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 Federal Tax Authority (“FTA”) has issued a new version of the VAT Import Declaration User Guide. The updates to the guide are mainly editorial in nature.
The FTA has also updated the Warehouse Keeper and Designated Zone User Guide for excise tax. The key change was that the designated zone registration must be renewed annually in order to preserve the designated zone status. A fee of AED 2,000 is payable for the renewal.
Importers, warehouse keepers and companies in designated zones should continuously ensure that they remain compliant with VAT import procedures and excise tax related rules as prescribed by the FTA.
Al Tamimi & Company can assist you with the following:
In the KSA, the latest tax developments include the following:
Please click here to read more about the latest KSA tax developments.
Al Tamimi has a strong regional tax practice with local tax expertise in the UAE, and the team are well placed to advise you on relation to your corporate tax, VAT, excise tax and customs issues.
Please do not hesitate to contact Al Tamimi’s Tax Team if you require any assistance.