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1.

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

2.

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

3.

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

4.

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

5.

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

6.

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

7.

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

8.

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

9.

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

10.

LEBANON: Government Approves 2% Tax on Imports and 10% on ‘Dumped’ Products

30 May 2019

Imports to Lebanon will now be subjected to 2% tax, excluding pharmaceuticals, electric cars, and raw materials for industrial and agricultural products, while higher rate of 10% will apply to 20 prod...Read More

11.

Saudi Arabia: 100% Tax on E-cigarettes and 50% on Sweetened Drinks Introduced

28 May 2019

Saudi Arabia has amended excise taxes to include sweetened beverages, electronic smoking appliances, and any liquids used in those products. The move was approved by the Saudi Arabia’s General Authori...Read More

12.

OMAN: 10% Withholding Tax on Dividends Suspended

24 May 2019

Oman’s Capital Market Authority (CMA) confirmed on 16 May 2019 that the government is suspending the 10% withholding tax on shares and interest payments for at least three years, effective from 6 May ...Read More

13.

UAE: New Long Stay Residency Visas for Investors and Entrepreneurs

22 May 2019

The United Arab Emirates (UAE) has introduced long-term residency visas for expatriates in five categories, in some cases permitting them to reside in the UAE for up to 10 years. The Federal Authority...Read More

14.

AFRICA: AfCFTA, World’s Largest Free Trade Area, Activated on 30 May

21 May 2019

The African Union announced on 1 May 2019, that it has set 30 May 2019 as the official date for activating the African Continental Free Trade Area (AfCFTA). The AfCFTA will create the world’s largest ...Read More

15.

UAE: New Authority to Oversee Food Safety and Boost Foreign Investment in Abu Dhabi

14 May 2019

On 24 March 2019, the Abu Dhabi authorities announced that Law No 7 of 2019, on establishing the Abu Dhabi Agriculture and Food Safety Authority (ADAFSA), has been passed....Read More

16.

QATAR: Law Approved to Extend Areas Where Foreigners Can Buy Property

10 May 2019

The Qatari Cabinet has approved legislation to extend the number of locations where non-Qataris may own villas and shops within residential and commercial complexes. The legislation, passed on 13 Marc...Read More

17.

UAE: New Product Safety Law Also Covers Imports

9 May 2019

The United Arab Emirates Federal National Council passed a new draft product safety law on the 13 March 2019, due to come into force in July 2019. The new law aims to ensure the safety of products in ...Read More

18.

EGYPT: Eligibility for Investment Incentives Extended to Ongoing Projects

6 May 2019

On 7 March this year, the Egyptian cabinet approved a proposal by the Investment and International Cooperation Minister to amend the country’s 2017 Investment Law. The draft amendments to Egypt Law No...Read More

19.

SAUDI ARABIA: New Import Certification Scheme Now in Place

3 May 2019

The Saudi Arabian Ministry of Commerce and Investment has introduced a new product certification programme for all imported consumer-related regulated products. The new programme falls under the autho...Read More

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