In brief In September 2023, the Saudi Authority for Data and Artificial Intelligence (SDAIA) published the “AI Ethics Principles”, intending to support the Kingdom’s effort towards achieving its vision and national strategies related to adopting AI technology. SDAIA has analyzed global practices and developed the AI Ethics Principles to limit the negative implications of AI systems, help companies ensure the responsible use of those systems and protect the privacy of individuals and their rights concerning…
On 1 November 2023, the Board of the General Authority for Competition (“Authority”) announced that new financial thresholds would apply to determine whether a transaction is reportable to the Authority. By implementing such change, the aim of the Authority is to provide further clarity on the local nexus test required for a transaction to be notifiable to the Authority and to align the Saudi merger control regime further with international standards. This announcement follows the…
On 13 September 2023, the Communication Space & Technology Commission of Saudi Arabia (CST) proposed a draft law on Global Digital Content Safe Harbor (please find the draft law here). The proposed law is aimed at providing a legal framework for intermediary service providers hosting and transiting global digital content in the Kingdom of Saudi Arabia (KSA) in a way that ensures no objection, deletion or modification of content hosted in and accessible within the…
In brief The recent issue of the Kingdom of Saudi Arabia’s (KSA) official gazette published in early June 2023 includes the Resolution No. 1321/1444 of 6 June 2023 (“Resolution”) issued by KSA’s Minister of Finance. The resolution adopts: The model general arbitration submission agreement; and The model arbitration submission agreement providing for the arbitration in the Saudi Center for Commercial Arbitration (SCCA). The Resolution follows the liberalization of the dispute resolution regime in KSA, specifically…
On 15 September 2023, several amendments to the Implementing Regulations to the Income Tax Law (the “IRTL”) and the Implementing Regulations for the Collecting of Zakat were published in the official Saudi Gazette (Umm Al Qura). The amendments came pursuant to the Minister of Finance Resolution No. (25) dated 08/01/1445H. Key observations The amendments to the RITL reflect the proposed changes published in May 2023 for public consultation. The amendments are as follows: Article 9…