The UAE’s Cabinet has approved new draft child car seat regulations. The approval follows a suggestion from the Emirates Authority for Standardisation and Metrology. It aims to adhere to the highest standards and reduce accidents involving children. Drivers will have to provide child car seats for children under four.
Abu Dhabi’s Global Market has announced it is establishing an Arbitration Centre. It is expected to start operations in early 2018. The decision coincides with the decision of the International Commerce Chamber to open the first representative office in the Middle East in the Global Market by January 2018. The Centre will also offer training in settling disputes.
Abu Dhabi’s Economic Development Department has announced the enforcement of amendments to its penalties regime in line with Abu Dhabi Executive Council Decision No. 47/2017 on violations regarding businesses or establishments licenced for economic activities in line with Article 6 of Abu Dhabi Law No. 2/2009. The amendments follow repeated violations by establishments licenced for economic activities in the Emirate. The Department has called on all establishments to go through the amendments and comply with the relevant regulations to avoid penalties ranging from formal warnings and fines depending on the nature of the violation.
Qatar’s Emir, Sheikh Tamim bin Hamad al-Thani has issued a Decree-Law amending the 2004 Law on combating terrorism. It includes definitions of terrorists, crimes and terrorist acts and entities. It also contains provisions on the freezing of funds and terrorist financing. Two national lists of individuals and terrorist entities will be created. The procedures for who gets listed have also been laid out. In addition, relevant parties will be able to challenge a decision to list at the Court of Cassation.
Dubai’s Crown Prince and Executive Council Chairman, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum has issued a Decision to regulate the rental of buses, trucks, recreational vehicles, motorcycles and bicycles in the Emirate. It also aims to regulate the transporting of passengers, goods, valuables, packages, food and furniture by specialist companies. It applies to all relevant entities in Dubai, including those based in special development zones, free zones and the Dubai International Financial Centre. The Decision will be published in the Official Gazette and will come into effect 60 days after it has been published.
The UAE’s Finance Ministry has confirmed certain financial services, residential properties, bare land and local passenger transport will be exempt from VAT. The UAE is set to implement 5% VAT on 1 January 2018. Supplies, including sales or leases, of commercial properties will be taxable at the standard VAT rate of 5% percent but supplies of residential properties will generally be exempt from VAT. In addition, the first supply of newly-constructed residential properties within 3 years of their completion will be zero-rated for VAT purposes. VAT will also be charged at 0% for exports of goods and services outside the GCC and international transportation and related supplies. Supplies of certain sea, air and land transportation (like aircrafts and ships), certain investment grade precious metals (like gold or silver which reach 99% purity), supply of certain education services and supply of relevant goods and services and supply of certain healthcare services and supply of relevant goods and services will be taxed at 0%.
The UAE’s Economy Ministry has called on companies dealing with commercial partners in the EU to keep up with the new European public information protection legislation. The Assistant Undersecretary for the Ministry’s External Trading Sector, Joma Mohammed Alkait said the Ministry is issuing this call as part of its efforts to keep all companies informed on new developments in policies and legislations in the relevant markets in which they may have trading partners. The legislation will be implemented in May 2018 and is aimed at strengthening and protecting private personal information in the European Union. It will not only affect companies operating in European countries but also companies who have commercial and investment activities with European countries. Companies should reconcile their procedural and operational activities in line with the legislation.
The accession procedures of Jordan to the Patent Cooperation Treaty (PCT) with the Secretary General of WIPO have been completed and came into effect on 9 June 2017. Jordan becomes the 152nd member of the Treaty. Any PCT applications filed on or after the effective date will include the designation of Jordan. It will be possible to file international patent applications through the Jordanian Patent Office.
Egypt’s Investment Minister, Sahar Nasr has announced the Executive Regulations to the Investment Law will be issued by 30 June. The drafting committee will hold a meeting on Sunday to finalise the Regulations. The Investment Law was approved by President Al-Sisi on 1 June.
Bahrain’s Central Bank has announced new regulations to create a regulatory framework to allow start-ups and fintech firms to test and experiment their banking ideas and solutions. It will provide a virtual space for companies to test their technology-based innovative solutions and will be open to existing Central Bank licensees and other local and foreign firms. The testing duration will be nine months and can be extended for up to three months. To be eligible, solutions need to demonstrate their solution is innovative, beneficial to customers, technically tested and will be deployed in the Kingdom after the trial period ends.
