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Find out moreReal estate, construction, and hospitality are at the forefront of transformation across the Middle East – reshaping cities, driving investment, and demanding increasingly sophisticated legal frameworks.
In the June edition of Law Update, we take a closer look at the legal shifts influencing the sector – from Dubai’s new Real Estate Investment Funds Law and major reforms in Qatar, to Bahrain’s push toward digitalisation in property and timeshare regulation. We also explore practical issues around strata, zoning, joint ventures, and hotel management agreements that are critical to navigating today’s market.
As the landscape becomes more complex, understanding the legal dynamics behind these developments is key to making informed, strategic decisions.
2025 is set to be a game-changer for the MENA region, with legal and regulatory shifts from 2024 continuing to reshape its economic landscape. Saudi Arabia, the UAE, Egypt, Iraq, Qatar, and Bahrain are all implementing groundbreaking reforms in sustainable financing, investment laws, labor regulations, and dispute resolution. As the region positions itself for deeper global integration, businesses must adapt to a rapidly evolving legal environment.
Our Eyes on 2025 publication provides essential insights and practical guidance on the key legal updates shaping the year ahead—equipping you with the knowledge to stay ahead in this dynamic market.
A new regulation concerning the amortization of fines and interest incurred by income taxpayers has been implemented with effect from 1 February 2024. This regulation provides relief to individual and corporate taxpayers by allowing them to amortize fines and interest if they meet specific conditions outlined by the General Commission for Taxes. Non-compliance with this provision will result in legal penalties for entities failing to pay fines and interest incurred.
This regulation applies to all income taxpayers, including both individuals and companies, except oil and gas companies and their subcontractors, cell phone communication service providers, and internet service provider companies.
Amortization is possible if the original tax liability is paid within a maximum period of four months from the date of incurring fines and interest.
As the leading law firm in the Middle East & North Africa Region and with strong tax experience across all industry sectors in the region, Al Tamimi & Company is well-placed to assist you and any company affected by the new regulation.
To learn more about our services and get the latest legal insights from across the Middle East and North Africa region, click on the link below.