Shaikh Mohammad issues decree to reduce fines imposed on businesses

Dubai: His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, has issued Decree No (10) of 2015 pardoning and reducing fines imposed on businesses in Dubai.

According to a statement on Tuesday, the decree aims to encourage businesses to rectify their status by cancelling or renewing their licenses, updating their information in the records of Dubai’s Department of Economic Development (DED) and provide accurate information about the numbers of active businesses in the emirate.

The decree also pardons businesses that their license expires before 2012 from the imposed fines if they apply for license cancellation. Such fines are pro rata reduced according to the table addendum to the decree if the license cancellation request is submitted within six months starting from the date of activation of the decree.

The director general of DED may extend this grace period for another month.

The decree is considered valid from the date of publication in the Official Gazette.