Monday, September 29, 2014

Legal Updates

Oman and Japan: Double Tax Treaty


Royal Decree 23/14 has ratified the convention between the governments of the Sultanate of Oman and Japan as on page 2 on the avoidance of double taxation and prevention of fiscal evasion with respect to taxes on income (the “Convention”). The Convention was signed earlier in the year on January 9, 2014.


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Monday, September 22, 2014

Promotional Offers in the Sultanate of Oman

Promotions and Promotional Offers are governed and regulated by Ministerial Decision No 239 of 2013 (“MD 239/13”) of the Ministry of Commerce and Industry (“MOCI”).


According to MD 239/13 Promotional Offer is defined as “any scheme that provides offers that promote a specific commodity or service during a specific time in return for giving the consumer a prize, gift, service or any other benefit”.


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Tuesday, September 16, 2014

Common Issues Arising from Dispute Resolution Clauses

When drafting commercial contracts, one must be particularly careful in ensuring that all legal and commercial terms are unambiguous and carefully constructed. This is especially true for dispute resolution clauses. This article explores common issues that arise from poorly constructed dispute resolution clauses, and suggests tips on how to ensure that these clauses are succinctly drafted.


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Monday, September 8, 2014

Dodd Frank Legislation in the US and its Impact on Swap Clearing Requirements in Oman

The Dodd Frank Wall Street Reform and Consumer Protection Act (the “Dodd Frank Act” or the “Act”) became law on July 21, 2010. Whilst the Dodd Frank Act has established a comprehensive reform of the United States (“US”) financial regulatory system, and has made changes to most of the financial industry, the focus of this article is based on the Act’s effect on swaps. In particular, this article addresses the requirement that certain swaps need to be cleared through clearing houses (“clearing requirements”).


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