The old Omani Labour Law has been in force and applicable to all matters related to employment until, 20 years later, the Sultanate promulgated a new Labour Law. The new law is now effective (as of 01 August 2023 AD) and replaces the old in its entirety. Its executive regulations are...
Two years ago, Saudi Arabia promulgated the Law of Execution before the Board of Grievances. The Law entrusted the Administrative Judicial Council in the Kingdom to determine the enforcement date of the Law; i.e. the date on which the provisions of the Law become applicable.
As of August 3rd, branches of foreign banks operating in Sharjah are subject to a new income tax of (20%).
The new recommendations from FATF (15) require that Virtual Assets (VA) and Virtual Assets Service Providers (VASP), be regulated by the concerned Regulators, for AMLCFT purposes.
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