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1.

UAE: 1% Fee Waived on Re-Export Deposit Refund

22 Aug 2019

Companies operating in or trading with the United Arab Emirates (UAE) will no longer have to pay a 1% fee when seeking a refund for the security deposit paid for the value of temporarily imported good...Read More

2.

AFRICA: HK Customs extends FTA Transhipment Scheme to LDCs

21 Aug 2019

The FTA Scheme–Transhipment Cargo heading for the Mainland will be extended from the 1 August 2019 to those countries covered by the Special Preferential Tariff Treatment to the Least Developed Countr...Read More

3.

EGYPT: Law Change Enables Citizenship for Investors

20 Aug 2019

Foreigners who invest at least seven million Egyptian pounds (US$422,000) in the country now have a route to Egyptian citizenship....Read More

4.

SAUDI ARABIA: New VAT Regulations Introduced for Non-Residents

12 Aug 2019

The Kingdom of Saudi Arabia has amended the rules covering its assessment and collection of value-added tax (VAT) as given in its Implementing Regulations published last year. The changes should make ...Read More

5.

KENYA: Tax Declarations Now Required for Work Permit Applications

30 July 2019

All Kenyan work permit renewal applications must now be accompanied by an Individual and Company Tax Compliance Certificate (TCC)....Read More

6.

UAE: New Law to Allow up to 100% Foreign Ownership of Maritime Businesses

25 July 2019

The United Arab Emirates is drafting a new law that will allow up to 100% foreign ownership of maritime companies. The legislation also includes a number of provisions to encourage more foreign mariti...Read More

7.

IRAN: Visa Perks to Increase FDI and Joins EAEU FTA

24 July 2019

Under the strain of US sanctions, the Islamic Republic of Iran has introduced a number of measures intended to promote more foreign investment and boost trade....Read More

8.

QATAR: Hong Kong and Qatar Sign MoU on Investment Promotion

23 July 2019

Invest Hong Kong (InvestHK) and the Qatar Financial Centre Authority have signed a Memorandum of Understanding (MoU) to boost mutual co-operation on investment promotion exchanges and support....Read More

9.

UAE: 1,500 Government Fees Abolished or Reduced

22 July 2019

The United Arab Emirates is cancelling/reducing government fees on around 1,500 government services as part of efforts to make the business environment more efficient and to attract a higher level of ...Read More

10.

MAURITIUS: New Budget Targets Offshore Funds, Boosts Investment and Trade

15 July 2019

Mauritius has announced a number of new tax measures, including tightening of tax exemptions, new exemptions for insurance and leasing business, tax breaks for innovative businesses and a tougher stan...Read More

11.

UAE: Cabinet Approves 122 Business Activities Open to 100% Foreign Ownership

11 July 2019

The United Arab Emirates (UAE) has opened 122 economic activities across 13 sectors for 100% foreign ownership, subject to approval by each individual emirate....Read More

12.

ISRAEL: Agreement Signed with Hong Kong to Ease Customs Clearance

8 July 2019

Hong Kong has signed a Mutual Recognition Arrangement (MRA) on Authorised Economic Operator (AEO) status with Israel....Read More

13.

SAUDI ARABIA: Saudi Port Authority Slashes Service Tariffs at Yanbu Port

3 July 2019

The Saudi Ports Authority has greatly reduced handling tariffs, increased free storage time for containers, and reduced the Marine Services tariff for container ships using King Fahad Industrial Port ...Read More

14.

EGYPT: First Personal Data Protection Law Passed

3 July 2019

Egypt has passed a new law protecting personal data privacy, the country’s first such legislation. The Personal Data Protection Act is aimed at protecting data and privacy for all Egyptian citizens, a...Read More

15.

NIGERIA: All Import Duties Increased by 6.5%

26 June 2019

The official exchange rate for import duties to be paid at Nigeria’s ports has been increased from NGN306 to the US dollar to NGN326, an increase of about 6.5%. The new rate, effective from 11 June, w...Read More

16.

UAE: Hong Kong Signs Accord with UAE to Protect Investments

21 June 2019

Hong Kong and the United Arab Emirates (UAE) have signed a new agreement to protect and promote investment. The UAE has close ties with Hong Kong and is party to several international agreements with ...Read More

17.

RWANDA: Single-Use Plastic Items Banned

18 June 2019

Rwanda has banned single-use plastic items, although the import of some goods in single-use plastic packaging will be permitted, but subject to new levies. A three-month transition period for pre-exis...Read More

18.

TANZANIA: New Regulations Introduced Affecting International Electronic Payments

11 June 2019

The Tanzanian government introduced new regulations on 24 May 2019 designed to clamp down on money laundering. They list the new information and compliance requirements that must now accompany all int...Read More

19.

OMAN: New Acquisition and Takeover Law Passed

10 June 2019

The Sultanate of Oman’s Capital Market Authority (CMA) has issued a new law, the Takeover and Acquisition Regulation, which applies to the acquisition of more than 25% of Omani-listed companies....Read More

20.

NIGERIA: Minimum Insurance Capital Requirements More Than Tripled

5 June 2019

Nigeria’s Insurance regulator, the National Insurance Commission (NAICOM) has substantially raised minimum capital requirements for insurance and reinsurance firms operating in the country. The move i...Read More

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