Sunday 8 January 2012

Dubai slashes companies' fines up to 40%

Shaikh Mohammad issued a decree reducing the fines imposed on economic establishments in the emirate of Dubai.

Dubai: His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, in his capacity as Ruler of Dubai, Sunday issued a decree reducing the fines imposed on economic establishments in the emirate of Dubai.
As per decree No. 1 of 2012, discounts will be implemented for fines received prior to the issuance of this decree and its accompanying table.
As per the decree, fines paid during the period from January 1 to February 29 will receive a discount of up to 40 per cent, fines paid between March 1 to April 30 will receive a discount of up to 30 per cent, while fines paid between May 1 to June 29 will receive a discount of 20 per cent.

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