Newsletter Archives - Page 19 of 202 - LexisNexis Middle East

Category: <span>Newsletter</span>

Qatar: Signs Double Taxation Avoidance Agreement With Saudi and UAE

07/06/202407/06/2024
by Tanya Jain

Al-Sharq, 30 May 2024: Qatar Signs Agreement to Avoid Double Taxation with Saudi Arabia and UAE.

Qatar has signed an agreement with Saudi and UAE to avoid double taxation, especially income tax to prevent tax evasion and avoidance.

The agreement will contribute to supporting international transparency standards through the exchange of documented financial information, within the framework of the three countries’ keenness to consolidate coordination and cooperation in tax fields and economic relations.

The agreement comes within the efforts to enhance legislative coordination that contributes to encouraging trade exchange between Qatar and the two countries and attracting investments to the region.

The agreement aims to conclude tax treaties that eliminate all forms of double taxation.

It will enable the countries to prevent tax evasion and ensure justice and equality in the treatment of individuals, in addition to improving trade cooperation and increasing investment opportunities between governments and individuals.

For the full story, click here.

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Oman: Central Bank Joins Gulf Payments System “Aafaq”

07/06/202407/06/2024
by Tanya Jain

Al-Bayan, 2 June 2024: Oman’s Central Bank has announced that it is joining the Gulf Payments System ‘Afaq’.

Afaq is operated by the Gulf Payments Company owned by the central banks of the GCC countries for cross-border transfers in local Gulf currencies.

This comes within the framework of the bank’s efforts towards developing cross-border payment systems and adopting the latest technologies in this field in a way that improves efficiency and speed and contributes to reducing costs.

For the full story, click here.

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Kuwait: Approves Unrestricted Hiring of Overseas Workers

07/06/202407/06/2024
by Tanya Jain

Arab Times, 3 June 2024: The Public Authority for Manpower (PAM) has opened the door for the issuance of work permits by 100% for all companies.

With such a decision, employers can now bring workers from abroad according to the estimated numbers.

According to the decision issued by PAM, the fee specified for the issuance of a work permit is KD 150.

Through this decision, PAM has canceled the previous conditions that used to classify the companies into three groups.

The first group that was eligible to receive work permits for 100% of their estimated labour need.

The second group that could receive work permits for 50% of their need, and the third group that could obtain work permits for 25% of their need.

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Dubai: Launches Programme to Facilitate Judgment Enforcement Procedures

07/06/202407/06/2024
by Tanya Jain

Emaratalyoum, 30 May 2024: The Dubai Courts have launched the ‘Execution+’ programme. This programme is a big step forward in enforcing court rulings through digital technology. The programme is part of a strategic plan to develop the system for enforcing judgments and civil orders.

Dubai Courts have affirmed that through ‘Execution+’, it assists customers in procedures related to enforcing judgments by providing a flexible, integrated and clear system that benefits all parties.

The Director of Dubai Courts has said that this programme comes within a comprehensive digital initiative aimed at elevating the system for enforcing judicial rulings in the emirate.

Dubai has also affirmed that the courts conducted a detailed study to identify the challenges facing enforcement operations and then adopted ‘Execution+’, a set of developmental initiatives to assist customers in procedures related to enforcing judgments in a smooth and transparent manner.

Getting a judgment is not enough you also need to enforce it to actually obtain your rights.

There were often delays in the enforcement process.

This is what led them to start working on a set of initiatives under this ‘Execution+’ project.

All departments in Dubai cooperated with the Dubai Courts on these initiatives.

This cooperation from various departments across the emirate was vital for the project.

The second phase will involve cooperating with federal authorities in other emirates across the UAE.

This project represents a major improvement in enforcing judgments. That’s because enforcing judgments requires coordinating with many different authorities.

However, by using technology and cooperating with all government, semi-government, and other departments, this can be achieved more effectively.

The programme seeks to offer innovative judicial services to all customer categories, underpinned by quality, efficiency and effectiveness, as well as enhancing the efficiency of the enforcement process.

The strategic plan for developing the system to enforce judgments and civil orders includes several initiatives and projects.

These aim to achieve speedy justice, ensuring everyone entitled receives their rights promptly.

The plan also seeks to enhance litigants’ confidence in the judicial system, contributing to social and economic stability.

Additionally, it focuses on improving the efficiency and effectiveness of enforcement procedures.

This saves litigants from the hassle of waiting and following up.

The plan supports providing a digitally integrated work environment for smooth operations across various organisational units, positively impacting service quality.

Ultimately, the strategic plan aims to save time and effort expended in the enforcement process.

‘Execution+’ aims to digitally transform the enforcement of judgments through five main pillars.

It enhances efficiency and digitisation to streamline procedures and optimise resource utilization.

The program expedites enforcement procedures while ensuring flexibility.

It promotes transparency and information exchange between relevant authorities and officials involved.

‘Execution+’ enables collaboration with partner organizations. Ultimately, it ensures legal compliance throughout the enforcement process.

This programme falls within Dubai Courts’ efforts to elevate the level of services and achieve government directions aimed at making litigants happy and providing the best services to society in accordance with the vision of the wise leadership.

