The final Law Update of 2022 is here, and it’s packed full of articles. The double edition features two focus areas, first is a spotlight on Energy and Resources and second we feature a collection of articles on Transport and Logistics. The developments occurring in these sectors in the MENA region are unprecedented and our lawyers cover vast themes for you.
The Energy and Resources focus features topics such as diversifying energy resources, solar PV, mining in the Middle East, renewable energy and green hydrogen. From a transport perspective, we draw attention to the Bahrain metro project, discuss the challenges and remedies associated with the repossession of an aircraft, and there is advice on what to consider should a party vary the terms of a shipping contract.
This edition navigates you through updates from across jurisdictions such as, Oman, Jordan, Saudi Arabia, Egypt, Iraq, Qatar, and the UAE. Each article is timely and provides insights into legal issues and cases that are affecting these sectors across the region.Read the full edition
The KSA Zakat, Tax and Customs Authority has on 2 July 2021 issued an immediately effective new decision No. 3852 (the “Decision”) setting new customs regulations. The Decision relates to GCC countries only.
Goods that moved from free zones and duty-free markets to the customs department shall be treated as foreign goods, even if they include local raw materials or items for which customs duties were paid before entering the free zones and duty-free markets.
Verification of Origin
Rules and conditions of origin verification shall be issued under a resolution of the Governor of Zakat, Tax and Customs Authority.
Non-National Origin Commodities
A commodity shall be a non-national origin one, if any of its components is produced or manufactured in the Zionist Entity or any of the neutral elements set forth in Article (9) of the capital producing it is owned, in whole or in part, by Israeli companies or companies listed in the Arab Boycott of Israel.
There was no explanatory memo issued with the Decision. The scope of the Decision implementation including whether it will apply to all other GCC countries equally or if some countries will be exempted is still yet to be inquired.
Our Transport & Logistics sector team are available to advise on further details and product specific queries based on the Decision.