Dubai Crown Prince Approves New Gov't Fine And Fee Payments

Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and chairman of Dubai Executive Council, has issued a resolution approving the payment of selected Dubai government fees and fines in instalments.

The resolution aims to support individuals and entities in fulfilling their financial obligations and enhance the process of collection of government fees and fines, a statement said.

According to the resolution, relevant government entities have been tasked with preparing lists for fees and fines that can be paid in instalments and submitting them to Dubai’s Department of Finance for approval.

The lists must comply with the Department of Finance’s policies and procedures, the statement added.

Fees that can be paid in instalments must be over AED10,000 for individuals and AED100,000 for businesses while the fines that can be paid in instalments must be over AED5,000 for individuals and AED20,000 for businesses.

As per the resolution, the instalments must be paid through the mechanisms defined by the Department of Finance and the instalment period must not exceed two years.

The Department of Finance may grant exceptions on such conditions in response to a petition from the concerned government department, the statement said.

For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.

Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.

RECENT NEWS

Investcorp exits RESA Power In Sale To Kohlberg, Marking First Exit For North American PE Fund

Investcorp aims to replicate RESA’s success globally across its private equity business Read more

Gate Group Secures Dubai VARA License

Gate Group’s Dubai arm is accelerating the expansion of its local team as it prepares for its official launch Read more

UAE Announces New Tax Rule

The UAE has announced a new waiver for tax fines in the country Read more

First Abu Dhabi Bank Powers Ahead With Record Q1 Numbers

Total income up 11 per cent to $2.4bn as net profit rises 23% to $1.4bn and profit before tax reaches $1.67bn; Total as... Read more

UAE To Launch Dirham-backed Stablecoin

Dirham-backed stablecoin launched in the UAE will enable simple digital payments Read more