This focuses on entrenching the guarantee of rights and freedoms, and the application of the rule of law and fair judiciary.

‘Execution+’ also reflects the courts’ commitment to achieving the highest levels of transparency and justice in enforcing judicial rulings, and affirms its leading role in enhancing the rule of law and providing distinguished judicial services to all members of society.

For the full story, click here.

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Bahrain: Legislation Promoting Women’s Rights

07/06/202407/06/2024
by Tanya Jain

The Daily Tribune, 30 May 2024: The Bahrain Head of the services committee of the consultative council has announced that it has significantly advanced women’s rights through a strong legislative framework.

National legislation supporting gender balance and women’s empowerment reflects the leadership’s interest, with support from the President of the Supreme Council for Women.

The Bahraini Constitution and the National Charter affirm equality among all citizens, prohibiting discrimination in rights and duties.

Additionally, amendments to Bahrain Law No. 36/2012 in the private sector have reinforced women’s rights in the workplace, granting them the same entitlements as their male counterparts.

The legislation also addresses the needs of working mothers, providing 60 days of paid maternity leave, two hours of childcare per day until the child reaches six months, and two half-hour care periods until the child’s first birthday.

Additionally, the law prohibits the dismissal or termination of a female worker due to marriage or maternity leave.

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ADGM: Publishes Consultation Paper To Revamp Real Property Regulations

07/06/202407/06/2024
by Tanya Jain

The Abu Dhabi Global Market (ADGM) has published a Consultation Paper seeking public input on proposed comprehensive reforms to its real property regulatory framework.

The revamp aims to address evolving market needs, align with industry developments, and position ADGM’s real estate regulations as best-in-class to support sector growth.

Key areas include streamlining processes, introducing new investment vehicles, and strengthening investor protection.

The consultation paper has outlined amendments to Abu Dhabi Administrative Decision No. 245/2015, focusing on enhancing protections for tenants in short-term residential leases.

Additionally, ADGM plans to introduce a new framework for the registration of off-plan development projects, off-plan sales, and Project Accounts, providing greater transparency and oversight in this segment of the real estate market.

The proposed reforms also include the introduction of a framework for registering off-plan and real property professionals, such as brokers, valuers, and property managers, who provide services within ADGM’s jurisdiction.

This move aims to ensure compliance to industry standards and safeguard the interests of all stakeholders involved in real estate transactions.

Stakeholders, including industry professionals, investors, and members of the public, are encouraged to participate in the consultation process by submitting their feedback and suggestions.

This collaborative approach ensures that the final regulations reflect the diverse perspectives and requirements of the real estate market.

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Lexis Middle East HR Alert – May 2024 Edition

05/06/202405/06/2024
by Tanya Jain

Welcome to the May 2024 edition of Lexis Middle East – HR Alert!

Our complimentary publication is your go-to resource for staying informed on the latest Labour and Employment developments in the MENA region. In this edition, we provide a thorough overview of recent HR updates and key cases, alongside valuable insights into regional HR policies and laws. Stay empowered and well-informed with our meticulously curated content designed to keep you ahead in the evolving HR landscape.

This month, we explore how Saudi employers can utilise the Ajeer platform to manage temporary workers. Experts from Dentons and 11KBW discuss the legal risks of off-channel communications. We cover key regional developments, including DIFC immigration rule changes, and present survey findings on localisation trends in the GCC. Our law changes section highlights new insider trading rules from the Qatar Financial Markets Authority, and we analyse a significant case on freelance versus employee status. In our HR profile, Mpho Netshiombo from KPMG Bahrain discusses evolving recruitment strategies. Additionally, we review major HR moves across the region and provide practical advice on managing HR policies during adverse weather.

Stay informed with the latest insights and updates in this edition of Lexis Middle East HR Alert.

This edition features a diverse range of content, including:

Feature: Temporary Positions

Sara Khoja, Sarit Thomas, and Faisal Alassiri of Clyde & Co provide a comprehensive guide on leveraging the Ajeer Platform. They explain how this tool helps Saudi employers manage temporary workers more effectively and in compliance with regulations.

Trend Setter – Off-Channel Communications

Shiraz Sethi, Regional Head of Employment at Dentons, along with barristers Amy Rogers KC and Tom Ogg of 11KBW, discuss the increasing legal risks posed by off-channel social messaging. They offer insights into how employers can mitigate these risks.

News Round-up: Covering Recent Key Developments – Region-Wide

Stay abreast of recent developments, including employment-related matters, highlighting notable changes in Kuwait’s approach to part-time working.

Immigration Focus: Survey – Localisation Trends

This section highlights the findings of a recent survey conducted by Vialto Partners and Lexis Middle East. It provides key insights into localisation policies and trends in the GCC.

Case Focus

An analysis of a pivotal case that addresses the distinctions between freelance and employee status, offering critical insights for HR professionals navigating these classifications.

Law Changes: New and Proposed MENA Laws

Highlighting significant legal modifications across the MENA region. Reeda Halawi of Sultan Al–Abdulla & Partners examines the new insider trading rules introduced by the Qatar Financial Markets Authority through Decision No. 2/2024, explaining their implications for businesses.

