United Arab Emirates Archives - Page 48 of 65

Abu Dhabi: Penalties for Improper Practices in Food Production Announced

29/12/202229/12/2022
by Benjamin Filaferro

Khaleej Times, 26 December 2022: The Abu Dhabi Agriculture and Food Safety Authority has announced seven administrative penalties to reduce improper practices in the emirate’s agriculture and food production sector.

The penalties include a notice used in low or medium-risk violations; a warning penalty; placing facilities under financial, administrative, and technical supervision; temporary suspension of the facility’s activity; eliminating or suspending the facility’s licence.

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News developments

The MENA Business Law Review No. 04/2022 is out!

22/12/202222/12/2022
by Benjamin Filaferro

We are pleased to share the fourth edition of the MENA Business Law Review 2022, the definitive business law reference in the Middle East and North Africa! In this edition:

REGULATORY: البيع على الخارطة by Faisal Rashid Al Sahouti of the Qatar International Court and Dispute Resolution Centre (QICDRC)

We look into how Qatar is working on boosting and advancing the real estate sector by establishing the Real Estate Regulatory General Authority, which shall work on achieving stability in the real estate sector, protecting the investors’ money, and fulfilling the vision of the State of Qatar to reach a comprehensive urban renaissance.

LEGISLATIVE INSIGHT: Implementing Regulations under the UAE Immigration Law by Gordon Barr and Roxanne Vesuvala of Al Tamimi & Company

We summarise the new visa rules that have come into force in the UAE.

LITIGATION: The English Courts’ View on the “Convenience” of Litigating in the UAE by Peter Smith of Charles Russell Speechlys

This article considers cases in which English courts have considered the advantages and disadvantages of commercial disputes being heard in the courts of the United Arab Emirates as the alternative to England.

CONSTRUCTION LAW: The Middle East – Safe Harbour for the Global Construction Industry by Andrew Mackenzie and Terrick Mccallum of DLA Piper

In this article, we explore some of the significant projects and developments underway or set to commence in the Middle East soon, with a particular focus on Saudi Arabia, Qatar and the UAE and discuss what this means for the construction sector as a whole in the region.

DISPUTE RESOLUTION: Managing Disputes During the Life Cycle of a Construction Project by James Cameron of Fenwick Elliott LLP

Construction projects have an almost unique ability to generate disputes, which are often expensive and drawn out. This article reviews recent industry reports from HKA and Arcadis. It aims to provide real-world tips to help employers, main contractors, and subcontractors avoid and mitigate disputes where that is not possible.

LIBERALISATION: “Où va le droit des affairs en Tunisie” ? by Dr Najet Brahmi Zouaoui

The new Tunisian constitution of 15 July 2022 appears to be part of a logic of withdrawal from the liberalism of the past. This article explores how the texts of the constitution have been modified to strengthen the exemption of certain economic activities from the requirement of prior authorisation and aims to answer the question of where business law is going in Tunisia today.

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LexisNexis MENA Business Law Review No. 04_2022

Have you read the previous editions of the MENA Business Law Review? Click the links below to access and read previous editions.

LexisNexis MENA Business Law Review No. 03_2022

LexisNexis MENA Business Law Review No. 02_2022

LexisNexis MENA Business Law Review No. 01_2022

News developments

Abu Dhabi: Campaign Launched to Raise Awareness of Rights for Labour Camp Workers

21/12/202221/12/2022
by Benjamin Filaferro

WAM, 19 December 2022: The Abu Dhabi Judicial Department has launched an awareness campaign to help inform workers in labour camps of their rights and duties under the provisions of Federal Decree-Law No. 33/2021 on the regulation of labour.

The campaign aims to shed light on the provisions of the law and the scope of its application, raising the legal awareness of a large segment of workers.

For the full story, click here.

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News developments

Abu Dhabi: Abdu Dhabi Business Hub expands services

19/12/202219/12/2022
by Benjamin Filaferro

Emaratalyoum, 15 December 2022: Abu Dhabi Business Hub has announced it will expand its services for entrepreneurs and micro, small, and medium enterprises to include online educational programmes.

The Abu Dhabi Business Hub is a joint public/private venture offering an interactive platform to support and guide entrepreneurs and businesses.

The platform has also improved user, supervisor, and partners experience in line with best commercial practices.

For the full story, click here.

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News developments

Abu Dhabi: FSRA Seeks Views on the Introduction of Private Credit Funds

14/12/202214/12/2022
by Benjamin Filaferro

12 December 2022: The Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) has published a consultation paper seeking views from fund managers and investors on introducing private credit funds within the FSRA’s collective investment funds regulatory regime.

The aim of the private credit funds – collective investment funds that originate loans to borrowers, purchase existing loans from third-party lenders, or invest in a combination of the preceding – is to increase the fund options in ADGM and attract start-ups and SMEs.

The funds will only be offered to professional clients as either qualified investor funds or exempt funds.
Further information is available on the ADGM website.

For the full story, click here.

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News developments

Dubai: DIFC Seeks Views on Proposed Legislation on Family Arrangements

13/12/202213/12/2022
by Benjamin Filaferro

12 December 2022: The Dubai International Financial Centre (DIFC) has launched a consultation seeking views on its proposed new Family Arrangements Regulations, which, alongside the recently launched Family Wealth Centre, aim to provide a regulatory framework and hub for global and regional family-owned businesses, ultra-high net worth individuals and private wealth.

The key aspects of the proposed regulations are: comprehensive provision for the engagement of family businesses with the DIFC; repeal of the Single-Family Office Regulations and the DIFC’s Single Family Office regime and their replacement by a new Family Office regime that can provide services to a family or more than one family in certain circumstances; the establishment of certification and accreditation regimes for family businesses and their advisors in the DIFC.

The DIFC has also proposed amendments to the Leasing Regulations in a separate consultation paper.

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News developments

UAE: Corporate Tax Law Issued

09/12/202209/12/2022
by Benjamin Filaferro

9 December 2022: The UAE Corporate Tax Law, Federal Decree-Law No. 47/2022 has been issued on the UAE Ministry of Finance website.

The Corporate Tax Law provides the legislative basis for introducing and implementing a Federal Corporate Tax in the UAE. It will be effective for financial years starting on or after 1 June 2023.

The introduction of the Corporate Tax Law intends to support the UAE in achieving its strategic objectives and accelerate its development and transformation.

For the full story, click here.

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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!

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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 | 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

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.

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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.

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