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German Legal Expertise in the Middle East since 1981

Vol. XXII – Issue 1, Jan. 2018-Articles

Review of
Legal News of the Middle East
PDF Version

 
M&P welcomes Mrs Mariem Al-Ssayrafi

We are please to announce that Mrs Mariem Al-Ssayrafi joined our team in our Dubai office. Today we use this opportunity to give her a chance to introduce herself to the readers of Lex Arabiae


VAT in the UAE – Questions answered

On 1 January, 2018, value added taxes (“VAT”) have been introduced in the UAE. As could be expected, quite many people remain confused about what effect the introduction of VAT will actually have on them and how they are supposed to deal with it. While answers to many questions will only develop over time once a certain practice of the Federal Tax Authority (“FTA”) has been established, some essential questions can be answered already. Federal Decree Law No. 8 of 2017 (VAT-Law) and its Executive Regulations, Cabinet Decision No. 52 of 2017 (“ExReg”) form the main legal basis for VAT in the UAE. This article aims to answer some of the most essential VAT related questions based on the provisions of both, the VAT-Law and the ExReg.


Public Private Partnerships in the UAE

The demand for Public Private Partnerships (PPPs) has seen a recent increase in the Gulf Region. Several GCC Countries have reacted to this by elaborating their PPP regulations. This article intends to present a short overview over these developments. It focuses further on the particular legal situation of the UAE.


Executive Regulations of the Investment Law Number 72 of 2017 in Egypt

After several months of controversy, the Egyptian Cabinet finally approved on 25th October 2017 the executive regulations of the new Investment Law number 72 of 2017. The new law provides a range of incentives including for example tax breaks and rebates on projects established in underdeveloped areas.


Ongoing Drastic Social Reforms in Saudi Arabia and its Economic Impacts

The ongoing drastic reforms taking place in Saudi Arabia in line with the country vision for the year 2030 are having several planned impacts on the life in the Kingdom. The impacts include gradually changing the social environment of a country considered one of the most conservative communities in the world into an open society that empowers citizens and lures investors. Lifting the ban on women driving cars as well as allowing them to attend events in the stadiums and similar facilities; announcing a huge tourism project for building co-resort across a lagoon of 50 virgin islands in front of the Saudi Red Sea coastline and granting tourist visas to the country for the first time; establishing the General Authority for Entertainment that already organized dozens of entertainment events never been allowed inside the country before, and last but not lease granting licenses to cinemas are all examples of the frequent major social reforms taken by the Saudi government for that target. Yet more reforms are planned. These reforms together with the recent amendments of the local investments regulations making the Saudi market more liberal for foreign investment should cause major expansion of the Saudi economy replacing the decline at oil prices being the main source of income to the Kingdom. Brand new fields for investment in the Saudi market in particular at the entertainment and recreational fields are emerging with huge opportunities. Several multinational corporations have already taken part in the new opportunities.

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