Updates & Alerts

In 2021, Saudi Arabia promulgated the Law of Execution before the Board of Grievances; pursuant to which the Board was delegated to determine the enforcement date of the Law.

HH Sheikh Sultan bin Mohammed Al Qasimi, Ruler of Sharjah, promulgated a Law subjecting branches of foreign banks, operating in the Emirate of Sharjah, to a new income tax.

The Kuwait Capital Markets Authority issued a circular setting out the parameters of prohibitions when it comes to dealings or transactions related to Virtual Assets or Virtual Currencies.

Key changes to the Income Tax Law came in force on the 16th of June 2023 with the changes to Personal income tax amendments in force from 1st July 2023.

3 Key Changes to Jordanian Labor Law No. 8 of 1996 that entered in force on the 15th of June of 2023.

The FTA launches the public awareness campaign to be of service to taxpayers. The aim of this campaign is to help taxpayers understand the Federal Decree-Law No. (47) of 2022 on the Corporate Tax Law.

The Saudi Justice Ministry's Najiz platform provides more than 140 e- services including courts, legal enforcement and notarization.

The first legislation in the UAE to create a regulatory and licensing framework for the operation of Autonomous Vehicles.

Key changes to the Competition Law No. (33) of 2004 enforcing higher penalties on the violation of its provisions.

A new Cabinet Resolution No. (37) of 2023 has been issued, relating to Qualifying Public Benefit Entities for the purposes of the Corporate Tax Law. The aim of the Resolution is to ensure that entities operating for the public benefit are eligible for tax exemption.

Twenty-Seven updates to the Saudi Personal Data Protection Law (PDPL) have been approved and will come into force on September 14, 2023.

Companies will be able to issue "green bonds and sukuks" for public subscription in the UAE.