Category: Legal Updates
Egypt Approves Double Taxation Avoidance Agreement with Qatar
Egypt – In a significant move for international economic cooperation, President Abdel Fattah El Sisi has issued Decree No. 254 of 2023, officially approving a Double Taxation Avoidance Agreement (DTAA) with Qatar. The agreement focuses...
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The Latest Decisions by FRA
The Financial Regulatory Authority (“FRA”) has recently issued two crucial decrees, Decree No. 177 of 2023 amending the Listing Rules issued by virtue of the FRA decision No. 11 of 2014 and Decree No. 178...
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Now That We Are Here: What to Anticipate from UAE Cabinet Decree No. 38 Of 2022 Entering into Force.
Introduction Issued on 21 April 2022, the UAE Cabinet Decree No. (38) of 2022 Concerning the Attestation Fees of Documents, Bills and Certificates of Origin Provided by the Ministry of Foreign Affairs and International Cooperation...
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Implementation of Ultimate Beneficial Ownership Disclosure Requirement
The Kuwait Ministry of Commerce and Industry (“MOCI”) has informally confirmed to GLA & Co that it is set to begin enforcement of Resolution No. 4 of 2023 as amended (“Resolution”) governing disclosure of ultimate...
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Risk Management and Internal Control Standards for Insurance Companies in the UAE
The Central Bank of the UAE has recently enacted regulations on Risk Management and Internal Control Standards which are applicable on insurance companies, including foreign insurers licensed in the UAE. Our team sheds light on...
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Highlights from the General Authority for Competition in 2022 Part 2
The General Authority for Competition (“GAC”) in Saudi Arabia (“KSA”) has been making significant strides in promoting fair competition and economic growth in the country. In its recently released annual report (“GAC Report”), GAC underscored...
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The Last Piece: Reading into The Executive Regulations of the new UAE Tax Procedures Law
Introduction As the overhauling of the UAE tax regime comes to a conclusion, the United Arab of Emirates (“UAE”) Cabinet (the “Cabinet”) issued its decision no. 74 of 2023 on the Executive Regulation of Federal...
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The Egyptian Competition Authority Brings Criminal Claims Against 14 Violators for Fixing Prices
The Egyptian Competition Authority (“ECA”) is currently investigating and examining the possible violations of its rules and regulations specifically in the market sectors of Aluminum, steel, manufacturing of utensils and other products. With the start...
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General Authority for Competition (GAC) and Competition Protection Agency (CPA) Cooperation
The Saudi Council of Ministers has announced, during its session held on September 19, 2023, the authorization of the Chairman of the Board of Directors of the General Authority for Competition – or his representative...
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