and the differences in how it operates there to other GCC countries.


Am I eligible for World Cup tax exemptions?

Qatari authorities are granting special World Cup Tax Exemptions, but who is eligible and for what? Thomas Vanhee of Aurifer Middle East Tax answers 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 | Winter 2022

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

Lexis-Middle-East-Gulf-Tax_| Autumn 2022
Lexis® Middle East Gulf Tax | Summer 2022

UAE News developments

Dubai: Arbitration Award Rejected as Debtor Not Domiciled in UAE

  • 07/12/202207/12/2022
  • by Benjamin Filaferro

6 December 2022: The Dubai Cassation Court has rejected the enforcement of an arbitration award against a foreign debtor on the grounds that the debtor is not domiciled in the United Arab Emirates. 

Following the ruling, award creditors seeking enforcement of a foreign arbitral award in the United Arab Emirates should bear in mind that if the award debtor is not domiciled in the UAE, the Courts may reject the award. 

Creditors should also consider that if foreign award debtor assets are not named in the award, the Courts may refuse enforcement action against those assets.

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/.

United Arab Emirates News developments

Abu Dhabi: ADGM Publishes Guiding Principles on Whistleblowing

  • 07/12/202207/12/2022
  • by Benjamin Filaferro

6 December 2022: Abu Dhabi Global Market (ADGM) has published its Guiding Principles on Whistleblowing, covering critical aspects of a robust whistleblowing framework, including transparency, accountability and market integrity. 

The principles complement ADGM’s existing regulatory frameworks and encompass six key aspects: encouraging a broad definition of whistleblowing to be used; ensuring that whistleblowers are given adequate opportunities to speak up and are fairly treated when they do so; restricting access to whistleblowing reports and following due process in managing them; focusing the protections of any whistleblowing framework to honestly held beliefs reported in good faith; including appropriate resources to support it, which will vary depending on the nature of the relevant entity’s business; supporting a whistleblowing program with an organisational culture of trust and transparency.

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/.

UAE News developments

UAE: Employers’ Ratings Lowered If They Delay Payment of Salaries

  • 07/12/202207/12/2022
  • by Benjamin Filaferro

Emaratalyoum, 5 December 2022: The UAE’s Human Resources and Emiratization Ministry has warned companies with 50 or more employees that their employer’s rating will be lowered if they delay the payment of salaries to their workers. 

Any employer found to have delayed payment of their workers’ wages will have their rating lowered to the ‘High Risk Establishments’ 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/.

UAE News developments

Dubai: Employer Faces Action for Violating Nafes by Appointing 43 Family Members

  • 29/11/202207/12/2022
  • by Benjamin Filaferro

WAM, 28 November 2022: The UAE Ministry of Human Resources and Emiratisation has launched action against an employer who violated the provisions of the Nafes programme by appointing 43 members of his family to circumvent Emiratisation criteria and benefit financially. 

The ministry considered the appointments to be ‘fake Emiratisation’, meaning the family members were enrolled with the company without any real work for the company to exploit the Nafes benefits. 

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/.

United Arab Emirates News developments

UAE: Emirati Nationals in Private and Banking Sectors Get Pay Rise

  • 28/11/202230/11/2022
  • by Benjamin Filaferro

Albayan, 23 November 2022: UAE’s Vice Prime Minister has announced a pay increase for Emirati nationals working in the private and banking sectors to attract and support the maximum number of UAE nationals to roles in these sectors. 

The increase is valid for all employees of the private and banking sectors, regardless of the date they started or whether they were appointed before or after the launch of the ‘Nafes’ program in September 2021.  The extra financial support will be AED 7,000 for holders of a bachelor’s degree, a maximum of AED 6,000 for diploma holders and a maximum of AED 5,000 for those with high school qualifications or less.

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: E-Link Project Between Four Freezones Completed

  • 28/11/202228/11/2022
  • by Benjamin Filaferro

Albayan, 24 November 2022: The Abu Dhabi Department of Economic Development has announced the completion of an e-link project with four free zones, which aims to integrate and create a unified database of economic licences in the Emirate. 

The free zones include the KEZAD Group – which comprises 12 economic zones – Abu Dhabi Airports Free Zone, the Media Free Zone and Masdar City Free Zone.

The e-link will provide information about the owners of economic establishments in line with federal laws and regulations.

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/.

LexisNexis and BSA Ahmad bin Hezeem & Associates LLP host a UAE Mock Trial! News developments

LexisNexis and BSA Ahmad bin Hezeem & Associates LLP host a UAE Mock Trial!

  • 24/11/202224/11/2022
  • by Benjamin Filaferro

Thank you to everyone who participated in the UAE Mock Trial on 21 November 2022!

In partnership with BSA Ahmad bin Hezeem & Associates LLP, LexisNexis Middle East was pleased to host a ‘UAE Mock Trial’. This interactive event showcased the journey of a bankruptcy case through the Dubai Courts, from the initial sessions before the Court of First Instance to the Final Verdict and ultimately arriving at the Court of Appeal.

The BSA team provided step-by-step guidance through the Courts procedure when handling bankruptcy cases and delved into how the recently amended UAE Bankruptcy Law

  • Impacted Director liabilities in the event of bankruptcy;
  • Provides a rescue culture and a remedy to struggling firms needing debt relief.

They also looked at the punitive provisions of the law. Thank you to all participants, specifically the BSA team, for making this event a success!

United Arab Emirates News developments

Abu Dhabi: Public Warned About Issuing of Forged Commercial Licences

  • 24/11/202224/11/2022
  • by Benjamin Filaferro

23 November 2022: Abu Dhabi Global Market’s (ADGM) Registration Authority (RA) has issued an alert to the public to look out for people issuing forged RA commercial licences under the name Emirates Commercial Insurance LLC. 

The RA stresses that Emirates Commercial Insurance LLC is not incorporated in the ADGM or licensed to conduct business in the ADGM. 

Falsely claiming registration to conduct business in the ADGM can lead to a fine of up to US$15,000 per contravention. 

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/.

UAE: Consultation Launched to Seek Views on Regulation of Money Laundering News developments

UAE: Consultation Launched to Seek Views on Regulation of Money Laundering

  • 24/11/202224/11/2022
  • by Benjamin Filaferro

Arabian Business, 22 November 2022: The UAE’s Public-Private Partnership Sub-Committee (PPPSC) has issued a draft report as a consultation paper, seeking comments and feedback from relevant stakeholders on a proposed regulatory approach to curb money laundering and terrorism financing activities. 

The PPPSC has recommended a formal sharing agreement relating to strategic information and intelligence between the public and private sectors, as well as strict rules for confidentiality and data protection for information sharing. 

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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