Stay informed and ahead of the curve with our October edition of Law and Regulations. The Vision Advocates and Legal Consultants bring you the most recent insights and analysis on pressing legal issues. Discover valuable information and expert advice to help you navigate the evolving legal landscape with confidence.
Commercial Registration System
The Commercial Registration System is the core of regulating commercial activities in the Kingdom of Saudi Arabia, as it aims to enhance transparency and reliability in commercial transactions. This system defines the general provisions related to basic tariffs, such as merchant and commercial register, and sets out key objectives such as facilitating and ensuring the accuracy of registration procedures. The Law also addresses the competencies entrusted to the authorities responsible for managing the Commercial Register and sets a framework for electronic registration and updating procedures. This system contributes to improving the business environment by organizing and facilitating access to information, which promotes stability and economic growth.
https://uqn.gov.sa/details?p=26565
Trade Names System
The Trade Names Law aims to regulate the reservation of trade names and their registration in the commercial register, and to enhance confidence in the commercial environment in the Kingdom of Saudi Arabia. The law stipulates that each trader must take a trade name and reserve it in the register, specifying the necessary criteria for the formation of a trade name, whether in Arabic or another language. The law also sets out provisions for the protection of trade names, prohibiting others from using them, and sets controls for rejecting names that violate public order or that may lead to misinformation. This system is an essential tool to protect the rights of merchants and ensure the safety of commercial activities.
https://uqn.gov.sa/details?p=26566
Rules of inspection, control and Oversight
The rules of examination, control and control are an essential part of the Law on the Rights of Persons with Disabilities, as they aim to enhance compliance with the application of relevant laws and regulations. These rules establish a clear framework for the screening and control procedures implemented by the Authority for the Care of Persons with Disabilities on non-governmental facilities. It also seeks to enhance transparency and integrity in inspections and raise awareness of the importance of such procedures among all parties concerned. The rules focus on following up on compliance with the basic principles of the system, ensuring that persons with disabilities are not deprived of their rights, and setting clear standards for dealing with violations, which contributes to promoting a supportive and inclusive environment for all.
https://uqn.gov.sa/details?p=26569
Conditions and procedures for qualifying and accrediting training centers and test centers for drivers and managers of operation in land transport activities
The Transport General Authority seeks to improve the efficiency and safety of the land transport sector in the Kingdom by qualifying and training drivers and operating managers in various transport activities. This system aims to establish conditions and procedures for the qualification and accreditation of training and testing centers, to ensure the provision of high-quality programs that meet safety and efficiency standards. It also focuses on qualifying workers in line with the best local and international practices, which contributes to improving the quality of transport and ensuring its sustainability in the Kingdom.
https://uqn.gov.sa/details?p=26571
Rules governing zakat and tax accounting services
The rules governing zakat and tax accounting services include a set of procedures and conditions for licensing the practice of the profession of zakat and tax accounting in the Kingdom. These rules aim to regulate the provision of these services, and to ensure that accountants adhere to the highest professional standards, ensuring the protection of customer rights and enhancing transparency and tax compliance. The rules include important definitions, license conditions, application procedures, training requirements, and penalties for violations.
https://uqn.gov.sa/details?p=26573
Real Estate Transaction Tax System
The Real Estate Transaction Tax System is a regulatory system that determines how real estate transactions are taxed in the Kingdom of Saudi Arabia. The tax imposed is 5% of the value of the real estate transaction, and targets individuals and companies who carry out the sale or transfer of ownership of real estate within the Kingdom. The system includes all types of real estate transactions such as sale, temporary transfers, and wills, in addition to certain exemption conditions.
https://uqn.gov.sa/details?p=26600
Approval of updating (89) Saudi Standard Specification
In an important step towards improving and developing quality standards in the Kingdom, the Saudi Standards, Metrology and Quality Organization (SASO) announced the adoption of updating (89) Saudi standards. This update comes as part of the Kingdom’s endeavor to enhance the specifications of products and services in line with the latest international standards and reflects its commitment to providing a safe and reliable environment for consumers, as well as supporting economic growth and enhancing the competitiveness of the Saudi industry.
https://uqn.gov.sa/details?p=26676
Amendments to the controls governing customs procedures issued under Administrative Resolution No.(1446-99-485) dated 5/4/1446 AH.
The General Authority of Customs issued new amendments to the controls regulating customs procedures by virtue of Administrative Resolution No.(1446-99-485) dated 5/4/1446 AH. The amendments included the addition of new conditions to facilitate customs clearance procedures, such as allowing the completion of clearance against guarantees in the event of non-presentation of documents, in addition to amending the mechanisms for submitting customs declarations and inspection. These amendments aim to improve efficiency and flexibility in customs operations in line with the Kingdom’s Vision 2030.
https://uqn.gov.sa/details?p=26668
- This new regulations are summarized for guidance, for more information please visit the provided links. for clarifications and implementation contact The Vision Advocates.
