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Saudi​ ​Arabia​ ​introduces​ ​several​ ​new measures​ ​in​ ​light​ ​of​ ​recent​ ​Nitaqat​ ​updates

The Saudi government continues to introduce new measures for the employment of foreign national employees, especially those being considered for more technical roles. The more pertinent changes are in relation to an update to the list of job titles available for posting on the Taqat portal as well as the government’s decision to restrict the employment of foreign national engineers with less than five years of relevant experience.

Latin American Tax Update

Latin America continues to present uncertainty to multinationals in the face of ever-growing complexity stemming from legislative and regulatory developments across the region. With a growing number of countries affected by the OECD’s BEPS actions or similar BEPS-inspired rules, tax reform laws that have maintained or increased headline tax rates and that have added general anti-avoidance rules, and an ever-evolving political landscape, companies with operations or other connections to the Latin American region have to remain keenly focused on developments.

Excise Tax Law Comes into effect in the UAE starting October 2017

On 17 August 2017, the President of the United Arab Emirates (“UAE”) - His Highness Sheikh Khalifa bin Zayed Al Nahyan, has issued the Federal Decree-Law No. (7) of 2017 on Excise Tax (“UAE Excise Tax Law”). The UAE Excise Tax Law will come into effect on 1 October 2017 and is the foundation of the new Excise Tax system that the UAE is introducing based on the Common Excise Tax Framework signed by the six Gulf Co-operation Council (“GCC”) states. The UAE Excise Tax Law sets out the various rules and obligations for taxpayers.

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