Case Focus

A specific case, Miskofi v Milbart, in the Dubai International Financial Centre (DIFC) Small Claims Tribunal is examined, showcasing how discrimination and victimisation cases are handled, recommended by Ayesha Karim.

Enrich your understanding of the HR landscape and stay up-to-date with the latest trends, cases, and policies through the newest issue of Lexis Middle East – HR Alert.

For all the latest industry updates and developments, opt for a free HR Alert subscription!

Want to learn more about Lexis® Middle East? Visit, https://www.lexis.ae/lexis-middle-east-law/.

Lexis Middle East HR Alert_May 2024

Have you read the Lexis® Middle East HR Alert – previous 2023 editions? Click the links below to access and read these editions.

LexisNexis Middle East HR Alert_January 2023

LexisNexis-Middle-East-HR-Alert_March-2023

LexisNexis Middle East HR Alert_May 2023 Edition

Lexis Middle East HR Alert – August 2023 Edition

Moves and Changes

A summary of significant HR movements and changes across the region, highlighting notable appointments and transitions within major organisations.

Policy Pointers: Adverse Weather

Sarah Malik from SOL International Ltd offers practical advice on managing HR policies related to adverse weather conditions. She emphasises the importance of preparedness and compliance to mitigate the impact on businesses.

HR Profile: Recruitment in an Evolving Market

Mpho Netshiombo, Head of People, Performance, and Culture at KPMG Bahrain, discusses how recent legal and market changes have impacted recruitment strategies. He shares his approach to talent development, management, and engagement in this evolving landscape.

UAE: Issues Corporate Tax Guide on Free Zone Persons

31/05/202431/05/2024
by Tanya Jain

Al Bayan, 27 May 2024: The Federal Tax Authority (FTA) has issued a guide outlining the application of Corporate Tax to Free Zone Persons.

These guidelines align with the Free Zone Corporate Tax regime, which enables Qualifying Free Zone Persons to benefit from a 0% Corporate Tax rate on Qualifying Income.

The guide provides general guidance on the application of the Corporate Tax Law to Free Zone Persons.

It provides an overview of the conditions required to be met for a Free Zone Person to be a Qualifying Free Zone Person and benefit from the 0% Corporate Tax rate and the activities that are considered Qualifying Activities and Excluded Activities for a Qualifying Free Zone Person.

The guide includes many examples to assist Businesses with understanding how the key elements of the Corporate Tax Law apply to Free Zone Persons.

The guide also covers Corporate Tax calculation for Free Zone Persons, Qualifying Income determination, taxable income subject to 9% rate.

It outlines substance requirements for Qualifying Free Zone Persons, criteria for Foreign or Domestic Permanent Establishments.

The guidelines clarifies the treatment of income from immovable property and Qualifying Intellectual Property, details Qualifying and Excluded Activities and compliance requirements.

The FTA has added that where a Qualifying Free Zone Person operates through a Permanent Establishment in the UAE (outside the Free Zones) or in a foreign country, the profits attributable to such Permanent Establishment will be subject to the 9% Corporate Tax rate.

All Free Zone Persons are urged to thoroughly read the guide, comprehending definitions and interactions of various rules.

Corporate Tax implementing decisions and guides, including the new Free Zone Persons guide, are available on the FTA’s website.

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Saudi Arabia: Changes in the Energy Efficiency Sector

31/05/202431/05/2024
by Tanya Jain

Aleqtsiadiya, 27 May 2024: The Saudi Energy Efficiency Centre Etihad ESCO has announced it is working to create a suitable environment for service providers in this sector to obtain available investment opportunities.

The centre has also implemented a licensing mechanism for those interested in investing in this sector after they have the necessary technical requirements to provide the service and obtain available investment opportunities for energy audit projects.

Eight initiatives have been launched, including an updated regulation for licensing energy efficiency service providers, aimed at identifying the necessary requirements for licensing investors who are interested in the sector in Saudi to ensure the quality of their work and protect the rights of their customers. In addition a second edition of the “National Measurement and Verification Guide” has been issued.

The guide has been aligned with the global “EVO” organisation to ensure there is compliance with the latest international practices in this field. Furthermore, a regulation for independent energy auditors has also been introduced to grant licenses to individuals to provide energy audit services for the residential and commercial sectors and offer energy audit services to facility owners on a wide geographical basis.

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Qatar: Central Bank Changes to FAWRAN system

31/05/202431/05/2024
by Tanya Jain

Argaam, 28 May 2024: The Qatar Central Bank has announced the activation of transfers using the FAWRAN system using a beneficiary’s IBAN number.

FAWRAN is an instant payment system.

Customers now have the option to transfer using the beneficiary’s IBAN, as well as current identifiers such as mobile phone number or alias name.

It is also now possible to easily and instantly verify the beneficiary’s information before completing the transfer process. This service will help reduce the risk of fraud and minimise human errors by reducing manual data entry and enhancing the accuracy and reliability of financial transfers.

For more news and content, try Lexis Middle East. Click on lexis.ae/demo to begin your free trial of Lexis® Middle East platform.

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